Sika China's Flooring and Coatings Division's Revenue Exceeds 1 Billion Yuan for the First Time in 2023

After completing the acquisition of MBCC in May 2023, Sika's flooring and coatings team also set a new sales record. In 2023, after-tax sales reached 1.053 billion yuan, a year-on-year increase of 39%, becoming the first company in China's flooring industry with sales exceeding 1 billion yuan.

In 2023, Sika China has 1,691 flooring and coating cooperative contractors, including 731 for the first time; new products within three years contributed 180 million yuan in sales; all market segments have grown; 22 Sika overall flooring projects have been implemented ; Wear-resistant materials exceeded 200,000 tons, and Sikafloor® PURCEM sales exceeded 100 million yuan.

In recent years, Sika China's flooring and coatings business has continued to develop. Data shows that this business achieved pre-tax sales of 360 million yuan and 403 million yuan respectively in 2016 and 2017, a year-on-year increase of 27% and 11.5% respectively; Pre-tax sales were 445 million yuan in 2018; After-tax sales revenue exceeded 400 million yuan for the first time in 2019; After-tax sales exceeded 500 million yuan for the first time in 2020, a year-on-year increase of approximately 25%; Sales in 2021 exceeded 600 million yuan, a year-on-year increase of approximately 20%; In 2022, sales including tax exceeded 800 million yuan, a year-on-year increase of approximately 33.33%. The business has achieved eight consecutive years of double-digit sales growth.

Sika was founded in 1910 with its global headquarters in Zurich, Switzerland. It was listed on the Swiss Stock Exchange in 1968. It is one of the world's largest construction and industrial chemicals groups, providing innovative solutions for the industries of concrete, waterproofing, sealing and bonding, roofing, flooring, Coatings, repairs and reinforcements. Sales revenue in 2022 was US$11.363 billion..

After completing the acquisition of MBCC, Sika Group's coatings business has grown significantly. Taking 2021 as an example, the sales revenue of Sika Group's four major business segments are: concrete systems account for 21%, cement systems account for 28%, thermoplastic systems account for 16%, coating systems account for 13%, and adhesive systems account for 22%. Sika Group Coating Systems' consolidated sales in 2021 was US$1.729 billion.

Sika entered the Chinese market in 1958. After 30 years of development, Sika is able to provide and produce complete building materials products from roof to ground in China. Its business involves concrete admixtures, roofing and waterproofing coils, sealants, waterproofing materials, mortar and grouting materials, reinforcement and repair materials, floor materials (including floor coatings), architectural coatings, fire retardant coatings, industrial coatings, ceramic tile paving and other products are used in manufacturing industries such as transportation, new energy, home appliances, construction, steel structures, curtain walls, model molds and composite materials.

As of the end of 2022, Sika China has 28 production plants, and its brands include Sika, Davco, Suzuka, Landun, etc. The financial report shows that Sika China's sales from 2018 to 2022 were 2.043 billion yuan, 5.404 billion yuan, 6.4407 billion yuan, 8.0221 billion yuan, and 9.832 billion yuan respectively.

Sika has great confidence and hope in the potential of the Chinese market and its own development in China. Based on this, Swiss Sika New Materials Dushan Port Project was signed and settled in Zhejiang Dushan Port Economic Development Zone in 2023. The project covers an area of about 100 acres and has a total investment of about 700 million yuan. Upon completion, it will become Sika's largest production base in China.

The first phase of the project has a construction capacity of approximately 99,000 tons, covering products and technologies such as fire-retardant coatings, silicone glue, floor coatings, adhesives, and waterproof materials, which are used in wind power, nuclear power, new energy vehicles, and green and low-carbon buildings.