By Yi Wei Wong


Sika AG reported an increase in 2022 earnings Friday, with the company saying it achieved record sales.

The Swiss specialty-chemicals company posted net profit of 1.16 billion Swiss francs ($1.25 billion) compared with CHF1.05 billion it reported for 2021, on sales that it said in January had grown 13% to CHF10.49 billion.

It was the first time the company achieved sales in excess of CHF10 billion, Chief Executive Thomas Hasler said in an earnings release Friday.

The result compares with expectations of CHF1.17 billion in net profit for the year, according to analysts polled by FactSet.

Its earnings before interest and taxes totaled CHF1.58 billion, and Sika achieved an EBIT margin of 15%.

Sika said that its 2022 result was driven by price increases as well as strict cost management, with the largest growth being recorded in the Americas due to the strength of the U.S. infrastructure sector.

Sika said that it will propose a dividend increase to CHF3.20 a share compared with CHF2.90 a share in 2021.

Looking ahead, Sika said that it is expecting sales to grow between 6.0% and 8.0% in local currency terms and an 'over-proportional increase' in EBIT for 2023.

It continues to aim for its acquisition of MBCC to be completed in the first half of 2023.


Write to Yi Wei Wong at yiwei.wong@wsj.com


(END) Dow Jones Newswires

02-16-23 2345ET