Sika reports 9-month net profit in line with estimates (updated)

Sika AG

Yesterday 04:48

Updates with more details
ZURICH, Oct 23 (Reuters) - Construction chemicals maker Sika SIKA.S reported nine-month profit in line with expectations on Friday and reiterated its sales growth and margin forecast for the full year.
The company, whose additives are used to strengthen and waterproof walls, floors and roofs, reported net profit of 887.8 million Swiss francs ($1.08 billion) for the nine months to the end of September, compared with forecasts of 888 million Swiss francs in a consensus of analysts gathered by Vara.
Nine-month revenue rose to 8.71 billion francs, beating forecasts for 8.67 billion francs
In local currencies, which remove the impact of the strong Swiss franc, the company's sales rose 4.8%
Sika said the heat waves in July and August impacted construction activity in parts of Central and Southern Europe, causing a short-term slowdown, from which it recovered in September
The company kept its full-year outlook, saying it still expected to increase its sales by 3% to 6% when measured in local currencies
It said it still expects a EBITDA profit margin of 19.0% to 19.5% for the full year
($1 = 0.8209 Swiss francs)

 (Reporting by John Revill and Rhea Rose Abraham; Editing by Jochelle Mendonca)
 ((John.Revill@thomsonreuters.com; +41 41 528 36 37; Reuters Messaging: john.revill.thomsonreuters.com@reuters.net/))