In 2015 Sika was able to grow double-digit in core markets USA, Mexico, Africa, Middle East, Southeast Asia and the Pacific.

EMEA region

In the EMEA region (Europe, Middle East, Africa), Sika increased its sales by 5.6% despite the considerable impact of the SNB scrapping the minimum exchange rate for the Swiss franc at the beginning of 2015. Growth was accelerated by the positive business performance in Eastern Europe, Africa and the Middle East. In Western Europe, Sika even slightly exceeded the strong previous year’s result. While Sub-Saharan Africa’s economy slowed down due to the decline in oil and commodity prices, the trend in the Middle East is positive, with large infrastructure projects.

Sika supplied many major infrastructure projects in the region, including the Bluewaters Island resort in Dubai (UAE) and the Westgate Shopping Centre development in Oxford (UK).  

The expansion of production capacities comprises new factories in Dubai, Nigeria, Ivory Coast, Russia and La Réunion. New national subsidiaries were established in Tanzania and Ethiopia.

North America region

The North America region sustained its high growth dynamic and achieved a sales increase of 8.4%. In the USA, the healthy construction sector led to a 10% increase in sales and yet another double-digit EBIT growth over the last three years. While the US residential sector shows better growth rates than the commercial sector, overall American cement consumption has grown by 3.5%. The Canadian construction market on the other hand suffered from the low oil and gas prices.

In 2015, Sika achieved a 35% record growth in the US residential business and also great results in the roofing and flooring sectors. This applies to major construction projects such as the Hudson Yards in New York and several stadiums like the State Farm Center in Illinois.

This goes hand-in-hand with Sika’s focus on the ten biggest US cities, and the respective investments in new admixture plants as well as the acquisition of mortar and plaster manufacturer BMI in the San Francisco area.

Latin America region

In 2015, the challenging market environment – with falling oil and commodities prices – affected the economies of various countries such as Chile, Peru and Colombia. Brazil, whose currency weakened more than 50% in the reporting year, and Venezuela also suffered from significant structural imbalances. Despite these difficulties, gains in market share, especially in Argentina, Mexico, Paraguay and Bolivia, led to a 9.5% increase in sales in the Latin America region.

Considering the heterogeneity of the region, the different countries also offered Sika Latin America many opportunities, such as the maintenance market or the adoption of new technologies.

In addition, investments in new mortar production facilities in Paraguay and Argentina and the launch of new products paved the way for future growth.

Asia/Pacific region

Most countries in Asia experienced lower growth rates than in the year before, China included. Owing to the declining market trend in the Chinese economy, Sika’s overall sales growth in the Asia/Pacific region slowed to 2.1%. On the other hand, double-digit sales increases were achieved in Southeast Asia and the Pacific. Especially Indonesia, Malaysia, Philippines, Singapore and Vietnam showed attractive growth rates due to a strong presence in infrastructure projects, effective project management and the launch of new products.

Amongst other major projects in the Asia/Pacific region, Sika is involved in the new WHO Manila Headquarters (Philippines) and the Marina One infrastructure project in Singapore.

In 2015, Sika acquired tile adhesive manufacturer CTA in Australia, opened a first factory in Sri Lanka, and established a new national subsidiary in Myanmar.

Change net sales / currency impact

 

2014

2015 Change prior year
(+/- in %)
   

in CHF mn

 

 

In CHF

In local currencies

Currency impact

By region

 

 

 

 

 

EMEA

2,734.0

2,600.2

-4.9

5.6

-10.5

North America

746.3

839.2

12.4

8.4

4.0

Latin America

638.6

600.2

-6.0

9.5

-15.5

Asia/Pacific

1,039.7 1,017.3

-2.2

2.1

-4.3

Other Segments and activities

412.7

 

 

432.3

 

 

4.7

11.3

-6.6

Consolidated net sales

5,571.3

 

5,489.2

 

-1.5

6.2

-7.7

Products for construction industry

4,506.6



 

4,358.9

 

 

 

-3.3

4.3

-7.6

Products for industrial manufacturing

1,064.7

 

 

1,130.3

 

 

6.2

14.0

-7.8

Operating profit

 

2014

2015

Change prior year

 

in CHF mn

 

 

(+/-)

(+/- %)

By region

 

 

 

 

EMEA

369.1

368.2

-0.9

-0.2

North America

102.8

134.0

31.2

30.4

Latin America

114.3

110.4

-3.9

-3.4

Asia/Pacific

152.9

177.2

24.3

15.9

Other segments and activities

-105.9

-116.5

 

-10.6

n.a.

Operating profit

633.2

673.3

40.1

6.3