MOSCOW (MRC) -- Sika AG reported a 28% increase in annual profit as the Swiss construction and industrial chemical maker continues fending off a hostile takeover bid from France's Saint-Gobain SA, said the producer in its press release.
Baar-based Sika said net profit for the 12 months to Dec. 31 rose to 441.2 mln Swiss francs (USD463.5 mln), from 344.7 mln francs in 2013. The figure beat analyst expectations of 414 mln francs.
Sales, which were previously announced on Jan. 13, rose 8.4% to 5.57 bn francs from 5.14 bn francs a year earlier.
For 2015, the company predicts sales growth of between six to eight percent at constant exchange rates and profitability to remain unchanged. Sika plans to increase its dividend by 26% to 72 francs per bearer share and by 26% to 12 francs per registered share.
Sika management is currently fighting Saint-Gobain's offer of 2.75 bn francs to buy a controlling stake in Sika, which makes chemical additives for concrete and noise-damping products for cars, from the Swiss company's founding Burkard family.
As MRC wrote before, Sika has entered into exclusive negotiations with Axson management and shareholders to acquire Axson Technologies, a leader in the field of epoxy and polyurethane polymer formulations for design, prototyping and tooling, structural adhesives, composite materials and encapsulation products for the automotive, nautical, renewable energy, sports & leisure and construction markets.
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 the motor vehicle industry. Sika has subsidiaries in 90 countries around the world and manufactures in over 160 factories. Its more than 16,000 employees generated annual sales of CHF 5.6 billion in 2014.
MRC