During the first 9 months of 2001 the Sika Group achieved net sales of CHF 1 603 m (previous year CHF 1 487 m), CHF 106 m of this sum is apportioned to acquisition. After currency adjust-ments this corresponds to an increase of + 7.8 %.
The Construction and Industry Divisions were able to record a remarkable growth rate in local cur-rencies of + 12.9 % and + 12.1 % respectively. Our sales and production quantities increased and point to a sustained market share against very strong competition.
In the third quarter Sika achieved a growth in net sales of + 6.3 % in local currencies, which corre-sponds to an increase of + 0.3 % in Swiss francs.
Outlook to the end of 2001
At group level we are estimating net sales of CHF 2 100 m (previous year CHF 1 998 m).
The weak global economic situation, the extremely strong Swiss franc and the sobering develop-ments on the financial markets - as stated earlier - mean that we cannot achieve our results of last year, nor our objectives.
By the end of the year we are estimating an operating profit (EBIT) that will be lower by some 15 - 20 %, and a cash flow reaching around 75 % of previous year's level.
The group net profit will be further affected by the developments on the financial markets, which worsened further in the third quarter. In addition, the third quarter is affected by a fraud in Far East.
The cost management measures which were established in the first half year are being rigorously maintained. Despite this, the net profit will be significantly lower than last year.
-->> The LETTER TO SHAREHOLDERS with the Business performance 3rd Quarter 2001 can be downloaded as PDF on the enclosed link.
