# Swiss chemicals maker Sika posts 13.8% jump in Q1 sales
Published: 2024-04-16
Category: Headlines
Category URL: https://business.express/category/headlines/
Meta Title: Sika AG Reports 13.8% Sales Growth: Outlook Confirmed for
Meta Description: Learn about Sika AG's impressive first-quarter sales increase of 13.8% and its outlook for 2024 with anticipated sales growth between 6% and 9%.
URL: https://business.express/swiss-chemicals-maker-sika-posts-13-8-jump-in-q1-sales/

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(Reuters) -Swiss chemicals maker Sika AG on Tuesday reported a 13.8% increase in its first-quarter sales and confirmed its outlook for 2024, saying it anticipated sales growth of between 6% and 9% in local currencies this year.

Sika reported sales of 2.648 billion Swiss francs ($2.90 billion) for the quarter, the company said in a presentation.

The company added that it was forecasting an “over-proportional” increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) this year.

Sika pointed to its acquisition this month of U.S. firm Kwik Bond Polymers, a manufacturer of polymer systems for the refurbishment of concrete infrastructure, as part of its plans to keep investing in future growth.

($1 = 0.9134 Swiss francs)

(Reporting by Devika Nair in Bengaluru; Editing by Jamie Freed)


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