(RTTNews) - Sika AG (SXYAY.PK, SKFOF.PK) said, in the first quarter of 2022, the company significantly increased sales, posting a new record of 2.40 billion Swiss francs, an increase of 21.9% in local currencies compared to the previous year. Organic growth in the first quarter was 17.6%.
For fiscal 2022, Sika expects sales to rise by well over 10% in local currencies, and is projecting an over-proportional increase in EBIT.
Sika confirmed its 2023 strategic targets. The company is seeking to grow by 6%-8% a year in local currencies up to 2023. From 2021 onwards, the company is aiming to achieve an EBIT margin in the range of 15%-18%.
The company noted that the closing of the acquisition of MBCC Group remains targeted for the second half of 2022.
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