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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Sika AG    SIKA   CH0418792922

SIKA AG

(SIKA)
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SIKA OPENS MORTAR PLANT IN ETHIOPIA

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11/14/2019 | 01:00am EST

SIKA OPENS MORTAR PLANT IN ETHIOPIA

Sika is starting the operations of a new mortar plant at its existing site in Addis Ababa, Ethiopia, thus expanding its portfolio of locally manufactured products. After building a production facility for concrete admixtures in 2016, this is a further step in extending the presence in the promising Ethiopian construction market.

Ivo Schädler, EMEA Regional Manager: “With the new plant in Ethiopia we are pursuing the implementation of our Africa strategy. Thanks to the new facility we will provide the market with locally manufactured technical mortars and our tile adhesives range to serve the need for more sophisticated and technically advanced building materials. With our strong local presence we can adapt products to meet the specific customer requirements, and make products available with shorter delivery times. We are thus creating the ideal conditions for participating in the country's dynamic construction market.”

ETHIOPIA IS THE FASTEST-GROWING MARKET SOUTH OF THE SAHARA
Investment projects sponsored by the Ethiopian government and aimed at rapidly developing the country’s infrastructure are making a major contribution to the dynamic development of this country. According to estimates, the construction industry in Ethiopia is set to grow by 12 % in 2019 and by 8 to 9 % on average between 2019 and 2028.

CONTACT
Dominik Slappnig
Corporate Communications &
Investor Relations
+41 58 436 68 21
slappnig.dominik@ch.sika.com

SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 300 factories. Sika employs more than 24,000 people and is forecasting sales of over CHF 8 billion for fiscal 2019.

The media release can be downloaded from the following link:

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© GlobeNewswire 2019
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Financials (CHF)
Sales 2019 8 143 M
EBIT 2019 1 089 M
Net income 2019 761 M
Debt 2019 3 654 M
Yield 2019 1,32%
P/E ratio 2019 33,6x
P/E ratio 2020 27,0x
EV / Sales2019 3,22x
EV / Sales2020 2,83x
Capitalization 22 560 M
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 176,43  CHF
Last Close Price 174,80  CHF
Spread / Highest target 21,7%
Spread / Average Target 0,93%
Spread / Lowest Target -22,8%
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Managers
NameTitle
Paul Schuler Chief Executive Officer
Paul Johann Hälg Chairman-Supervisory Board
Adrian Widmer Group Chief Financial Officer
Frank Höfflin Chief Technology Officer
Daniel J. Sauter Member-Supervisory Board
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