By Nina Kienle and Adria Calatayud
Sika posted higher sales for 2024 on growth in all regions and said it expanded its market share in the final quarter of the year.
The Swiss specialty-chemical company on Thursday said full-year sales rose 4.7% compared with the prior year to 11.76 billion Swiss francs ($12.90 billion). Excluding currency movements, sales were up 7.4%.
Analysts had forecast full-year sales of 11.70 billion Swiss francs, according to estimates provided by Visible Alpha.
Organic sales growth for the year was 1.1%, with a 1.7% increase in the second half.
Sika reported a 7.3% increase in sales for the Europe, Middle East, Africa region excluding currency movements, while sales grew 11% in the Americas and 2.4% in Asia-Pacific.
"Over the past 12 months, Sika posted a strong performance in a market environment that remains challenging and achieved a new record in terms of sales," Chief Executive Thomas Hasler said.
Sika confirmed its profitability outlook for 2024, saying it expects earnings before interest, taxes, depreciation, and amortization to grow faster than sales.
Write to Nina Kienle at nina.kienle@wsj.com and to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
01-09-25 0123ET