Professional Documents
Culture Documents
Edition 19.01.2007
Revision no: 0
Identification no:
01 01 01 01 200 0 000331
Sika ViscoCrete-PC 10
Sika ViscoCrete-PC 10
Construction
Uses
Characteristics /
Advantages
Tests
Approval/ Standarts
Sika ViscoCrete-PC 10
1/3
Product Data
Form
Appearance / Colours
Packaging
200 kg drums
Bulk supply on demand
Storage
Storage Conditions /
Shelf -Life
Technical Data
Chemical Base
Density
pH Value
37
Soluble in Water
Chloride Ion Content %
w/w
Effect on Setting
Non-retarding
Effect of Overdosing
(TS EN 934-2)
System
Information
Application Details
Consumption / Dosage
Recommended dosage:
n For medium workability: 0.4 1,0 % by weight of cement
n For concrete of high workability, very low water/cement ration and for self
compacting concrete: 1.0 - 2.0% by weight of cement
When adjusting the consistency, high water retarding feature of the additive must
be taken into account and excessive water addition to the mixture must be
prevented. Before application, pre-trials are always recommended.
Application
Conditions /
Limitations
Compatibility
Sika ViscoCrete -PC 10 may by combined with the following Sika Products among
other:
SikaPump
Sika Ferrogard-901
Sikafume
SikaRapid
Sika Stabilizer
Sika Retarder
Always conduct trials before combining products in specific mixes and contact our
Technical Service Department for information about specific combinations.
Sika ViscoCrete-PC 10
2/3
Application
Instructions
Dispensing
Sika ViscoCrete-PC 10 is added to the gauging water or added with it into the
concrete mixer.
Application Method /
Tools
Notes on Application /
Limitations
Construction
Frost:
If frozen and/or if precipitation has occurred, Sika ViscoCrete-PC 10 may be used
after thawing slowly at room temperature and intensive mixing.
Value Base
All technical data stated in this Product Data Sheet are based on laboratory tests.
Actual measured data may vary due to circumstances beyond our control.
Local Restrictions
Please note that as a result of specific local regulations the performance of this
product may vary from country to country. Please consult the local Product Data
Sheet for the exact description of the application fields.
For information and advice on the safe handling, storage and disposal of chemical
products, users should refer to the most recent Material Safety Data Sheet
containing physical, ecological, toxicological and other safety-related data.
Legal Notes
Sika ViscoCrete-PC 10
3/3
Sika ViscoCrete 10
Sika ViscoCrete10
Construction
Product
Description
Sika ViscoCrete 10 is a liquid admixture for concrete which is used as a highrange water reducer/superplasticiser. It meets the requirements of BS EN 934-2
tables 3.1 & 3.2
Uses
Concrete with high water reduction to meet low w/c ratio requirements
Improved rheology
Improved durability
Characteristics /
Advantages
Tests
Approval / Standards
Product Data
Form
Appearance / Colours
Straw Liquid
Packaging
25 litre drum, 200 litre drum, 1000 litre IBC and Bulk Tanker
Storage Conditions /
Shelf Life
1/3
Sika ViscoCrete10
Technical Data
Chemical Base
Modified polycarboxylate
Density
pH Value
4.2 + 1.0
Freezing Point
+1C
Air Entrainment
Negligible
Effect on Setting
Effect of Overdosing
Alkali Content
<0.40% w/w
Mechanical / Physical
Properties
Compressive Strength
w/c ratio
Slump (mm)
Air cont %
28 day
Compressive
Strength
N/mm2
Control
(350 kg/m3)
None
0.71
80
1.3
44.0
Sika
ViscoCrete
10
0.50
0.56
80
1.6
62.0
Admixture
System
Information
Application Details
Consumption / Dosage
Application
Conditions /
Limitations
Compatibility
Sika Admixtures:
Compatibility information available on request
Cements:
Dispensing
Application Method /
Tools
When using Sika ViscoCrete 10 a suitable mix design is required and local
material sources should be evaluated.
Application
Instructions
Notes on Application /
Limitations
2/3
Sika ViscoCrete10
Construction
Value Base
All technical data stated in this Product Data Sheet are based on laboratory tests.
Actual measured data may vary due to circumstances beyond our control.
Local Restrictions
Please note that as a result of specific local regulations the performance of this
product may vary from country to country. Please consult the local Product Data
Sheet for the exact description of the application fields.
For information and advice on the safe handling, storage and disposal of chemical
products, users shall refer to the most recent Material Safety Data Sheet containing
physical, ecological, toxicological and other safety-related data.
Legal Notes
CE Labelling
Sika Limited
Watchmead
Welwyn Garden City
Hertfordshire
AL7 1BQ
United Kingdom
Phone
+44 1707 394444
Telefax +44 1707 329129
www.sika.co.uk
email: sales@uk.sika.com
3/3
Sika ViscoCrete10
SIKA FINANZ AG
A N N U A L R E P O R T 19 9 9
CONSTRUCTION CHEMICALS
INDUSTRIAL MATERIALS
Markets:
transport infrastructure;
water and power;
health, education, leisure;
manufacturing industry;
residential, commercial and industrial
buildings, precast concrete elements.
Markets:
transportation industry;
ship building;
building components and installations;
domestic appliances and industrial
equipment.
Financial Highlights
1999
1998
as % of
net sales
Sika Group
CHF m
1 689
242
150
144
93
187
111
93
1 472
815
Number of employees
Net sales per employee in KCHF
Turnover in tons 000
Earnings per share in CHF
7 044
240
647
35.9
6 964
226
631
30.7
Sika Finanz AG
CHF m
CHF m
as % of
net sales
CHF m
1 572
199
128
126
79
155
103
70
1 371
712
14.3
8.9
8.6
5.5
11.1
6.6
5.4
640
34.1
32.0 3
12.7
8.2
8.0
5.0
9.9
6.6
4.5
729
31.8
28.9
Net sales
consolidated
99
98
97
96
95
CHF 111 m
CHF 187 m
Group
cash flow
99
98
97
96
95
CHF 93 m
Group
net profit
99
98
97
96
95
99
98
CHF 150 m
EBIT
97
96
95
99
98
97
CHF 1689 m
at year end exchange rates acc. to the statement of tangible fixed assets and depreciation (see page 53)
proposal of the Board of Directors (see page 42)
96
95
Investments
Sika Finanz AG
Annual Report 1999
Sika Finanz AG
Zugerstrasse 50
CH-6341 Baar
Phone ++ 41 41 768 68 00
Fax
++ 41 41 768 68 50
E-mail sfag@ch.sika.com
www.sika.com
Investor Relations
Torsten Wyss
Phone ++41 41768 68 22
Fax
++41 41 768 68 50
E-mail ir@ch.sika.com
Group Report
02
08
11
13
14
17
19
23
26
28
30
Balance Sheet
Income Statement
Notes to the Financial Statements
Proposal of the Board of Directors
The business policies of Sika Finanz AG observes the guidelines for multinational
companies laid down by the OECD. The Group financial statements are prepared
according to the International Accounting Standards (IAS).
This Annual Report is available in German and English simultaneously.
Please note that the German report is the definitive version.
SIKA GROUP
Dear Shareholders
It is with particular pleasure and satisfaction that
we present the 1999 Annual Report.
Sika takes off
For companies active in the field of speciality
chemicals, the outlook at the start of 1999 seemed
difficult and troublesome. Yet Sika nevertheless exceeded its previous record performances, and did so
by a considerable margin. The results demonstrate the
increased efficiency which has been achieved within
the framework of ongoing structural change. At the
same time, the Group kept its sights on the key longterm growth objectives.
The globally-active Group, with its focus on
Construction Chemicals and Industrial Materials,
saw net sales rise by 7.5 % to reach CHF 1 689 m
(CHF 1 572 m). In local currency terms, net sales rose
8.9 %. Earnings before interest, taxes, depreciation and
amortisation (EBITDA) increased by 21.7 % to
CHF 242 m (CHF 199 m), and operating profit (EBIT) by
16.2 % to CHF 150 m (CHF 129 m). Net profit climbed
17.7 % to the record level of CHF 93 m (CHF 79 m),
which corresponds to a return on sales of 5.5 %
(5.0 %). Cash flow rose to CHF 187 m (CHF 155 m),
amounting to 11.1 % (9.9 %) of sales. Therewith Sika
has sucessfully achieved the targets set three years
ago for the business year 1999.
SIKA GROUP
Europe as well as the anticipated rise in North America, where the high level of investment in recent years
has created the necessary foundation.
The reason for the divisional growth is the recovery in the Construction Chemicals sector during the
course of the year, in conjunction with the high level
of growth achieved on the Industrial Materials side.
After getting off to a slow start, sales of Construction Chemicals saw a particularly sharp rise in
the last quarter of 12.9 %. With overall growth of
5.0 %, the construction sector was able to shake off
the stagnation of the previous year (3.7 %). Net sales
rose to CHF 1 256 m (CHF 1197 m), while the operating profit margin increased to 7.4 % (6.5 %).
Industrial Materials generated net sales of
CHF 433 m (CHF 375 m), while maintaining unbroken
growth of 15.4 %. The operating profit margin was
15.8 % (15.3 %). The target set five years ago for the
year 2000 sales of CHF 500 m is now within reach.
Welcome rise in productivity
The gross margin (after manufacturing costs) of
48.5 % (47.6 %) saw further improvement. This underlines the competence of our buying organisation.
Global contracts boosted its effectiveness. At the same
time the margin, which had been squeezed by pricing
and other competitive pressures, was successfully
compensated by the ongoing improvements on the
productivity side. In the Group as a whole, per capita
velop over the next few years. This also covers the
cost of converting to the standard business software
SAP R/3, which is being introduced at the major
European companies. Furthermore, already at an early
stage Sika introduced a range of e-business solutions,
which use electronic channels to handle business
processes. Examples include our company-wide intranet, which also integrates buying and customer
information systems, as well as the electronic data
processing with our customers in the automotive
sector. The foundations for the effective use of the
new technologies have been laid, and we are devoting
considerable attention to the further expansion of our
e-business activities.
