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Jan 11 (Reuters) – Development chemical compounds maker Sika AG on Tuesday reported a 17.3% rise in 2021 gross sales, boosted by a raft of acquisitions and the upturn within the constructing trade after pandemic closures the yr earlier than.
The Swiss firm, whose merchandise are used to bolster and water-proof concrete, mentioned full-year gross sales rose to 9.24 billion francs ($9.98 billion) from 7.88 billion francs in 2020.
The annual gross sales determine was the best within the firm’s historical past, beating the earlier excessive of 8.11 billion francs in 2019.
Sika, whose merchandise have been used within the new metro line in Ecuador, mentioned full-year gross sales in native currencies rose 17.1% beating the corporate’s forecasts for a 13% to 17% improve.
The corporate is because of report earnings on Feb. 18.
Sika, which made seven acquisitions final yr, is aiming to extend its share of the development chemical compounds market from round 10% now to 12% by 2025.
The corporate expects the market to extend to round 80 billion francs per yr by 2023 from 70 billion francs presently, with authorities stimulus programmes and tendencies in direction of extra sustainable constructing fuelling a world infrastructure increase.
($1 = 0.9262 Swiss francs)
Reporting by John Revill in Zurich and Akanksha Khushi in Bengaluru; Modifying by Shounak Dasgupta