Sika Sees 31-Percent Increase in Net ProfitFebruary 28th, 2013 | Category: Industry News
Switzerland-based Sika Corp. has reported a 31-percent increase in its net profit for 2012, with sales up 5.8 percent.
The company’s profit was at $301 million U.S. dollars (281 million Swiss Francs) for the year, according to its 2012 financial report.
“Our employees delivered outstanding results in 2012, giving Sika a firm foundation for the future,” says Sika CEO Jan Jenisch. “We were able to fast‐track our investments in growth markets and opened new factories and production lines in various emerging countries.
Already accounting for 37 percent of our consolidated net sales and [more than] 40 percent of our net profit, emerging market sales saw double‐digit growth in 2012.”
In 2012, Sika achieved approximately $5.2 billion U.S. dollars (4.8 billion Swiss Francs), compared with approximately $4.9 million (4.6 billion Swiss Francs) in 2011.
According to the company’s latest financial report, its global presence “enabled it to offset weak demand from Europe.” In North America, Sika increased sales by 9.0 percent in local currencies “on the back of heavy demand for refurbishment work, solid project business and increased market share.”
The company also opened new factories in Asia, Latin America and Eastern Europe during this time period, and saw sales grow by 10.7 percent in its emerging markets.