Gypsum industry news

Switzerland: Sika recorded a net profit of Euro257m in the first half of 2020, down by 17% year-on-year from Euro308m in the first half of 2019. Net sales were Euro3.37bn, down by 3.2% from Euro3.48bn. Sika attributed the sales decline to negative currency effects. Decreased sales volumes in March 2020 through to May 2020 as a result of the coronavirus outbreak hampered profitability, according to the company. It said that the end of lockdowns in markets across the globe brought a return to organic growth in June 2020.

Switzerland: Saint-Gobain has started to sell its entire stake in Sika through its subsidiary Schenker-Winkler Holding (SWH). It previously acquired a 10.75% interest in Sika indirectly through the acquisition of 100% of SWH shares from the Burkard family in May 2018 as part of a global agreement with the Burkard family and Sika.

Saint-Gobain attempted to takeover Sika through acquiring a share of the company owned by the Burkard family in 2014. However, a legal counteraction followed and an attempt to transfer shares of Sika from the Burkard family was blocked by a Swiss court in late 2016. Saint-Gobain and Sika eventually ended the takeover attempt in May 2018 by retaining a 10.75% share in Sika, sales of other shares and other benefits. Following a two-year ‘lock-up period’ Saint-Gobain says it decided to dispose of its stake in Sika. It added that Sika chose not to exercise its right of first offer.

Switzerland: Sika has reported a net profit of Euro514m over the nine-month period ending 30 September 2019, up 7.4% year-on-year from Euro479m, amidst growth in all reg ions. Net sales grew by 12.9% in the period to Euro5.45bn from Euro4.83bn one year previously. Sika CEO Paul Schuler praised the performance, stating: “We are confident that we will exceed our sales target for fiscal 2019 of Euro 7.26bn.”

In October 2019, Sika unveiled its Strategy 2023, a six-part organisational growth model aimed at achieving a minimum of 6% growth annually.

Switzerland: Sika’s net sales grew by 7.6% year-on-year to Euro3.38bn in the first half of 2019 from Euro3.14bn in the same period in 2018. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 14.5% to Euro565m from Euro493m. The building chemicals producer noted that its takeover in the reporting period of Parex, a globally leading producer of facade mortar, technical mortar, tile adhesives, and waterproofing systems, was the largest acquisition in its history.

Switzerland: Sika has appointed Philippe Jost as its new head of Construction and a member of group management with effect from 1 June 2019. He will succeeds Yumi Kan who will become the Regional Target Market Manager Concrete Asia/Pacific and Area Manager South Asia.

Jost, aged 47 years, began his career at Sika in 1997. He held various management positions at the Swiss and US national subsidiaries, before joining the corporate organisation in 2007, where he assumed the role of Corporate Target Market Manager Concrete, among others. In 2014 Jost was appointed Corporate Head Human Resources. He is a qualified civil engineer from ETH Zurich and holds an MBA from the London Business School. He is a Luxembourg national and is married with two children.

Switzerland: Sika’s net sales grew by 13.4% year-on-year to Euro6.23bn in 2018 from Euro5.5bn in 2017. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 7.6% to Euro1.01bn from Euro940m. The building chemicals producer reported growth in all regions, with highlights in Eastern Europe, the US, India, Indonesia and China.

Switzerland: Sika’s sales grew by 13.7% year-on-year to Euro6.3bn in 2018 in local currencies. It reported above-average growth rates in Eastern Europe, Africa, the Middle East, US, Indonesia, India, China, and in its Global Business segment.

“With 11 new factories, an additional national subsidiary and four acquisitions, we have invested a great deal in our supply chain in the past year so that we can benefit from the growth in global construction markets and further expand our market position,” said chief executive officer (CEO) Paul Schuler.

Switzerland: Saint-Gobain has ended its takeover battle for Sika by reaching an agreement with the company and the Burkard family. The deal will see it retain a 10.75% share in Sika. However, it has acquired Schenker-Winkler Holding’s 6.97% share from the Burkard family and it has sold this stake to Sika for Euro1.74bn. Saint-Gobain is expected to make a profit of Euro600m on this sale. Saint-Gobain will gain additional voting rights and all legal proceedings will be dropped. Saint-Gobain and Sika have also agreed to extend their business relationship in the future.

"This is a very positive settlement for Saint-Gobain, both from a financial and a strategic perspective. We materialise a substantial positive net result in excess of Euro600m for our shareholders. We also retain a minority stake in a great company and will enhance the relationship between the two groups," said Pierre-André de Chalendar, chairman and chief executive officer of Saint-Gobain.

Saint-Gobain attempted to takeover Sika through acquiring a share of the company owned by the Burkard family in 2014. However, legal counteraction followed and an attempt to transfer shares of Sika from the Burkard family was blocked by a Swiss court in late 2016.

Switzerland: Sika’s sales rose by 8.9% year-on-year to Euro5.3bn in 2017 in local currencies. The chemical production company attributed this to a strong fourth quarter with positive development of business in all regions, investments in new factories, the creation of new national subsidiaries and the launch of new products. A record net profit figure is expected for the 2017 financial year. Particular growth in the fourth quarter was noted in the US, Mexico, Argentina, China, Southeast Asia, the Pacific, the Middle East, Eastern Europe and Africa.

“We expect to break new records for both the operating result and net profit. With nine new factories, three further national subsidiaries, and seven company takeovers, we have made significant investment in growth markets as well as in growth platforms in the form of product technologies and distribution channels. These 19 strategic investments, our pipeline with innovative quality products and our global presence – we now have 100 national subsidiaries and more than 200 factories – allow us to look toward the future with optimism,” said chief executive officer Paul Schuler.

El Salvador: Sika is setting up a sales and distribution subsidiary in El Salvador. The unit will be the Swiss company's 99th national subsidiary around the world.

"Sika already has a strong market position in El Salvador, as we have been supplying the construction sector out of Guatemala for many years. With this new national subsidiary we can develop the market more efficiently and grow more rapidly. Our aim is to further develop Sika's leading position, particularly in the Sealing & Bonding target market," said José Luis Vázquez, Sika's Regional Manager for Latin America.