Despite a long winter, Sika managed to maintain sales in local currencies at the previous year's level (-0.2%) in the first quarter of 2013. As exchange rate shifts had a negative impact of -0.9%, sales in Swiss francs reached CHF 1 043 million.
After a good start to the year, a record cold March put the brakes on a large number of construction projects in Europe and North America. External applications such as roof coverings, façade engineering, and renovation and refurbishment work were delayed. As a result, sales performance in Regions EMEA and North America as measured in local currency was -4.5% and -4.6% respectively.
Business in the emerging markets continues to develop positively, with sales up 9.6%. In the Region Asia/Pacific, there was a 7.8% increase in local currencies. China is back on a growth trajectory, and double-digit growth was again reported for the markets in Southeast Asia, which include Indonesia, Thailand and Vietnam. The Region Latin America achieved growth in local currencies of 6.2%. Sika posted double-digit growth in most markets, except in Colombia and Mexico, which experienced a downturn.
Outlook
For the current year, Sika assumes that the construction projects held up by the wintry weather will get back on track and be brought to completion. Sika affirms the growth targets of 4% to 6% in local currencies it announced for 2013.
Net sales in the first three months of 2013
| in CHF million | 1/1/2012 - 3/31/2012 | 1/1/2013 - 3/31/2013 | Change compared to prior year (+/- in %) | |||||
| In CHF | In local currencies1 | Currency effect | Acquisition effect | |||||
| By region | ||||||||
| EMEA | 495.6 | 477.5 | -3.7 | -4.5 | 0.8 | 1.9 | ||
| North America | 140.9 | 135.1 | -4.1 | -4.6 | 0.5 | 0.0 | ||
| Latin America | 139.0 | 141.9 | 2.1 | 6.2 | -4.1 | 0.9 | ||
| Asia/Pacific | 195.9 | 202.4 | 3.3 | 7.8 | -4.5 | 0.6 | ||
| Other segments and activities | 83.6 | 86.2 | 3.1 | 3.8 | -0.7 | 0.0 | ||
| Net sales consolidated | 1 055.0 | 1 043.1 | -1.1 | -0.2 | -0.9 | 1.1 | ||
| Products for the construction industry | 815.3 | 805.4 | -1.2 | -0.4 | -0.8 | 1.4 | ||
| Products for industrial manufacturing | 239.7 | 237.7 | -0.8 | 0.3 | -1.1 | 0.0 | ||
| 1 including acquisitions | ||||||||
Financial Calendar:
Tuesday, July 30, 2013: Shareholder letter (Half-year report 2013)
Wednesday, October 30, 2013: Shareholder letter (Nine months 2013)
Tuesday, January 14, 2014: Net sales 2013
Tuesday, March 4, 2014: Full-year results 2013; media conference/analyst presentation
| SIKA AG | Zugerstrasse 50 CH-6341 Baar, Switzerland www.sika.com | CONTACT TELEPHONE | Dominik Slappnig Corporate Communications & Investor Relations +41 58 436 68 21 slappnig.dominik@ch.sika.com |
Sika AG Corporate Profile
Sika AG, located in Baar, Switzerland, is a globally active specialty chemicals company. Sika supplies the building and construction industry as well as manufacturing industries (automotive, bus, truck, rail, solar and wind power plants, façades). Sika is a leader in processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures. Sika's product lines feature high-quality concrete admixtures, specialty mortars, sealants and adhesives, damping and reinforcing materials, structural strengthening systems, industrial flooring as well as roofing and waterproofing systems. Worldwide local presence in 80 countries and some 15 200 employees link customers directly to Sika and guarantee the success of all partners. Sika generated annual sales of CHF 4 829 million in 2012.
The media release can be downloaded from the following link:
