26/07/2012
  • Sales growth of 3.4% on CHF 2,307.0 million (6.4% in local currencies)
  • 10.7% growth in emerging markets in local currencies
  • Gross margin of 53.1% (first half of 2011: 51.9%)
  • Sharp 10.1% rise in EBIT to CHF 195.5 million

In the first half of 2012, Sika increased sales by 6.4% in local currencies. In Swiss franc terms, after adjusting for exchange rate changes of -3.0%, sales increased by 3.4% year-on-year to CHF 2,307.0 million. Sika also further improved its gross result, which now stands at 53.1%.

6.4% INCREASE IN SALES IN LOCAL CURRENCIES

Sika’s strong global presence and its successful growth strategy in the emerging markets are enabling the company to compensate for the current weakness in Europe and China through sustained growth in the Americas and large parts of Asia. In local currencies, Sika recorded a 6.4% increase in sales in the first half of the current business year. In Swiss franc terms, the company lifted its sales by 3.4% year-on-year to CHF 2,307.0 million.

GROSS MARGIN OF 53.1% (FIRST HALF OF 2011: 51.9%)

Thanks to steady efforts in the first half of the year, Sika succeeded in passing on to the market increases in the cost of raw materials. This widened the gross result in percentage of net sales from 49.4% in the second half of 2011 to 53.1%. After factoring in additional acquisition-related costs, Sika posted an operating profit of CHF 195.5 million, corresponding to an increase of 10.1% (first half of 2011: CHF 177.6 million).

As a result, the EBIT margin improved to 8.5% (first half of 2011: 8.0%). Sika increased its profit to CHF 126.1 million (first half of 2011: CHF 113.6 million), which represents an improvement of 11.0%.

Key figures half-year 2012

in CHF mn1/1/2011-
6/30/2011		1/1/2012-
6/30/2012		Change in %
     
Net sales  2,231.52,307.03.4
Operating profit before depreciation (EBITDA)241.7263.38.9
Operating profit (EBIT)
177.6195.510.1
Net profit after taxes
113.6126.111.0
Earnings per share in CHF144.9649.7510.7
    
Cash flow from operating activities15.039.6 
Operating free cash flow-28.0-13.8 
Balance sheet total2  
3,830.43,941.1 
Shareholders’ equity2 
1,839.11,858.1 
Equity ratio in % 2,3 
48.047.1 
Return on capital employed (ROCE) in %418.315.5 

1 Excluding non-controlling interests
2 As of December 31, 2011 / June 30, 2012
3 Shareholders’ equity divided by balance sheet total.
5 Capital employed = operating assets ./. Cash and cash equivalents ./. non-interest-bearing current liabilities (each with average value)