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UPDATE 2-Geberit latest company to be hit by surge in safe-haven Swiss franc

(Writes through, adds detail, background) ZURICH, Jan 14 (Reuters) - Geberit became the latest Swiss company to be hit by the surge in value of the Swiss franc during 2020, with the plumbing supplies maker reporting on Thursday how the rise in the safe-haven currency during the COVID-19 crisis cancelled out higher sales in other currencies. The problem is expected to hit other Swiss companies such as foodmaker Nestle and pharmaceuticals firm Roche , which generate most of their revenue abroad but whose reporting currency is the turbo-charged franc. During 2020 the franc appreciated 3.7% against the euro and 12% against the dollar on average, causing a headache for Swiss companies with their biggest sales in the euro zone and particularly the United States.

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SALES GROWTH OF 3 4% IN LOCAL CURRENCIES FOR 2020 – STRONG Q4 INCREASE OF 5 5%

Sales growth of 3.4% in local currencies for 2020 – strong Q4 increase of 5.5% Sales increase of 3.4% in local currencies – 2020 sales at CHF 7.88 billion (–2.9% in CHF) Strong growth of 5.5% in the fourth quarter (organic: 4.1%) Completion of acquisition of Adeplast (Romania), takeover of Modern Waterproofing Group (Egypt), expansion of partnership with CiDRA Concrete Systems (United States) Establishment of new factories in Colombia and China, alongside factory expansions in the United Arab Emirates, France, and Switzerland For 2020, Sika is anticipating an over-proportional increase in EBIT and an EBIT margin of around 14% Confirmation of 2023 strategic targets for sustainable, profitable growth 2020 was a year characterized by the deep-rooted challenges caused all around the world by COVID-19. Lockdowns – in many cases prolonged – in most of the hundred countries in which Sika is active resulted in significant restrictions on construction activity. Thanks to it

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Sika will make five or six acquisitions this year - CEO

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Paul schulerChief executive paul schulerபால் ஸ்கூலர்தலைமை நிர்வாகி பால் ஸ்கூலர்

Sika limite choc de la pandémie sur ses ventes en 2020 grâce aux acquisitions

Sika limite choc de la pandémie sur ses ventes en 2020 grâce aux acquisitions
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