28 February 2013 07:13 [Source: ICIS news]
SINGAPORE (ICIS)--Sika’s full year 2012 net profit rose by 31% to Swiss franc (Swfr) 281.1m ($302.3m, €230.4m) on the back of strong growth in the emerging markets, the Switzerland-based firm said on Thursday.
Net sales totalled Swfr4.83bn in 2012, up by 5.8% from Swfr4.56bn the previous year, the company said in a statement.
“Already accounting for 37% of our consolidated net sales and over 40% of our net profit, emerging market sales saw double-digit growth in 2012,” said Jan Jenisch, CEO of Sika.
Sika’s operating profit declined by 24% to Swfr428.8m.
For the medium-term results for 2013, Sika expects its earnings before interest, tax, depreciation and amortisation (EBITDA) to reach 12% and consolidated net profit to exceed the 6% mark.
The sales growth target of 8-10% is unlikely to be achieved, given the continuing uncertain situation in Europe. Overall, Sika is projecting growth of 4-6%, it said.
($1 = Swfr0.93 / €1 = Swfr1.22)
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