Sika Sales Climb Due To Large-Scale Production Footprint

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Sika sales climb due to large-scale production footprint

Sika AG, a Swiss manufacturer of chemicals, announced an 18% increase in first-half revenues on Friday, helped by a larger production footprint and a post-pandemic revival in the construction industry. Sales in local currency increased by roughly 20%.

The business, whose chemical additives reinforce and waterproof concrete, reported sales of $5.5 billion over the previous six months. Sika increased and doubled the capacity of its American manufacture of concrete admixtures.

It continued to strive to have its operating profit grow faster than its local currency sales and anticipated finishing the acquisition of MBCC Group.

Schindler, a Swiss producer of escalators and elevators, lowered its sales forecast for the entire year on Friday, blaming a slowdown in the Chinese economy as well as supply chain problems, lockdowns, and high inflation.

Revenue is now anticipated to fluctuate between a 2% decline and a 2% rise. Results in the first half of the year have been negatively impacted by supply chain problems, an escalating crisis in China, and significantly rising inflation.

Falling new equipment demand in the crucial Chinese market, along with rising interest rates that delay the building business, have hurt Schindler this year. It would take more time for Schindler’s profitability-improving actions to have their full effect.

China’s real estate market, which accounts for around one-third of its GDP, is in trouble as a result of numerous developers going bankrupt and an increase in the number of homebuyers refusing to make mortgage payments on stalled projects.

Lonza, a Swiss contract producer of pharmaceuticals, reported a 17% increase in first-half core earnings due to robust demand from biopharmaceutical firms.

The business is engaged in a multi-year investment campaign to support pharmaceutical companies as they stake their bets on novel therapeutic proteins and cell and gene therapies.

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