BUZZ-Sika falls after FY miss, guidance cut

Reuters01-13
BUZZ-Sika falls after FY miss, guidance cut

** Shares of Sika AGSIKA.S are down around 7% to their lowest price since November after the Swiss construction chemicals maker reported lower-than-expected full-year results and cut its guidance

** Full-year sales dropped by 4.8% to 11.20 billion Swiss francs ($14.04 billion), missing consensus analyst forecasts of 11.42 billion gathered by Visible Alpha

** "The miss was driven by all regions at the local-currency level, though most materially by APAC and the Americas," RBC analysts say

** Sika said it expects full-year EBITDA margin to be "slightly above 19%" compared with its previous guidance for "19.5-19.8%"

($1 = 0.7975 Swiss francs)

(Reporting by Simon Ferdinand Eibach)

((Simonferdinand.eibach@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment