Swiss specialty chemical company Sika AG (SXYAY.PK,SKFOF.PK) reported Friday that its first-half net profit after taxes grew 21 percent to 598.8 million Swiss francs from last year's 494.7 million francs.
Earnings per share were 3.76 francs, up 20.5 percent from 3.12 francs a year ago.
Operating profit or EBIT grew 22.7 percent to 841.9 million francs. EBIT margin was 16 percent. Operating profit before depreciation or EBITDA grew 19.5 percent to 1.04 billion francs.
The first-half net sales were at 5.25 billion francs, a growth of 18 percent from 4.45 billion francs last year. Sales went up 19.5 percent in local currencies.
Looking ahead for fiscal 2022, Sika continues to expect sales to rise by well over 10 percent in local currencies - surpassing 10 billion francs for the first time - and is anticipating an over-proportional increase in EBIT.
Further, Sika confirmed its 2023 strategic targets, with focus remaining on long-term success and profitable growth. Sika is seeking to grow by 6 percent-8 percent per year in local currencies up to 2023. Since 2021, the company is aiming to record an EBIT margin in the range of 15 percent-18 percent.
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