International. Sika said her success story continued into 2017 with another record year. In local currency, sales increased by nine percent to Swiss francs (CHF) $6,248.3 million. Strong growth momentum and disciplined cost management led to new record figures of CHF $896.3 million (+CHF $101.0 million, +12.7%) for operating profit and CHF $649.0 million (+14.5%) for net profit.
In the reporting year, 19 key investments were made with the aim of boosting future growth. The strategic objectives for 2020 were confirmed and the growth target for 2018 increased to more than 10 percent.
"In the 2017 business year we continued our growth trajectory and not only achieved sales of over CHF $6 billion for the first time, but also achieved record operating profit and net income figures," said CEO Paul Schuler. "With nine new factories, three other domestic subsidiaries and seven acquisitions, we continue to invest in our international expansion at a high level."
All regions reported higher sales and were able to further increase their market share. Particularly high growth rates were achieved in the United States, Mexico, Argentina, China, Southeast Asia, the Pacific area, the Middle East, Eastern Europe and Africa, as well as in the automotive area. In cumulative terms, sales increased by nine percent in local currencies. The franc's strength led to conversion effects of -0.3 percent, and thus to an 8.7 percent increase in sales in Swiss franc terms to CHF $6,248.3 million.
The Latin American region increased sales by 3.3 percent (previous year: 5.1 percent). Both Mexico and Argentina generated above-average growth. By contrast, construction activity continued to develop modestly in countries that rely more on the raw materials sector, such as Brazil, Peru and Chile.
