Sika with record results - jump in net profit of 17.4%

Sika can look back on a positive business development in the past fiscal year. The company reports a strong performance in a market that remained very challenging, achieving record results. In 2024, Sika generated net sales of CHF 11,763.1 million (previous year: CHF 11,238.6 million). In local currencies this corresponds to an increase of 7.4%. Sales growth in Swiss francs amounted to 4.7%. This figure includes a foreign currency impact of -2.7%. Organic growth was 1.1% above the previous year’s level. In the second half of the year, organic growth came to 1.7%. Sika thus once again expanded its market share in the past fiscal year. 

All regions performed well, contributing to Sika’s sustained growth and expansion of market share. Sika thus succeeded in achieving further organic growth in the past fiscal year, even under difficult market conditions.

The EMEA region (Europe, Middle East, Africa) reported a sales increase in local currencies of 7.3% (previous year: 14.1%). In 2024, the market environment in the European construction markets was very challenging, while countries in the Middle East and Africa were able to greatly expand their business activities. Contrary to the market trend, Sika was able to perform well in a negative market in Germany, while southern countries such as Italy and Spain achieved slight growth over the course of the year. The automotive and industrial business declined. This is due in particular to falling demand for new vehicles in Europe. Only the sale of hybrid vehicles increased in 2024.

In local currency terms, the Americas region achieved an 11.2% increase in sales (previous year: 15.0%). The year 2024 was the first time that revenues in the region surpassed CHF 4 billion. Sika USA posted steady, strong growth. State-supported infrastructure projects and commercial construction projects that are being implemented as part of the drive to relocate production in the USA are supporting the positive trend. Thanks to Sika’s local presence – close to 100% of all the products and solutions that are sold in the USA are manufactured in the USA – and strong position in the refurbishment business, Sika outperformed the market. Latin America also contributed to the positive trend in the region with solid growth.

Sales in the Asia/Pacific region rose by 2.4% in local currencies (previous year: 14.7%). Despite government support measures, the Chinese construction market remains markedly negative. This is reflected particularly in Sika’s declining project business and, to some extent, in its distribution business. By contrast, Southeast Asia picked up momentum over the course of 2024 and achieved high single-digit organic growth. In the automotive and industry business, Sika continued to increase the share of its technologies in vehicles of local and international manufacturers in China, Japan, and India.

In view of the good results, at the Annual General Meeting to be held on March 25, 2025, the Board of Directors will be proposing to shareholders that the gross dividend per share be increased from CHF 3.30 to CHF 3.60 (+9.1%). Half of the payment is to be distributed from the reserves from capital contribution. Sika has increased its dividend at a double-digit average annual rate for the last 25 years.

At the Annual General Meeting on March 25, 2025, Kwok Wang Ng will be nominated for election to the Board of Directors. Monika Ribar, who has been a member of the Board of Directors since 2011, will not be standing for re-election.

Sika is confident to successfully continue to execute on its strategy and deliver sustainable, profitable growth in a slowly recovering economic environment. Sika is confirming its 2028 strategic mid-term targets for sustainable, profitable growth.

For the 2025 fiscal year, Sika is expecting sales growth in local currencies of 3-6%. The company expects a further over-proportional increase in EBITDA and an expansion of the EBITDA margin to 19.5%-19.8%.

* undiluted