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Sika: targets sales of over CHF10bn in 2022

( - Sika has reported Q1 2022 sales of 2,398.
2 million Swiss francs, up 21.9% y-o-y (1,998.6 million Swiss francs).

It said that all regions benefited from the dynamic construction economy and contributed to this strong sales growth.

Sales growth in Swiss francs amounted to 20.0%, including a negative currency effect of -1.9%. Organic growth amounted to 17.6% over first quarter.

Sika aims to grow by 6% to 8% per year in local currencies until 2023. From 2021 onwards, the company is targeting an EBIT margin of 15% to 18%. For FY 2022, Sika growth of over 10% in local currencies - exceeding 10 billion Swiss francs for the first time.

These forecasts are seeming to stave off slightly less rosy broker comments earlier, with the share currently flat in Zurich.

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