Sika has reported record sales of CHF 8,914.9 million for Q3 2024, marking a 9.1% increase from CHF 8,449.2 million in the same period last year. This growth translates to a 5.5% rise in Swiss francs, although it was affected by a -3.6% currency impact. The company's EBITDA also saw a significant boost, reaching CHF 1,701.7 million, which is up 13.2% from CHF 1,502.7 million in 2023. The EBITDA margin improved to 19.1%, up from 17.8% [eb242281].
CEO Thomas Hasler highlighted the strong organic growth in the Americas, driven primarily by infrastructure projects and an increased demand for semiconductor plants. The material margin also saw an increase, rising to 54.7% from 53.1%. Operating free cash flow stood at CHF 849.5 million, reflecting Sika's robust financial health. The company aims to maintain sustainable growth throughout 2024, indicating a strategic focus on expanding its market share and profitability [eb242281].
In the broader context, Swiss companies, including Avolta and Kardex, have also reported solid gains in sales and turnover. Avolta experienced an 11% rise in first-half turnover due to robust travel demand, while Kardex achieved a half-year revenue of 369.7 million euros. Clariant and SIG Group are preparing to release their financial reports, and Lalique Group is applying to delist its shares, indicating a strategic pivot. The Swiss July KOF Economic Indicator, expected to be 102.5, will provide further insight into the health of the Swiss economy. Strong corporate performances suggest market resilience and may boost investor confidence.
Meanwhile, key events for wealth managers in Europe include first-half results from AG Barr and several other companies. AG Barr's share prices are at a five-year high, showing a 9% sales growth under CEO Euan Sutherland since May. Analysts expect AG Barr's first-half revenue to be around £210 million, alongside a dividend increase from 15.05p to 16.43p per share. European economic indicators show a decline in the Ifo business climate index to 86.6, indicating potential crises in the German economy. Despite these concerns, stock market indices like the Stoxx Europe 600 and DAX have reached record highs, reflecting investor optimism. The week will also feature US new home sales and various quarterly results from major companies, adding to the economic narrative [cb07c39f][98a93db8].