SXYAY - Sika Leveraging Stronger Construction Markets And Well-Placed To Leverage Green Urbanization For Years To Come

• Sika saw strong recovery growth in the first half of the year, but revenue was basically in line with expectations; where Sika really impressed was in its operating costs.
• Strong maintenance spending has driven non-resi in North America, but there is strong new-build activity in areas like logistics and data centers, and infrastructure could accelerate on new legislation.
• Global trends remain positive as well, with healthy renovation and residential activity in Europe; in China, Sika is leveraging expanding sales outlets to drive share growth.
• Sika shares sport eye-watering multiples, but the company is a leader in construction materials, including green construction materials, and urbanization and green building look like potent megatrends.

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