Sika performed well in a challenging environment in 2021, once again demonstrating the strengths of its business model. Despite the persistent Covid-19 pandemic and bottlenecks in the procurement of raw materials, sales rose significantly to a record CHF 9.24 billion (€8.8 billion), corresponding to growth of 17.1% in local currencies.
Thomas Hasler, chief executive officer at Sika, commented: “2021 was expected to be a challenging year and it proved to be a very successful one for Sika. We are benefiting from a number of growth platforms and are in an ideal position to achieve long-term success. Thanks to our innovative technologies, we are the partner of choice for many customers in the construction and industrial sectors. We have solutions in place for all the development stages of construction markets, and government supported investment programs running into the billions will provide further impetus for our business. In addition, we are making targeted use of the megatrends that drive our key markets. There is huge demand for sustainable solutions. Our products and services enable our customers to reach their ambitious sustainability goals.”
In an environment characterised by a number of temporary lockdowns, Sika grew more strongly than the market in all regions in 2021. Distribution business also posted significant gains in all regions.
The EMEA region reported a sales increase in local currencies of 16.1% (previous year: 4.4%). As in 2020, growth in distribution and refurbishment business outstripped growth in the other business segments. Nearly all countries in the region achieved double-digit growth rates. The countries in the Middle East, along with eastern Europe including Russia, the UK, as well as the countries in Africa benefited from a boost in growth. In general, purchases of Sika product solutions via eCommerce platforms saw an above-average increase.
MBCC acquisition
In November 2021, Sika signed a binding agreement to acquire MBCC Group (the former BASF Construction Chemicals). With sales of CHF 2.9 billion, MBCC Group is a leading supplier of construction chemicals worldwide. This acquisition will complement and broaden Sika’s product and solutions offering in four of five core technologies and seven of eight Sika target markets, while further strengthening the company’s geographic footprint.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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