Sector News

Sika Demonstrates Proof of Concept of Concrete Recycling – Strategic Targets for 2023 Confirmed at Capital Markets Day in Zurich

October 10, 2021
Chemical Value Chain

At the Sika Capital Markets Day 2021 being held in Zurich today, CEO Thomas Hasler confirms the strategic targets 2023. Under the motto: “Sika as Enabler for a Sustainable Construction Industry”, members of Group Management and Sika experts demonstrate the groundbreaking Sika concrete recycling process at a test facility in Zurich. The new reCO2ver concept can be considered a breakthrough in concrete recycling and has the potential to significantly contribute to a more sustainable and circular economy. Furthermore, Sika demonstrates how to further drive the decarbonization of the construction industry, and how innovations meet the challenges of tomorrow.

“Our company has great potential for further growth and long-term success – a global leading position with a market share of around 10%, megatrends driving our key markets and unprecedented needs for sustainable solutions to fulfill demanding global carbon footprint targets. All these elements are in our favor and Sika will play a decisive role as an enabler of these changes for our customers.” Thomas Hasler, Chief Executive Officer

During the Capital Markets Day 2021, information is being shared about innovations, technologies, and market developments. In breakout sessions Group Management and Sika experts focus on the novel, ground-breaking recycling process for demolished concrete under the Sika brand name “reCO2ver”, on further initiatives under the Sika Enabler concept that drive the decarbonization of the construction industry, on the innovations that meet the challenges of tomorrow and on the huge potential in infrastructure and refurbishment supported by various government incentive programs.

In his opening presentation, Thomas Hasler confirms the strategic targets 2023. The organization will continue to be aligned for sustainable, long-term success and profitable growth. By targeting six strategic pillars – market penetration, innovation, operational efficiency, acquisitions, strong corporate values, and sustainability –, Sika is seeking to grow by 6%–8% a year in local currencies until 2023. It is aiming for a higher EBIT margin of 15%–18% from 2021 onwards. Projects in the areas of operations, logistics, procurement, and product formulation should result in an annual improvement in operating costs equivalent to 0.5% of sales. Sika’s overriding sustainability goal is to reduce CO2 emissions per ton sold by 12% until 2023. In addition, the company aims to make all product innovations even more sustainable while at the same time increasing product performance.

For the 2021 fiscal year, Sika is expecting sales growth in local currencies of 13%–17% as well as an over-proportional EBIT increase. The EBIT margin will reach 15% for the first time, despite a challenging raw material price development and supply chain restrictions.

By Sika, Press Release

Source: sika.com

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