Swiss chemicals maker Sika AG reports a 9.2% rise in H1 sales and a 24% increase in EBITDA, surpassing analyst expectations. The company maintains its forecast for local currency sales growth.
Bollywood Fever: Swiss chemicals maker Sika AG reported a 9.2% increase in sales for the first half of the year, reaching 5.83 billion Swiss francs ($6.54 billion), up from 5.35 billion francs a year earlier. This performance exceeded analysts’ average estimate of 5.78 billion francs, according to Vara Research.
Sika, known for its products that reinforce and waterproof building materials, also saw its earnings before interest, tax, depreciation, and amortisation (EBITDA) rise by 24% to 1.09 billion francs. This result also topped analysts’ estimates of 1.08 billion francs, as reported by Vara Research.
The company reiterated its forecast for local currency sales growth of 6-9% and expects an “over-proportional” increase in EBITDA for the year. Sika’s chemical additives and adhesives are widely used in the construction and automotive industries, serving as key indicators of demand in these sectors.
Sika’s strong financial performance highlights its resilience and robust demand for its products across various industries. As the company continues to meet and exceed market expectations, it reinforces its position as a leading player in the chemicals sector.
The reported figures underscore Sika’s growth trajectory and its strategic initiatives to drive sales and profitability. With the construction and automotive industries relying on its advanced materials, Sika remains a bellwether for broader economic trends within these sectors.
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