Sika Philippines said it expects 20% sales growth in 2023

THE Philippine unit of Switzerland-based construction chemicals company Sika Group said it is expecting its topline to grow by 20% this year amid the increase in infrastructure projects.

In 2022, Sika Philippines, Inc. General Manager Christophe Lejeune said that the company recorded a 20% revenue growth last year which he expects to be the same this year.

“This year, we are expecting the same, 20% revenue growth again,” he said.

To support this growth, Mr. Lejeune said they are eyeing to expand their presence in the Philippines through acquisitions and collaborations.

“We are looking to expand our presence in the Philippines and also in other countries in the world. We grow organically, that’s internal growth, but we also grow by acquiring companies,” he said.

The company’s last acquisition was in 2019 when it acquired Parex which helped to improve the businesses’ distribution network, retail sales and product offering.

“In the Philippines, we have very strong good companies that are involved in the construction industry. And these are companies that eventually we could approach to see if there could be any way to join forces in the future,” Mr. Lejeune said.

According to Mr. Lejeune, they will continue to be involved in various public-private partnership projects (PPP).

“Normally we are involved in all those projects. We are not owners, we don’t build, we manufacture products that will then be going to be used by all these PPP projects,” he said.

“This administration is really reviving the PPP projects which help in accelerating the growth of the infrastructure industry in the Philippines,” he added.

Mr. Lejeune said the rise of infrastructure projects will participate in the development of Sika’s activities in the Philippines which is why they want to increase their manufacturing capacity locally.

“Today we have an approximate 40,000-50,000 metric tons of capacity for construction chemicals products. And we are expanding this capacity in the future,” he added.

Its factories are located in Taguig and Las Piñas which is where the company’s starting point is in the Philippines. — Justine Irish D. Tabile