Swiss Sika 2013 net profit rises 23.8%; sales grow across regions

04 March 2014 04:45  [Source: ICIS news]

SINGAPORE (ICIS)--Sika’s net profit in 2013 rose by 23.8% to Swiss francs (Swfr) 344.7m as sales across all regions grew, the Switzerland-based specialty chemicals maker said on Tuesday.

Its net sales last year rose by 6.5% to Swfr5.14bn, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising by 17.9% to Swfr675.9m, the company said in a statement.

Looking ahead, the company warned that “currency movements and the conditions prevailing in some markets will continue to pose a challenge in the current financial year”.

“For 2014, Sika expects to see a result in line with the new Strategy 2018, with sales growth of 6 to 8%, assuming constant exchange rates and stable margin trends,” Sika said.

The company expects emerging markets’ share in sales to grow to 45% by 2018 from 42% currently.

By: Nurluqman Suratman

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