During the past year, acquisitions enabled Sika to
play an active role in the consolidation of the construction chemicals market in Switzerland (Holderchem Euco), in Canada (Sternson) and France (Lafarge
Anticorrosion). Despite the fact that in 1999 these
acquisitions contributed less than 1 % to sales, the
goodwill amortisation rose significantly to CHF 4.2 m
(CHF 0.0 m), including the partner stake in Sika Egypt
which was acquired towards the end of 1998.
On the Industrial Materials side, in December
1999 Sika Japan established a joint venture with
Hayashi Telempu Co., Ltd., a major Japanese system
supplier for the automobile industry. The objective of
the joint venture is the development, the production
and the marketing of Sika products for Japanese
automobile manufacturers in the Asia region.
Improved operating results
Despite the fact that total depreciation rose by
CHF 22 m, EBIT rose to 8.9 % (8.2 %) of net sales. Ever
since its foundation, Sika Finanz AG has rigorously
applied the principle of permanent restructuring, and
has always charged these costs against ordinary operating profits. It was against this backdrop that Sika
Equipment AG, Widen, spun off its Sika Robotics Division. This division manufactures robots and equipment
for otherwise inaccessible drains and sewers. However,
Sika continues to develop and produce products on
the Construction Chemicals side for sewer repair
works. The Aliva shotcrete machine business has been
merged and incorporated in Sika AG, Zurich, thus
enabling us to pursue a direct and more customerfocused market development.
3
SIKA GROUP
SIKA GROUP
ment of change within the framework of his committed and long-standing association with the Board of
Directors (since 1985) as well as with the Management Committee (since 1991).
Following the resignation of Dr. Andr Richoz as
CEO in July 1999, the Board elected Dr. Walter
Grebler to head the Group with effect from 1.1. 2000.
He replaces the Chairman of the Board, who performed this role on an interim basis. The principles of
Corporate Governance require a separation between
Yours sincerely
SIKA GROUP
Group Management
Bruno Wlti
O p e ra t i o n s
C h r i s t o p h To b l e r
Industrial Materials
M a rc e l S m i t
Region Asia/
Pa c i f i c
Alexander Bleibler
Construction
Chemicals
Wa l t e r G r e b l e r
Chief Executive
Officer
R o b e r t A . Pe t r i s k o
R e s e a rc h a n d
Development
Emil Rebmann
F i n a n c e a n d C o n t ro l l i n g
Vice Executive Officer
Peter Laeng
Region Europe, Africa,
Near and Middle East
Enrico Tissi
Region
North America
SIKA GROUP
1995
1996
1997
1998
1999
3 505 044
3 505 044
1.50
3 505 044
3 505 044
1.80
3 505 044
3 505 044
1.90
58
45
55
3 900
81
53
79
1 500
107
68
76
900
1 840 000
1 666 000
1 666 000
9.00
1 955 826
1 781 826
1 781 826
9.00
1 955 826
1 783 686
1 783 686
10.80
1 955 826
1 953 826
1 953 826
11.40
406
265
280
Shares traded 6 481
330
260
320
5 500
500
320
464
6 400
665
341
412
5 400
18.9
18.9
17.8
47.6
210
14.8
25.5
3.2
24.1
24.1
27.4
54.7
239
13.3
14.3
2.8
31.3
30.5
30.1
66.5
252
14.8
45.0
2.3
30.7
29.9
2.0
59.6
276
13.4
11.2
2.8
35.9
35.9
17.2
73.1
317
14.5
26.2
2.4 1
662
133
15
21.3
48
79.1
763
135
15
21.3
37
79.1
1 105
185
18
25.6
35
79.1
1 071
153
19
28.9
38
79.2
1 300
162
21 1
32.0 1
35
78.2
3 505 044
3 505 044
2.10 1
84
66
81
900
CHF
CHF
CHF
CHF
1 955 826
1 953 926
1 936 126
12.60 1
540
365
520
4 700
CHF
CHF
%
CHF
CHF
CHF
%
%
Additional information
Market capitalisation at 31/12
in % of shareholders equity
Gross dividend
Dividend total 4
in % of group net profit (payout ratio)
Free Float
SIKA GROUP
CHF m
%
%
CHF m
%
%
Bearer share, nominal value CHF 60. (market price at 31/3/2000: CHF 542.)
1200
1000
Shareholders
800
At 31 December 1999 1121 (1998: 1 074) shareholders were registered. The Burkard-Schenker
family holds 52.8 % (52.6 %) of the voting
rights, partially through Schenker-Winkler Holding AG, Zug/Baar; the pension fund of the
Swiss Sika companies holds 5.9 % (5.4 %).
600
400
200
1995
1996
1997
1998
1999
2000
long-term: A-/stable
short-term: A-2
200
180
160
140
120
100
80
60
40
1995
1996
1997
1998
1999
2000
1 The Dow Jones STOXX Chemical Index includes shares of the following
SIKA GROUP
Research and
Development
Construction Chemicals:
Pacemaker in the field of new technology
The past business year has once again
shown that a strong, globally-based research
and development capability is the key to sustainable growth in an internationally active
Group such as Sika.
On the construction chemicals side, in the
field of concrete additives, technology is taking
a great leap forward. Sika is one of the driving
forces behind this development. New costeffective polymers, with a low environmental
impact, are replacing conventional additives
such as lignin sulphate, naphthalene and melamine derivatives. This new product technology has a wide range of uses: from construction
concrete through specified concrete qualities
to prefabrication applications and highestquality Self Compacting Concrete (SCC).
Integral approach to research
The core competence in the field of polymer synthesis and our broadly-based formulation know-how enable Sika to assume a pacemaker role in this new technology. In this
respect we continue to benefit from the fact
that we take a multidisciplinary and parallel
approach to projects. This means: close cooperation between research and development,
application technology, marketing and production. In addition to our in-house development
activities, we are also, through maintained
close association and co-operation, able to
draw upon the specific know-how of our
suppliers. In order to secure support from
scientific quarters we have taken part in
EUREKA and BRITE EURAM projects. These are
projects promoted by the European Union.
Research institutes and companies work jointly
together within these frameworks on concrete
issues. The aim is to turn the results into marketable products as rapidly as possible. The
new, patented Sika ViscoCrete-product technology is now to be globally anchored and introduced to our subsidiary companies with the
help of extensive training for local specialists.
SIKA GROUP
Quality and
Investments
Investments
During the year under review the Sika
Group invested a total of CHF 111 m, with
about 50 % of this being spent in Europe. Investment focused primarily on increasing capacity on the Industrial Materials side, as well
as on infrastructure upgrades. In the rapidlyexpanding Eastern European countries of
Poland, Hungary, the Czech Republic and
Slovenia, the main emphasis was on increasing
the capacity of logistic facilities. Here Sika
invested CHF 10 m. The logistics centre in
Madrid, which was acquired in the previous
year, went into operation following the programme of refurbishment. The new centre
significantly eases the pressure on existing
production and warehousing facilities.
Rapid development of the market for
elastic bonding
New production plants for adhesives were
established in the USA and Switzerland, and
these went into production in record time. The
results have far exceeded our expectations. The
extra capacities which these facilities provide
will enable us to develop the fast-growing
elastic bonding market even more rapidly.
Investments 1999
Capacity 50%
Quality/
Environment 15%
Rationalisation 15%
Substitution 20%
Investments 1999
by Region
Asia/Pacific 6%
Europe/Africa 49%
America 45%
13
SIKA GROUP
Environmental Report
Energy consumption
600
1000
500
800
400
600
300
400
200
200
100
0
95 96 97 98 99
95 96 97 98 99
in TJ
in MJ per
ton sales
Expenses
for Environment
and Safety
Capital expenditures
for Environment
and Safety
16
10
14
8
12
10
8
4
6
4
2
0
0
95 96 97 98 99
95 96 97 98 99
in CHF m
in CHF m
SIKA GROUP
14
Sicherheit
Safety
60
3000
40
2000
20
1000
0
95 96 97 98 99
95 96 97 98 99
Industrial accidents
(per 1000
employees)
Working days
lost (per million
working days)
CO2 emissions
Emissions
to air
20
300
16
200
12
8
100
4
0
0
95 96 97 98 99
95 96 97 98 99
in 1000 tons
in tons
SO2
NOx
Dust
Emissions to air
As a consequence of the greater use of
natural gas and heating oil as energy sources
for production, emissions to air also saw a proportional rise. CO2 emissions increased from
17100 t to reach 18 600 t, NOX emissions rose
from 18 t to 22 t and SO2 from 8 t to 12 t. We
adhered to the principle of deploying low-sulphur heating oils whenever possible.
Thanks to the continued rigorous introduction of closed-circuit cleaning processes,
emissions of volatile organic compounds (VOC)
fell by a further 10 % to reach 56 t (62 t). We
also succeeded in reducing dust emissions at
production facilities to 53 t (55 t).
Water consumption reduced
Sika proved able to reduce total water
consumption by about 3 % from 850 000 m3 to
828 000 m3. This criterion was measured for
the first time in 1998. 45 % (52 %) of the water
was used as coolant water, 28 % (27 %) was
used in the sanitary field and a further 6 %
(4 %) as process water on the production side
(for example for cleaning). The remaining share
of the water, deployed in products, increased
to 21 % (17 %).
Our goal remains to further reduce coolant
water consumption.
VOC
Abbreviations:
CO2
carbon dioxide
NOx
nitrogen oxides
SO2
sulphur dioxide
t
tons
MJ/TJ megajoule/terajoule
VOC
volatile organic
compounds
Discharges to water
The quantity of organic carbons transported via water to water treatment works
remained the same as in the previous year at
113 t. Likewise, the volume of heavy metals
discharged by all Sika companies remained
below the detection level of 5 kg per year. The
volume of dissolved inorganic salts in waste
water, which was measured for the first time in
1998, fell from 430 t to 310 t.
Solid Waste
During the last business year the total
volume of waste increased by 1 % to reach
16 630 t (16 470 t). The proportion of toxic
waste remained constant year-on-year at
4 437 t (4 438 t), in spite of the increased
production of high-viscous products.
The avoidance of costly toxic waste is
another of our core goals.
Safety
The number of accidents at work which resulted in the loss of at least one working day
rose 20 % to 38 (31) accidents per 1000 fulltime members of staff, above all in the category of minor accidents. The number of working
days lost saw a similar trend. The number of
working days lost per million working days increased 26 % to 2 089 (1 660).
In order to reduce the number of accidents
at work and working days lost, carefully targeted further training programmes have been
launched. Additional programmes and measures are planned.
Sustainable company management through
investments in safety and environmental
protection
The level of investment in safety and environmental protection rose to reach CHF 9.7 m
(CHF 5.9 m), primarily as a consequence of extensive modernisation measures at our plants.
Expenditure in this field, for example for the
introduction and maintenance of ISO 14001 or
new installations designed to improve safety,
amounted to CHF 15.8 m and remained at last
years high level (CHF 15.7 m). This underlines
the degree of importance with which the
Group views this particular aspect of sustainable company management.
The number of full-time employees working in the field of environment and safety fell
from 61 to 56.
15
SIKA GROUP
Employees
Employees 1999
by Region
Asia/
Pacific
14%
Female
Male
America 26%
Europe/
Africa 60%
SAP R/3 software. The same applies to the implementation of quality and ISO standards.
Sikas approach to staff development aims to
promote employees within the Group, while at
the same time encouraging long-term careers.
However, we also bring fresh specialist talent
into our teams from outside. Such specialists
contribute valuable knowledge and bring new
perspectives.
Applying uniform standards:
personnel management
An important measure introduced last year
was the establishment of uniform personnel
management standards which are to be
applicable throughout the whole Group. At the
start of the current year we introduced the
function of personnel management at Group
level. In addition to ensuring adherence to the
uniform standards, the primary task lies in the
development of a programme for management
training.
Characterised by partnership:
Wage and salary policy
The salaries of the middle and upper levels
of management contain a significant variable
element (excl. stock option schemes). In the
case of other employees, variable pay is dependent upon the respective function as well as
on cultural and country-specific customs.
Male
2 514
2 608
439
5 561
Total
2 843
3 365
836
7 044
1998
Female
299
755
408
1 462
17
Male
2 470
2 591
441
5 502
SIKA GROUP
Total
2 769
3 346
849
6 964
Construction
Chemicals Division
Core construction
The launch of the new product technology
Sika ViscoCrete means that it is now possible
to manufacture a concrete which no longer
needs to be compacted with vibrations. Self
Compacting Concrete (SCC) provides additional
customer benefits in the form of:
improved construction site efficiency,
longer useful life for the structure,
lower costs for the contractor,
reduced noise pollution, as well as
easier working conditions.
As SCC uses more additives per cubic
metre of concrete, this development represents
an increase in market potential. Equally important is the use of Sika ViscoCrete technology
in conventional concrete. Here a cost-optimising effect is reached in the production of concrete additives. This solution is set to supplant
conventional technologies. The development
marks the birth of a new generation of highperformance liquefying Sikaments.
Strategy
In the field of core construction and maintenance we continue systematically to work
towards our growth strategy. We focus on rigid
and elastic bonding and sealing applications in
the fields of new construction and renovation.
By this means we make use of the synergies
that are available with our industrial materials.
The expansion of our activities in the retail
business is also a part of our core strategy this
year. Our local presence and the sales organisation, which is especially geared to the support
of technologies, has customer satisfaction as
its overriding goal.
America 19%
Europe/Africa 70%
19
SIKA GROUP
in CHF m
Finishing / maintenance
We were able to generate strong results in
the industrial flooring sector as a consequence of our careful focus on specific manufacturing industries (e.g. the food or chip industries) as well as selected key customers
(e.g. in the field of automobile manufacturing).
This is another field in which Sika ViscoCrete
technology is set to play an important role,
enabling concrete floors to be installed with
greater efficiency.
Sika PETUpcycling technology produces a
high-quality material for use in the manufacturing of low-cost and environmentallyfriendly floorings, such as Sikafloor-325/355,
from used materials (PET bottles) as well as
from renewable raw materials. With this technology as well as with our new antistatic industrial flooring Sikafloor-262/381 AS we
have secured a further highly-promising market segment in the field of artificial resin.
The applications in the field of water protection also continue to represent a growth
market for Sika.
SIKA GROUP
20
Elastic sealing and bonding for the construction sector is an application field with a
great future. It is here that the full impact of
the synergy potential with the Industry Division is felt. The market launch of SikaBond,
the elastic high-performance adhesive for the
construction sector, was a success. This application, which focuses on timber construction,
leads to more efficient sound insulation and
improved tension compensation in bonded
timber.
Refurbishment
Sika is strengthening its position in this
attractive market through the rigorous implementation of our system solutions:
concrete substitution with Sika MonoTop,
concrete protection with Sikagard,
static reinforcement with Sika CarboDur, as
well as
elastic sealing with Sikalastic.
For larger-scale concrete profiles, Sika
ViscoCrete technology is to be deployed as
casting concrete.
The innovations with respect to the corrosion inhibitor Sika FerroGard and the static
reinforcements led to extremely profitable
growth. A contribution in this respect also
came from the strategic alliance with Hexcel,
which is now showing the first results with the
market launch of SikaWrap reinforcement
fabrics. These fabrics are also deployed effectively in areas damaged by earthquakes.
With the novel elastic liquid sheeting
Sikalastic Sika is establishing a foothold in the
bridge sealant market.
Our activities in the steel corrosion protection sector with Sika Icosit protection systems
have produced highly satisfactory results.
EBIT
Construction Chemicals
100
80
60
40
20
0
95 96 97 98 99
in CHF m
Segment profit
Construction Chemicals
60
50
40
30
20
Construction Contracting
Sika Bau Switzerland (sealing, concrete
maintenance) as well as Sika Bauschutz
Germany (steel corrosion protection, concrete
maintenance) performed satisfactorily, and
have extended their market positions. In
overall terms, Construction Contracting contributed CHF 88 m to Group sales. The EBIT
margin has to be improved.
10
0
95 96 97 98 99
in CHF m
Equipment
Sika Robotics was spun off and sold. Sika
will in future concentrate on the sale of chemical-technical products for sewer and drain repair.
The Aliva division (shotcreting machines)
performed well.
21
SIKA GROUP
Industry Division
23
SIKA GROUP
300
200
100
0
95 96 97 98 99
in CHF m
SIKA GROUP
24
After market
The introduction in 1999 of the Automotive Line for the after market has underlined
Sikas reputation as a strong and competent
partner. This product line offers customers the
precise glazing adhesive they need for their
specific applications. New on the market is the
adhesive SikaTack-Ultrafast II, which ensures
very short drive-away times following windscreen replacements. With SikaTack-Drive we
launched a product which meets the high
standards of todays automobile windscreen
mounting sector: many windscreens now have
integrated antennae for radio, telephone or
GPS equipment. For this reason, mounted
windscreens need to be electrically insulated
from the automobile chassis.
The polyurethane hybrid Sikaflex-529 for
chassis repairs was given market approval. This
product, in conjunction with the new compressed air applicator pistol, has been extremely well received right from the outset.
EBIT
Industrial Materials
70
60
50
40
30
20
10
0
95 95 97 98 99
in CHF m
Segment profit
Industrial Materials
50
40
30
20
10
0
95 96 97 98 99
in CHF m
Transportation industry
Sika Industry has further extended its market leadership in this segment. This position
was additionally secured through application
systems. Sikaflex-254 Booster has now become the benchmark for competing products
in the commercial vehicle assembly sector. The
booster system enables assembly cycles to be
supported in a manner which was previously
only possible with a two-component adhesive.
The booster system clearly demonstrates the
benefits of our global presence. We not only
supply products, we also support and service
entire application stations.
Excellent prospects
The expansion of production capacities for
high-viscous polyurethane, the new Acoustic
Test Facility, the joint venture in Japan as well
as the product innovations all mean that Sika
Industry is superbly equipped for the coming
years. Nothing now stands in the way of strong
internal growth in conjunction with high profitability and carefully targeted external growth.
Marine
The huge level of interest in ocean cruises
has filled many shipyard orderbooks to the
year 2005 and beyond. Sika, in its capacity as a
system partner for the shipbuilding sector, is
also benefiting from this situation. Deck grouting with Sikaflex-290 DC and direct glazing
on ships have become established state-ofthe-art solutions for todays shipbuilders. Sikas
new fireproof cable duct system is a further
high-quality product which meets a longstanding shipbuilding requirement. This system
prevents fires on ships from spreading along
cables. Our system has been certified by a large
number of marine certification agencies, including Lloyds Register, GL, DNV and the US
Coast Guard, and is increasingly being made a
requirement.
Tooling resins
The expansion of the market for model
construction blocks SikaBlock has proven to
be a success. Lasting market success with these
products, where sales increased by 28 %, has
made it necessary to add further capacity. The
increased focus on major customers, in conjunction with the development of new market
segments, as well as the concentration on
products with high added value are opening up
extremely interesting prospects for the future.
25
SIKA GROUP
Subsidiary Companies
Europe
In mid 1999 Sika AG, the Swiss parent
company of the Group, acquired the Swiss
construction chemicals activities of the company Holderbank (Euco Holderchem), integrating these step by step into the national market
strategy. Exports of construction chemical
products, and above all of industrial adhesives,
developed strongly. Inertol AG, which is active
mainly in the field of corrosion and building
protection, boosted earnings on the back of a
modest rise in sales.
Sika Austria saw earnings rise sharply. The
companies in Poland, Slovenia and Hungary
achieved very good results. The companies in
Slovakia and the Czech Republic were hurt by
the economic weaknesses in the region. The
newly-founded Croatian subsidiary company
developed in line with expectations.
The subsidiary companies in the Netherlands once again generated excellent results at
a high level. Sika Belgium achieved a significant increase in sales and improved its earnings performance. Sika UK saw earnings slip
marginally on flat sales, although in overall
terms these remained at a high level. Sika
Ireland saw sales rise firmly, which was also
reflected in a strong level of profitability.
Sika Denmark, Sika Finland and Sika Norway once again saw their year-on-year performances improve. Sika Sweden was able to stabilise its business levels with higher sales and
improved margins.
Sika Spain continued to grow strongly,
once again generating excellent results. Sika
Portugal developed favourably in every respect.
Sika Greece was able to meet the high sales
targets, and saw earnings jump. Sika Turkey
was hit by the continuing high inflation and
the repercussions of the severe earthquake,
although towards the end of the year the
growth trend was back on track.
Net sales
Switzerland
400
200
0
95 96 97 98 99
in CHF m
in CHF m
Net sales
North America
400
200
0
95 96 97 98 99
in CHF m
SIKA GROUP
26
Sales and earnings at Sika France developed in line with expectations. Guttaterna, the
trading company for sealants and adhesives in
the wood sector, was able to improve on last
years results.
Sika Germany produced an above-average
performance, despite the difficult environment
in the construction industry.
North America
Sales in the USA and Canada rose sharply,
primarily due to the rising level of deliveries to
the automobile industry.
At Sika USA the high capacity investments
resulted in improved local readiness to deliver
as well as greater efficiency on the production
side. This had a favourable impact on customer
satisfaction levels as well as on the earnings
position. As in previous years Sika USA received
awards for strong customer-to-supplier relationships.
Sika Canada is currently on a highly satisfactory growth path.
Latin America
Sika Brazil achieved the budgeted results
in local currency terms. In spite of the recession, Sika Argentina obtained higher sales. Sika
Chile saw results fall in a weakening market.
Sika Uruguay performed surprisingly well and
produced strong results. Sika Peru and Sika
Bolivia continued their previous positive
development. Sika Colombia, Sika Ecuador and
Sika Venezuela performed well in the face of
the very difficult political and economic situation and adjusted their organisations. Sika
Costa Rica, which was founded in 1998, got
off to a strong start. Sika Mexico revised its
corporate structure, and was able to lift sales
notwithstanding enormous competitive pressure.
Net sales
Latin America
200
150
100
50
0
95 96 97 98 99
in CHF m
Net sales
Asia/Pacific
200
150
100
50
0
95 96 97 98 99
in CHF m
Asia/Pacific
The Asian crisis was overcome last year,
as the profit performance from CHF 3.5 m to
CHF 8.8 m clearly demonstrates. However, the
performance differed sharply between individual regions and countries.
While Sika Japan saw sales rise, the performance on the profits side was furthermore
unsatisfactory. Sika Korea fell short of expectations. Sika Hong Kong canvassed and supplied
major infrastructure projects, and generated
good results. Despite the fact that sales at Sika
Taiwan declined slightly following the major
earthquake, the company once again generated excellent results.
Sika China, as in previous years, saw stable
and strong growth, with profits to match. Sika
Philippines also supplied major infrastructure
projects, and this led to a sharp improvement
in earnings. Sika Vietnam developed well, and
was able to generate stable sales in conjunction with strong profits, in spite of the difficult
operating conditions. Sika Thailand posted unsatisfactory results. In India, Sika Qualcrete was
the basis for positive results. Sika Malaysia
produced an excellent performance in the face
of difficult market conditions.
Sales at Sika Singapore fell significantly.
However, the earnings level was maintained. In
Indonesia the difficult political and economic
situation hit Sika hard. Restructuring measures
have been initiated. Sika Australia and Sika
New Zealand performed well. Strong growth
went hand-in-hand with excellent profits.
27
SIKA GROUP
Board of Directors
Group Management
Members
Rudolf Villiger, Dr. oec., Thalwil
(till 26/5/1999)
Chairman (1999) *
Hans Peter Ming, Dr. iur., Zumikon
Chairman (2002) *
(from 27/5/1999)
Thomas Bechtler, Dr. iur., Zumikon
Vice Chairman (2001) *
Urs F. Burkard, Obergeri (2002) *
Marcus Desax, Dr. iur., M. C. L., Stfa (2001) *
Robert Fechtig, Prof. Dr.-Ing. E.h., Zurich (2002)
Walter Grebler, Dr. oec. HSG, Risch
(till 31/12/1999)
Urs B. Rinderknecht, lic. iur., Ennetbaden (2001)
* Board commitee
SIKA GROUP
28
Area Managers
Organisation Chart
Auditors
Area Managers
Bent Baggersgaard
North-West Europe
Charles Kidd
Near and Middle East
Robert Diez
France and Africa
Fernando Rudolph
Latin America South
Wolfgang Leitz
Germany
Ren Siegenthaler
Latin America North
Henrik Nielsen
Scandinavia
Geoff Bradley
Sino-Asia
Silvio Ponti
Central Europe
Bruno Fritsche
Japan / Korea
Hansruedi Ursprung
Eastern Europe (from 1/1/2000)
Marcel Smit
South-East Asia and Pacific
Stefan Huber
Equipment
Board of Directors
Functions
Chief Executive
Officer
Market areas
Construction
Chemicals
Europe, Africa,
Near and
Middle East
Industrial
Materials
North America
Research and
Development
Latin America
North
Finance and
Controlling
Latin America
South
Operations
Asia/Pacific
Group Management
(see page 28)
29
SIKA GROUP
List of
Subsidiary Companies
Country
Company
Local
Production
of
Management
Share capital
in
thousand
%
Holding
ISO
Andr Renaux
Henrik Nielsen
Wolfgang Leitz
Bernhard Hiller
Karl-Heinz Radloff
Roland Hanusch
Ari Nakari
Robert Diez
Philippe de Vriendt
Pierre Carraz
Hans G. Duinker
Spyros Hatzifotis
Bent Baggersgaard
Declan Carroll
Marco Curioni (from 1/4/1999),
Construction Chemicals
BEF
DKK
DEM
DEM
DEM
DEM
FIM
FRF
FRF
FRF
FRF
GDR
GBP
IEP
ITL m
90 000
11 000
65 000
8 551
50
100
3 000
215 472
2 080
500
2 952
205 000
6 000
250
27 000
100
100
99
64
100
100
100
100
100
40
100
100
100
100
100
**
**
**
*
4 000
3 500
100
100
3 500
100
**
1 500
10 000
40 000
100
100
100
**
**
**
1 2 3 4
Europe
Belgium
Denmark
Germany
Finland
France
Greece
Great Britain
Ireland
Italy
*
*
*
**
*
*
Norway
Austria
BV DIAC, Deventer
Sika Norge A/S, Skytta
Sika Plastiment Ges.mbH., Bings
SIKA GROUP
30
*
*
1 location
Country
Company
Local
Production
of
Management
Share capital
in
thousand
%
Holding
ISO
1 2 3 4
Europe (continuation)
Poland
Sika Poland Sp.z.o.o., Warsaw
5 000
100
Portugal
Terrence Weineck
PTE m
1 500
100
Sweden
Switzerland
Bjrn Salmi
Silvio Ponti
Alfred Rechsteiner
Martin Driever
Hubert Morawski
Bernard Benko
Miro Kriznar
Jos Luis Vazquez
Milan Zahradnicek
Murat Belen
SEK
CHF
CHF
CHF
CHF
SKK
SIT
ESP m
CZK
TRL m
18 000
60 000
1 050
8 000
400
6 000
246 602
1 200
30 983
240 000
100
100
100
50
100
100
100
100
100
51
**
**
*
*
Johanna Kruchina
HUF
235 000
100
Charles Kidd
EGP
2 500
100
Charles Kidd
EGP
1 360
100
Robert Diez
George Ghazzawi
Walid Zaccak
FRF
BHD
LBP
250
1 000
750 000
100
45
100
Claude Juillard
Laurent Houmard
Bernhard Lanzendrfer
(from 1/11/1999)
MAD
MUR
ZAR
5 000
2 600
18 144
100
65
100
Slovakia
Slovenia
Spain
Czech Republic
Turkey
Hungary
Algeria
Bahrain
Lebanon
Tunisia
North America
Canada
USA
Morocco
Mauritius
South Africa
TND
150
100
Mike Hardman
Enrico Tissi
CAD
USD
5 000
70 000
100
100
1 location
**
*
2 location
31
SIKA GROUP
Country
Company
Local
Production
of
Management
Share capital
in
thousand
%
Holding
ISO
Alfredo Rodrguez
Gonzalo Castillo
ARS
BOB
BOB
BRL
CLP m
CRC m
ECS m
COP m
MXN
PEN
UYU
VEB m
2 000
1 800
790
14 406
4 104
153
1 000
12 500
20 000
3 262
5 000
2 917
100
70
100
100
100
100
100
100
100
100
100
100
**
6 300
100
1 2 3 4
Latin America
Argentina
Bolivia
Brazil
Chile
Costa Rica
Ecuador
Colombia
Mexico
Peru
Uruguay
Venezuela
**
**
*
*
*
*
**
*
Alexandru Lascarov
(till 31/10/1999)
Asia / Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea
Malaysia
Peter Scott
AUD
CNY
HKD
INR
IDR m
JPY m
KRW m
30 209
27 000
80 000
15 008
2 640
11 596
100
100
40
100
100
100
*
*
*
*
**
**
Patrick Kok
Geoff Bradley
Bhaskar Sen
Alan Stevenson Hutton
Bruno Fritsche
Marcel Smit a.i. (from 1/3/2000)
Hyung-Ki Park (till 29/2/2000)
Aik Guan Seow
1 750
9 480
4 100
66 463
400
100
100
100
100
100
100
100
MYR
MYR
NZD
PHP
SGD
SGD
30 000
200 000
70
100
*
**
1 000
44 190
30
100
New Zealand
Philippines
Singapore
Taiwan
Thailand
Vietnam
Peter Scott
Alan Stevenson Hutton
Honey Lim
Marcel Smit
Simon Wen
TWD
Yumi Kan (from 1/1/2000)
THB
Roland Bruhin (till 31/12/1999)
THB
Yumi Kan
VND m
1 location
SIKA GROUP
32
*
*
*
Sika Finanz AG
Financial Statements with Notes
34
36
37
42
44
Balance Sheet
Income Statement
Notes to the Financial Statements
Proposal of the Board of Directors
Report of the Auditors
33
SIKA FINANZ AG
Sika Finanz AG
Balance Sheet at 31 December
Assets
Notes
1999
CHF
1998
CHF
1
2
3
4
5
33 052 046
28 678 499
31 936 996
830 400
750 111
60 217 360
31 313 506
80 640 651
824 000
877 778
95 248 052
1
65 700 000
479 415 002
1
76 500 000
478 590 002
Total assets
Current assets
Cash at bank
Securities
Accounts receivable
Own shares
Prepaid expenses and accrued income
Total current assets
Long-term assets
Office furniture and equipment
Investments in long-term bonds
Investments in subsidiaries
SIKA FINANZ AG
34
6
7
8
Notes
1999
CHF
1998
CHF
Accounts payable
Accrued expenses
Bond
Total short-term liabilities
9
10
11
4 101 702
6 972 501
11 074 203
3 914 912
8 888 149
100 000 000
112 803 061
Bonds
Provisions for risks on investments in subsidiaries
Total long-term liabilities
11
12
13
14
15
27 956 637
34 061 815
62 018 452
25 073 287
31 816 550
56 889 837
16
9 143 128
5 407 920
4 736 820
6 419 222
14 551 048
11 156 042
Liabilities
Total liabilities
Shareholders equity
Share capital
General statutory reserve
Reserve for own shares
Free reserves
Total reserves
Balance brought forward
Net profit for the year
Total available earnings
Total shareholders equity
Contingent liabilities
Letters of guarantee
Letters of comfort
Total contingent liabilities
17
35
SIKA FINANZ AG
Sika Finanz AG
Income Statement
Notes
1999
CHF
1998
CHF
18
19
49 249 069
10 024 488
50 639 650
9 193 018
59 273 557
59 832 668
7 272 748
5 065 926
750 802
4 122 266
8 000 000
6 370 886
12 651 933
819 106
2 174 193
6 000 000
25 211 742
28 016 118
34 061 815
31 816 550
Income
Income from investments in subsidiaries
Financial income
Total income
Expenses
Administration expenses
Financial expenses
Taxes
Depreciation
Provisions
20
21
22
23
24
Total expenses
SIKA FINANZ AG
25
36
Notes
1 Cash at bank
CHF 33.1 m (CHF 60.2 m)
1999
CHF m
24.4
3.8
4.9
33.1
1998
CHF m
54.3
0.5
4.7
0.7
60.2
2 Securities
CHF 28.7 m (CHF 31.3 m)
1999
CHF m
1998
CHF m
Fixed interest-bearing
bonds in Swiss francs
7.2
bonds in foreign-currencies
1.3
shares and participation certificates 20.2
Total
28.7
3.3
0.6
27.4
31.3
Balance sheet
at 31 December
Assets
3 Accounts receivable
CHF 31.9 m (CHF 80.6 m)
Regional analysis of loans
to subsidiaries:
Europe
America
Asia/Pacific
Total loans
1999
CHF m
28.8
1.7
30.5
1998
CHF m
76.9
2.1
79.0
4 Own shares
CHF 0.8 m (CHF 0.8 m)
37
SIKA FINANZ AG
Fixed interest-bearing
bonds in Swiss francs
bonds in foreign-currencies
Total
1999
CHF m
1998
CHF m
42.7
23.0
65.7
51.8
24.7
76.5
8 Investments in subsidiaries
CHF 479.4 m (CHF 478.6 m)
Europe
North America
Latin America
Asia/Pacific
Africa
Increase in investments
1999
CHF m
1.2
0.3
2.1
1.4
0.8
1998
CHF m
5.2
20.0
4.0
6.6
14.9
40.3
SIKA FINANZ AG
CHF m
1.0
0.3
Latin America
Sika Costa Rica SA, Costa Rica CRC 148.6
0.3
Africa
Sika (Pty) Ltd., South Africa
1.4
38
ZAR
5.5
9 Accounts payable
CHF 4.1 m (CHF 3.9 m)
10 Accrued expenses
CHF 7.0 m (CHF 8.9 m)
11 Bonds
CHF 150.0 m (CHF 250.0 m)
Amount
Maturity
Interest
rate
Convertible bond
CHF 150.0 m
1998/2004 1.00%
Date of
interest
payment
14. July
13 Share capital
CHF 152.4 m, as in previous year
31.12.98
Bearer shares*
Registered shares
Total*
shares
1 955 826
3 505 044
5 460 870
35 050 440
31.12.99
1 955 826
3 505 044
5 460 870
35 050 440
39
Liabilities
and shareholders
equity
SIKA FINANZ AG
14 Reserves
CHF 234.9 m (CHF 234.9 m)
1999
CHF m
113.3
8.8
112.8
234.9
1998
CHF m
113.3
0.9
120.7
234.9
1
2
15 Available earnings
CHF 62.0 m (CHF 56.9 m)
Income Statement
1998
CHF m
25.1
31.8
56.9
CHF m
Units
CHF m
0.8
8.0
8.8
2 000
2 000
0.9
0.9
The net profit for the year rose by 7.2% from CHF 31.8 m
to CHF 34.1 m, while total available earnings rose from
CHF 56.9 m to CHF 62.0 m. The Board of Directors is to
propose an increased dividend payment from 19% to 21%
at the Annual General Meeting.
17 Contingent liabilities
CHF 14.6 m (CHF 11.2 m)
19 Financial income
CHF 10.0 m (CHF 9.2 m)
SIKA FINANZ AG
1999
CHF m
27.9
34.1
62.0
1998
Units
40
1999
CHF m
1998
CHF m
2.3
1.0
4.1
2.5
0.1
10.0
1.8
1.1
3.9
2.1
0.3
9.2
20 Administration expenses
CHF 7.3 m (CHF 6.4 m)
21 Financial expenses
CHF 5.1 m (CHF 12.7 m)
1999
CHF m
4.4
0.1
0.6
1998
CHF m
7.1
0.1
0.6
5.1
4.4
0.4
0.1
12.7
22 Taxes
CHF 0.8 m (CHF 0.8 m)
23 Depreciations
CHF 4.1 m (CHF 2.2 m)
24 Provisions
CHF 8.0 m (CHF 6.0 m)
The net profit for the year enables the Board of Directors to
propose raising the dividend payment from 19% to 21% of
the dividend-entitled share capital (see page 40, note 15).
41
SIKA FINANZ AG
1999
CHF
1998
CHF
34 061 815
27 956 637
62 018 452
31 816 550
25 073 287
56 889 837
31 980 060
30 038 392
27 956 637
Total
62 018 452
56 889 837
SIKA FINANZ AG
42
28 933 200
1999
CHF
1998
CHF
2.100
0.735
1.365
1.900
0.665
1.235
12.600
4.410
8.190
11.400
3.990
7.410
The own bearer shares of Sika Finanz AG are non-voting and without dividend entitlement.
43
SIKA FINANZ AG
Beat Rthlisberger
Swiss Certified Accountant
Partner
SIKA FINANZ AG
44
Armin Hegglin
Swiss Certified Accountant
Partner (in charge of the audit)
Accounting Policies
Group Balance Sheet
Group Income Statement
Statement of Shareholders Equity
Cash Flow Statement
Statement of Tangible Fixed Assets and
Depreciation
Segment Information
Statement of Value Added
Notes to the Group Financial Statements
Exchange Rates
Five-year Review
69 Group Balance Sheet, Key Figures of the
Balance Sheet
70 Group Income Statement, Value based Key Figures
71 Employees
72 Net Sales by Production Area
73 Net Sales by Market Area,
Sales in Tons by Production Area
74 Sales by Business Activity
and Main Product Groups
75 Fire Insurance Cover on Buildings, Net Book Value
of Buildings, Land, Net Capital Expenditures,
Depreciation of Tangible Fixed Assets
76 Report of the Group Auditors
45
SIKA GROUP
Accounting policies
Principles of Consolidation
General information
Reporting for the Sika Group is prepared in accordance with the regulations of the International Accounting Standards Committee (IASC).
The Group financial statements are based on audited balance sheets and
income statements of the subsidiaries at 31 December 1999.
The examination of the Group financial statements is carried out by
auditors of ATAG Ernst & Young AG according to the International
Standards on Auditing (ISA). All standards applicable as at 31 December
1999 have been taken into account.
The listing rules of the Swiss Securities Exchange have also been adhered
to.
Consolidation process
The consolidated annual accounts of the Sika Group include the annual
accounts of the company Sika Finanz AG, Baar, as well as the annual
accounts of its subsidiary companies and associated companies in accordance with the rules specified below.
Subsidiary companies
The full consolidation method is used in the case of companies in
which Sika has an interest of more than 50 % and is thereby responsible for their management and where Sika brand names and manufacturing technologies are used. This covers 100 % of the assets and
equity & liabilities as well as the income and expenses; the minority
interests in equity and the corresponding share of net assets and the
annual profits are withdrawn and shown separately as the interest of
minority shareholders.
Associated companies
In the case of associated companies in which Sika has an interest of
2050 %, accounts are drawn up using the equity method, provided
there is a substantial influence. In this respect the percentage share
of net assets is shown in the balance sheet under investments and
the share of the annual profits in the profit and loss account is
included under sundry income.
SIKA GROUP
46
Valuation Principles
Current assets
Securities are stated at market value.
Accounts receivable are disclosed net of a commercially reasonable provision for bad debts.
Inventories are valued as follows:
Raw materials are recorded essentially at cost, (weighted average), finished products are stated at production cost or market value, whichever is
lower; obsolete inventories are written off.
The remaining assets include prepaid expenses.
Tangible long-term assets
Tangible fixed assets are stated at cost less accumulated depreciation.
Revaluation required by law in hyper-inflationary countries was taken
into account to the extent of the actual currency devaluation. Finance
leases are recorded in the balance sheet. Value-adding costs have been
capitalised and depreciated over the respective useful lives. Other repair,
maintenance and renovation costs have been charged directly against
the income statement.
Fixed interest-bearing securities with a remaining term of more than one
year are recorded at historical cost as financial investments.
Intangible long-term assets
Costs of patents, trademarks and other rights developed by the Group are
not capitalised. Costs for research are recognised as expenses. Development costs are only capitalised to the extent that these can be clearly
allocated to a product or a group of products. The goodwill acquired
through investments, technology and customer base buying are assessed
for impairment annually (IAS 36) and are depreciated over the expected
useful life. The external costs of implementation of new IT-systems are
disclosed in the balance sheet after the deduction of accrued depreciation.
Liabilities
Liabilities which become due within twelve months and accrued items
are included in short-term liabilities. Tax liabilities comprise taxes due
and accrued as well as deferred taxes.
Long-term liabilities comprise obligations with maturities of more than
one year.
Provisions
Provisions have been stated in accordance with the conservative business
policy of an international group active in the field of speciality chemicals.
This includes commercially necessary provisions for guarantee obligations, warranties, environmental risks and restructuring, as well as pensions.
Employee benefits
The Group operates a variety of systems of pension plans.
Defined contribution plans are treated as expense. Defined benefit plans
are either effected through independent pension funds or recorded in the
balance sheet. The projected benefit obligation is calculated applying the
projected unit credit method. Independent actuarial calculations are
carried out as a rule annually. Unfunded benefit obligations are recorded
as expense and disclosed under provisions. A surplus of funding is only
capitalised if it represents deferred expense which is available for the
repayment or reduction of future contributions.
Convertible and warrant-linked bonds
The convertible bond contains a liability and an equity component. At
the time of issue the equity component was shown in the consolidated
equity.
The difference between the liability component and the nominal value
of the bond will be amortised over the course of its maturity as interest
expenditure.
Equity
Through capital consolidation, equity is presented as if the Group were
one single company.
The treasury stock is openly shown and set off against the equity (share
capital and reserves).
Related parties
With the exception of ordinary dividend payments, there were no other
transactions with either shareholders or other related parties (IAS 24).
There are no contribution-free capital participation schemes for the
Board of Directors and/or the Group Management.
Income statement
The income statement is shown according to the cost of goods sold
method.
Depreciations are shown separately.
Sales
Sales include invoiced goods and services to customers. Sales related to
long-term contracts (Construction Services) are insignificant.
Transactions within the Group are carried out at market conditions.
Depreciation
Depreciation of tangible fixed assets is charged on a straight line basis
over the estimated useful lives and value of the assets.
Goodwill as well as the cost of implementing new IT-systems are assessed
for impairment annually (IAS 36) and are written off over their estimated
useful lives.
Taxes
The reported taxes include:
taxes on earnings based on the current taxable income
withholding taxes on the transfer of dividends and royalties
taxes on equity
deferred taxes.
Deferred taxes are not calculated on undistributed profits of subsidiaries, as these are retained to finance their growth.
Research and Development
Research costs are included in the profit and loss account as expenses.
Development costs are only capitalised if they can clearly be allocated to
a product or a group of products.
Segment reporting
Segment reporting is performed on the basis of the divisions (primary
segment) and on the basis of geographical regions (secondary segment).
Risk Management (IAS 32)
Derivative currency transactions without corresponding underlying transactions may not be concluded. Hedging is only performed to the extent
that the expenditure is assessed to be lower than the risk. Currency risks
in Europe are reduced through netting, and in other countries through
the timely purchase/sale of the foreign currencies.
The market price risk (especially in the case of raw materials) with respect
to important products is limited through corresponding inventories as
well as through group agreements (lead buying). The bad-debt risk (accounts receivable) is controlled through the establishment of credit limits
as well as through appropriate dunning systems.
The guarantee risk (products and systems) is kept low by means of quality
controls in the factories as well as through staff training provided on the
basis of Group guidelines. A cross-Group insurance solution has been
established to cover liability for personal injury and to third party property damage, as well as elementary damage to Group equipment and
fixtures.
47
SIKA GROUP
Notes
1999
KCHF *
1998
KCHF *
1
2
193 623
226 326
Inventories
Raw materials
Finished products
4
5
Current assets
375 083
28 335
67 577
128 187
346 748
307 208
27 540
279 668
195 764
62 471
116 116
178 587
30 586
21 968
56 697
14 607
788 689
755 885
Long-term assets
Tangible fixed assets
Land
Buildings
Equipment
Financial investments
Investments
Investments in long-term bonds
Other long-term assets
83 390
260 187
223 969
Total assets
SIKA GROUP
48
12 918
65 700
36 807
567 546
76 278
220 938
202 902
500 118
115 425
12 446
76 500
26 380
115 326
682 971
615 444
1 471 660
1 371 329
629 287
556 138
Liabilities and
Shareholders Equity
Notes
1999
KCHF
1998
KCHF
Short-term liabilities
Bank loans
Accounts payable
Tax liabilities
Other short-term liabilities
Accrued expenses
Bond
Total short-term liabilities
8
9
10
11
12
16
71 034
109 007
24 014
27 305
79 584
310 944
38 443
90 674
16 724
27 661
75 440
100 000
348 942
Long-term liabilities
Bank loans
Other long-term liabilities
Provisions
Bond
Total long-term liabilities
13
14
15
16
75 049
11 382
124 328
134 600
345 359
48 337
8 270
122 525
131 500
310 632
656 303
659 574
151 218
247 212
274 351
132 070
152 280
254 110
237 853
57 471
Liabilities
Total liabilities
Shareholders equity
Share capital *
Reserves*
Retained earnings and balance brought forward
Net profit after translation and valuation differences
Consolidated shareholders equity
17
804 851
701 714
Minority interests
Consolidated group equity
18
19
10 506
815 357
10 041
711 755
1 471 660
1 371 329
20 466
27 238
29 205
24 609
20
20
* 1998 restated (Treasury shares presented within consolidated shareholders equity in accordance with IAS)
49
SIKA GROUP
Notes
%
Gross sales
Allowances
1999
KCHF
1 715 763
26 892
Net sales
21
1 688 871
100.0
1 571 575
34.1
17.4
576 591
292 441
34.7
17.7
545 306
277 908
48.5
819 839
47.6
748 361
26.7
7.5
451 417
126 122
27.3
7.6
429 516
119 707
23
14.3
242 300
12.7
199 138
24
5.4
22
8.9
26
26
27
27
4.5
80 464
12 288
25
Financial income
Financial expenses
Sundry income
Sundry expenses
1 596 921
25 346
100.0
1998
KCHF
149 548
68 594
1 812
8.2
14 030
20 238
12 335
11 336
128 732
14 983
23 418
10 741
4 671
28
8.6
144 339
8.0
126 367
29
3.1
51 652
3.0
47 646
30
5.5
92 687
5.0
78 721
Minority interests
31
1 776
3 478
32
90 911
75 243
Translation differences
Net profit Sika Finanz AG after translation differences
33
41 159
132 070
17 772
57 471
34
35.9
35.9
30.7
29.9
34
6.0
6.0
5.1
5.0
Taxes
SIKA GROUP
50
1999
KCHF
1998
KCHF
151 218
152 280
Sika Finanz AG
Share capital
Reserves on 1/1
Premium from the conversion of the 4% bond CHF 64 m
Equity component of the 1% convertible bond CHF 150 m
Offset of own shares
Reserves on 31/12
254 110
6 898
295 324
28 933
263 426
25 573
7 960
181 576
53 294
20 000
-760
247 212
254 110
274 351
237 853
90 911
75 243
207
41 366
4 210
13 685
123
41 159
17 772
132 070
406 421
57 471
295 324
804 851
701 714
Minorities
at 1/1
Minority interests in net profit
Dividend payments to minority shareholders of subsidiaries
Capital increase
Acquisitions of minorities
Translation differences
at 31/12
10 041
1 776
909
511
606
307
12 630
3 478
1 111
7
4 385
578
10 506
10 041
815 357
711 755
th
At the 30 Annual General Meeting of 27 May 1998, a conditional share capital of CHF 15.6 m was issued (see page 39, note 13)
51
SIKA GROUP
Notes
1999
CHF m
1998
CHF m
Income statement
144.3
44.4
92.8
1.8
4.6
199.1
40.6
126.4
51.2
70.4
5.7
8.3
143.0
24.1
158.5
118.9
131.9
23.1
12.1
0.5
10.8
10.6
130.2
23.0
8.7
0.8
13.2
7.9
121.2
136.2
Financing activities
Financial income
Financial expenditures
Increase () / decrease (+) in long-term bank loans and other
Increase () / decrease (+) in short-term bank loans
Conversion of the 4% bond
Issue (+) / repayment () of bonds
Dividend payments to shareholders of Sika Finanz AG
Dividend payments to minority shareholders of subsidiaries
14.1
22.6
29.8
32.6
100.0
28.9
-0.9
15.2
24.2
11.7
7.2
10.5
150.0
25.6
1.1
75.9
84.9
3.3
4.3
35.3
63.3
195.0
159.7
131.7
195.0
-35.3
63.3
Operating activities
Profit before taxes
Taxes paid
Depreciation and amortisation
Increase (+) / decrease () in provisions
Other adjustments
Cash flow before changes in working capital
Increase () / decrease (+) in net working capital
Income statement
Balance sheet
35
35
Balance sheet
Balance sheet
Balance sheet
Statement of shareholders equity
Statement of shareholders equity
2 adjusted
SIKA GROUP
52
3 adjusted
1
1
in CHF m
at
31/12/98
Translation
differences
Historical cost
Land
80.6
Buildings
413.7
Machinery and production facilities
400.2
Vehicles
28.6
Furniture and IT equipment
128.7
Factory equipment
45.9
Construction in progress
29.4
Total tangible fixed assets at historical cost 1 127.1
5.6
20.2
27.1
0.7
3.4
5.6
3.2
65.8
Accumulated depreciation
Land
Buildings
Machinery and production facilities
Vehicles
Furniture and IT equipment
Factory equipment
Construction in progress
Total accumulated depreciation
4.3
192.8
288.6
19.7
92.4
29.1
0.1
627.0
1998
Additions
(+)
Disposals
()
Revaluation
(+)
at
31/12/99
3.5
42.7
64.0
5.4
16.4
3.9
0.0
135.9 2
1.6
3.7
4.1
3.6
8.0
0.8
18.8
33.2
0.0
0.2
1.8
0.3
0.8
0.4
-0.1
3.4
88.1
480.5
489.0
31.4
141.3
55.0
13.7
1 299.0
0.0
5.9
15.7
0.6
1.9
3.8
0.0
27.9
0.2
17.6
39.9
4.1
14.8
4.8
0.1
81.5 1
-0.2
-3.3
3.3
2.5
5.4
0.5
0.1
8.3
0.0
0.7
1.8
0.2
0.5
0.2
0.0
3.4
4.7
220.3
342.7
22.1
104.2
37.4
0.1
731.5
500.1
37.9
54.4
24.9 3
0.0
567.5
463.9
0.9
57.8
21.1
-1.4
500.1
1999
at year end
exchange rates
at average
exchange rates
Translation
differences
66.4
68.6
2.2
124.2
21.1
103.1
130.2
23.0
107.2
6.0
1.9
4.1
Depreciation
Gross capital expenditures
Disposals of fixed assets
Net capital expenditures
at year end
exchange rates
at average
exchange rates
Translation
differences
81.5
80.5
-1.0
135.9
24.9
111.0
131.9
23.1
108.8
-4.0
-1.8
-2.2
Depreciation
Depreciation periods:
Buildings
Machinery and production facilities
Vehicles
Furniture
Factory equipment
IT systems
53
20 50 Years
5 10 Years
3 5 Years
3 8 Years
5 10 Years
1 5 Years
SIKA GROUP
Segment Information
by Business Activity
Construction Chemicals
In 1999 the Construction Chemicals Division recorded net sales of
CHF 1 256 m. This corresponds to growth of 5.0 % relative to the
previous year. On a comparable basis, i. e. taking into account discontinued activities or joint ventures, the average growth rate recorded
since 1995 has been about 6 % per annum. The largest share of net
sales was generated in the Europe region (70 %). In overall terms, in
1999 the Construction Chemicals Division generated 74 % of the Sika
Group net sales.
1200
Segment profit
Construction Chemicals
EBIT1
Construction Chemicals
Net investments
Construction Chemicals
60
100
1400
100
50
80
1000
80
40
60
60
800
30
600
40
40
20
400
20
200
0
20
10
0
95 96 97 98 99
95 96 97 98 99
95 96 97 98 99
95 96 97 98 99
in CHF m
in CHF m
in CHF m
in CHF m
Industrial Materials
In 1999 the Industry Division reported net sales of CHF 433 m. On
average, calculated over the past 5 years, this corresponds to a 16%
annual rate of growth. The proportion of sales accounted for by the
Industry Division rose between 1995 to 1999 from 18% to 26%. Of
this, over 50 % was generated overseas.
With an EBIT margin of 15.8% (1999), the division contributes significantly to the success of the Sika Group. Since 1995 the EBIT margin
has been rising by an average of 27 % per annum.
EBIT1
Industrial Materials
Segment profit
Industrial Materials
450
50
70
400
The segment profit has risen continually over the past 5 years, from
CHF 16 m in the year 1995 to CHF 48 m in 1999, i.e. around 30% per
year. In order to secure sustained growth, over the past 5 years we
have invested more than CHF 100 m in the Industry Division. In the
past year investment focused primarily on:
new production facilities for high-viscous adhesives and sealants
in the USA and Switzerland
a factory for the production of acoustic insulation material as
well as
an Acoustic Test Facility in the USA.
400
60
40
350
350
50
300
300
250
40
30
200
30
20
150
250
200
150
20
100
50
10
100
10
50
0
95 96 97 98 99
95 95 97 98 99
95 96 97 98 99
95 96 97 98 99
in CHF m
in CHF m
in CHF m
in CHF m
1 before
Goodwill amortisation
54
SIKA GROUP
Segment Information
by Business Activity
Construction Chemicals
%
in CHF m
1995
1996
1997
1998
1999
Industrial Materia
%
1995
Balance sheet
Subsidiaries
Current assets
Long-term assets
Total assets
452
367
819
55
45
100
513
384
897
57
43
100
523
379
902
58
42
100
546
405
951
57
43
100
620
438
1 058
59
41
100
66
84
150
44
56
100
1 108
829
279
116
64
41
100
75
25
10.4
5.8
3.7
1 130
806
324
124
74
44
100
71
29
11.0
6.6
3.9
1 243
834
409
146
94
47
100
67
33
11.7
7.6
3.8
1 197
830
367
129
78
48
100
69
31
10.8
6.5
3.9
1 256
880
376
155
93
51
100
70
30
12.3
7.4
4.0
238
130
108
39
26
16
100
55
45
16.5
10.9
6.7
61
52
6 026
353
80
81
86
87
57
49
5 859
356
79
79
85
86
57
52
5 626
362
76
77
81
82
77
51
5 566
357
75
73
80
80
81
54
5 562
376
73
67
79
79
15
12
949
52
20
19
14
13
Sika Finanz AG
Total attributable assets
(incl. Goodwill)
Total consolidated assets
Income statement
Subsidiaries
Consolidated net sales
Europe 1
Overseas
EBITDA
EBIT 2
Net profit for the year
Sika Finanz AG
Goodwill amortisation
Total attributable expenses 3
(incl. net financial expenses)
Group net profit after taxes
Key figures
Net capital expenditures 4
Depreciation of tangible fixed assets 5
Number of employees
Personnel expenses
1
2
3
4
5
including Africa
before Goodwill amortisation
including 1999 CHF 7 m (1998: CHF 7 m) operational expenses
at year end exchange rates acc. to the statement of tangible fixed assets and depreciation (see page 53)
at average exchange rates acc. to the statement of tangible fixed assets and depreciation (see page 53)
SIKA GROUP
54a
ls
82
99
181
279
141
138
52
39
24
15
13
1 054
60
Total
%
1996
1997
1998
1999
1995
1996
1997
1998
1999
45
55
100
100
50
50
18.7
14.1
8.4
21
21
15
14
88
110
198
357
167
190
78
61
38
44
56
100
100
47
53
22.0
17.1
10.8
18
15
1 292
81
SIKA GROUP
24
23
19
18
88
130
218
375
185
190
76
57
40
26
18
1 398
88
54b
40
60
100
100
49
51
20.2
15.3
10.8
25
27
20
20
98
162
260
433
210
223
95
68
48
30
26
1 482
98
38
62
100
100
48
52
22.0
15.8
11.1
27
33
21
21
518
451
969
53
47
100
595
483
1 078
55
45
100
611
489
1 100
56
44
100
634
535
1 169
54
46
100
718
600
1 318
143
150
121
202
154
1 112
1 228
1 221
1 371
1 472
1 346
959
387
155
90
57
100
71
29
11.5
6.7
4.2
1 409
947
462
176
113
68
100
67
33
12.6
8.1
4.8
1 600
1 001
599
224
155
85
100
63
37
14.0
9.7
5.4
1 572
1 015
557
205
135
88
100
65
35
13.0
8.6
5.6
1 689
1 090
599
250
161
99
(11)
(4)
10
54
46
100
100
65
35
14.8
9.5
5.8
47
3.4
59
4.2
77
4.8
79
5.0
93
5.5
76
64
6 975
405
100
100
100
100
72
62
6 913
416
100
100
100
100
75
67
6 918
443
100
100
100
100
103
69
6 964
445
100
100
100
100
111
80
7 044
474
100
100
100
100
Segment Information
by Region
Europe 1
in CHF m
America
%
1995
1996
1997
1998
1999
1995
1996
1997
199
Balance sheet
Subsidiaries
Current assets
Long-term assets
Total assets
371
304
675
55
409
57
399
57
436
58
477
60
75
48
98
49
121
50
116
45
306
43
300
43
320
42
322
40
82
52
102
51
123
50
152
100
715
100
699
100
756
100
799 100
157
100
200
100
244
100
268
10
100
947
100 1 001
86
806
Sika Finanz AG
Total attributable assets
(incl. Goodwill)
Total consolidated assets
Income statement
Subsidiaries
Consolidated net sales
Construction Chemicals
Industrial Materials
EBITDA
EBIT 2
Segment profit
959
829
130
112
66
45
85
834
100 1 015
83
830
82
234
100
282
100
392
100
403
10
880
81
158
67
179
63
244
62
246
210
14
141
15
167
17
185
18
19
76
33
103
37
148
38
157
11.7
113
12.0
143
14.3
139
13.7
168 15.4
29
12.3
40
14.2
58
14.7
49
12
6.9
68
7.3
99
9.9
95
9.4
115 10.5
4.7
40
4.2
60
6.1
65
6.4
65
34
47
36
49
54
52
73
44
71
43
64
44
64
18
7.8
30
10.6
43
10.9
31
6.8
11
4.5
19
6.8
26
6.6
20
55
50
12
15
24
34
29
38
44
49
60
10
16
10
16
14
21
17
74
Sika Finanz AG
Goodwill amortisation
Total attributable expenses 3
(incl. net financial expenses)
Group net profit after taxes
Key figures
Net capital expenditures 4
49
Depreciation of tangible fixed assets 5 47
Number of employees
4 427
Personnel expenses
308
1, 2, 3, 4, 5
63 4 268
62 4 070
59 4 166
60 4 237
60 1 604
23 1 552
22 1 720
25 1 796
76
76
70
70
70
16
16
21
314
311
312
331
63
68
92
55a
SIKA GROUP
100
98
1999
Asia/Pacific
%
Total
1995
1996
1997
1998
1999
1995
1996
1997
1998
1999
43
141
41
72
53
88
54
91
58
82
56
100
57
518
53
595
55
611
56
634
54
718
54
57
204
59
65
47
75
46
66
42
63
44
74
43
451
47
483
45
489
44
535
46
600
46
00
345 100
137
100
163
100
157
100
145
100
174 100
969
100
1 078
100
1100
100
1169
143
150
121
202
154
1112
1 228
1 221
1 371
1 472
100 1 409
100 1 600
100 1 572
82 1 130
80 1 243
78 1 197
00
424 100
153
100
180
100
207
100
154
100
61
241
57
121
79
145
81
165
80
121
79
135
77
1 108
39
183
40
23
238
18
279
20
357
22
25 14.2
155
11.5
176
12.6
224
14.0
74
375
24
26
205
13.0
43
32
21
35
19
42
20
33
21
.1
57 13.4
14
9.1
23
12.6
23
11.2
17
11.1
.8
32
7.4
3.9
15
8.3
13
6.2
5.5
14
8.3
90
6.7
113
8.1
155
9.7
135
8.6
161
9.5
4.8
16
3.7
0.4
4.9
0.9
2.3
5.0
57
4.2
68
4.8
85
5.4
88
5.6
99
5.8
433
250 14.8
(11)
(4)
10
47
3.4
59
4.2
77
4.8
79
5.0
93
5.5
43
50
45
15
20
14
19
10
13
76
100
72
100
75
100
103
100
111 100
24
22
28
11
13
10
15
12
12
64
100
62
100
67
100
69
100
80 100
26 1 847
26
944
14 1 093
16
1128
16 1 002
14
960
22
23
34
40
35
108
34
33
14 6 975
7
405
100 6 913
100 6 918
100 6 964
100
100
100
100
416
443
55b
445
474 100
SIKA GROUP
Segment Information
by Region
Europe
In 1999 the Europe region generated net sales of CHF 1 090 m, corresponding to about 65 % of the net sales of the Sika Group. Relative
to the previous year, the EBIT margin of the Europe region rose by
1.1 percentage points to reach 10.5%. Over the past five years EBIT in
EBIT1
Europe
1100
Segment profit
Europe
80
60
70
100
Net investments
Europe
50
60
1000
80
900
40
50
60
30
40
30
40
20
20
20
0
800
10
10
0
95 96 97 98 99
95 96 97 98 99
95 96 97 98 99
95 96 97 98 99
in CHF m
in CHF m
in CHF m
in CHF m
America
America saw net sales rise during the past five years by an average of
16 %, reaching CHF 424 m in 1999. Thanks to strongly improved EBIT
margins in North America, the Group was able to maintain its opera-
ting results in the America region as a whole. Between 1995 and 1999
Sika quadrupled its level of investment in America. In 1998 and 1999
this investment was concentrated primarily in North America.
EBIT1
America
45
400
40
350
35
300
30
250
25
200
20
150
15
100
10
50
Net investments
America
Segment profit
America
50
30
25
40
20
30
15
20
10
10
95 96 97 98 99
95 96 97 98 99
95 96 97 98 99
95 96 97 98 99
in CHF m
in CHF m
in CHF m
in CHF m
Asia/Pacific
In 1999 net sales in the Asia/Pacific region rose by 13% relative to the
previous year to reach CHF 175 m. The year-on-year EBIT margin increased by over 50 % to reach 8.0 % (5.5 %), while segment profit tripled to around CHF 9 m (CHF 3 m). These are further indications that
Net sales (consolidated)
Asia/Pacific
the economic situation in Asia is stabilising again. In view of the prevailing economic conditions, only minor investments amounting to
CHF 6 m were performed in the Asia/Pacific region in the year 1999.
EBIT1
Asia/Pacific
250
10
16
14
200
Segment profit
Asia/Pacific
16
14
12
12
6
10
150
10
8
100
8
6
50
4
0
2
0
Net investments
Asia/Pacific
-2
95 96 97 98 99
95 96 97 98 99
95 96 97 98 99
95 96 97 98 99
in CHF m
in CHF m
in CHF m
in CHF m
SIKA GROUP
55
1 before
Goodwill amortisation
Number of employees
at year end
average
92.8
1.8
373.7
99.9
92.7
29.8
1999
CHF m
1998
CHF m
1 688.9
956.1
732.8
1 571.6
900.6
671.0
94.6
638.2
473.6
51.7
20.2
29.8
62.9
638.2
70.4
5.7
351.5
93.7
78.7
26.7
76.1
594.9
445.2
47.6
23.4
26.7
52.0
594.9
7 044
7 004
6 964
6 941
91.1
85.7
SIKA GROUP
56
Scope of consolidation
Notes
Cash
Securities
Total
1999
CHF m
160
34
194
1998
CHF m
195
31
226
2 Accounts receivable
CHF 347 m (CHF 280 m)
Receivables
Bad debt provision
Total
1999
CHF m
375
28
347
1998
CHF m
307
27
280
3 Inventories
CHF 196 m (CHF 179 m)
Raw materials
Work in process
Finished products
Trading products
Total
1999
CHF m
55
12
111
18
196
1998
CHF m
50
13
100
16
179
Balance sheet at
31 December
Current assets
57
SIKA GROUP
Long-term assets
1999
CHF m
1 299
731
568
1998
CHF m
1 127
627
500
Geographical location:
Europe
North America
Latin America
Asia/Pacific
Africa
Total net book value
293
143
55
69
8
568
288
101
47
60
4
500
83
260
212
13
568
76
221
174
29
500
Historical costs
Accumulated depreciation
Total net book value
27
2
1998
CHF m
25
1
Insurance values:
Buildings
Equipment
SIKA GROUP
58
629
691
556
636
Duration 1999:
Operating leases
Finance leases
up to 1 yr
10
1
JP
28
33
7 Financial investments
CHF 115 m (CHF 115 m)
Investments in subsidiaries
Investments in long-term bonds
Goodwill
17
Other long-term assets
19
Total
Goodwill
(in CHF m)
Sika Egypt, Egypt
Holderchem Euco AG, Switzerland
Sternson, Canada
France Anticorrosion, France
Total
1 at
1999
CHF m
1998
CHF m
13
66
12
77
36
115
9
17
at
31/12/98
8.7
8.7
26
115
0.4
Additions
Depreciations 1
1999 previous year
1999
1.9
10.1
2.0
1.1
0.2
0.9
0.1
12.1
4.2
at
31/12/99
7.2
8.1
0.9
0.8
17.0
end-of-year rates
9 Accounts payable
CHF 109 m (CHF 91 m)
59
Short-term
liabilities
SIKA GROUP
Long-term
liabilities
10 Tax liabilities
CHF 24 m (CHF 17 m)
12 Accrued expenses
CHF 80 m (CHF 75 m)
13 Bank loans
CHF 75 m (CHF 48 m)
15 Provisions
CHF 124 m (CHF 123 m)
Provisions of pensions include obligations towards personnel in respect to long-term service awards, indemnities and
pension schemes (see page 66), unless covered by autonomous funds (of which Germany CHF 46 m, CHF 45 m in the
previous year, actuarially calculated in accordance with new
guideline tables).
For guarantees and sundry risks, the subsidiaries and the
Group formed the necessary provisions from a economic
and legal perspective. These are consistent with the conservative business policy of an international group active in
the field of speciality chemicals.
1999
CHF m
66
30
28
124
Provision of pensions
Guarantees
Sundry
Total
1998
CHF m
66
28
29
123
16 Bonds
CHF 0 m (CHF 100 m) short-term
CHF 135 m (CHF 132 m) long-term
1999 1998
Maturity
Interest
rate
Date of
interest
payment
CHF m
Bond
100.0 1994/1999
5.25 %
14 July
Convertible bond
150.0 150.0 1998/2004
1.00 %
14 July
20.0 20.0 equity component per issue
4.6
1.5 interest rate component*
134.6 131.5
* increase 1999: CHF 3.1 m
SIKA GROUP
60
18 Minority interests
CHF 10 m (CHF 10 m)
rily of the retained net profit of the year (see page 61, note 19).
Shareholders
equity
Registered shares
Bearer shares
Share capital
Reserves
Retained earnings and balance
to be carried forward
Net profit
Consolidated
shareholders equity
Minority interests
Consolidated Group equity
1999
CHF m
35
116
151
247
1998
CHF m
35
117
152
254
275
132
238
58
805
10
815
702
10
712
CHF 60. (see Page 40, note 14) was set off against the share capital
in accordance with IAS 32. The proportion exceeding the nominal
value was set off against the reserves. The reduction in reserves is
attributable to this procedure.
The reserves of CHF 247 m (CHF 254 m) contain like in previous
year CHF 7.7 m in retained earnings of Sika Finanz AG, premiums
generated by increases in share capital, as well as CHF 20.0 m
shareholders equity components from the issue of the 1 % convertible bond CHF 150 m 19982004 (see page 60, note 16).
The increase in retained earnings is primarily attributable to the
withheld earnings.
The profit of CHF 132.1 m are made up of the Group net profit of
CHF 92.7 m (CHF 78.7 m) less the minority interests of CHF 1.8 m
(CHF 3.5 m) plus the differences arising from translation and valuation of the subsidiariess equity of CHF 41.2 m (CHF 17.8 m).
The Groups equity finances 55.4 % (51.9 %) of the balance sheet total, and in addition to the tangible long-term assets also covers
16.8 % (12.7 %) of the current assets.
1999
CHF m
20
27
1998
CHF m
29
25
operating leases are shown under tangible fixed assets (see page 58,
note 6).
Larger purchases of raw materials and finished products in foreign
currencies, are partially hedged by the subsidiaries on a local basis.
On the buying side, Sika concludes agreements for important raw
materials on Group level (lead-buying).
No financial instruments for trading purposes were contracted.
There were no future commitments which surpass normal business
activity at the time of the review.
During the first quarter of 2000, Cufadan Marine, Denmark (budgeted net earnings of about CHF 8 m) was acquired. This company is
active in the field of shipbuilding.
Up until the moment of the Group accounts audit no significant
events occurred with the exception of those mentioned above
which exceed the normal business development and which need to
be disclosed in the Notes. Furthermore, there are no contingent
liabilities which are not covered by insurance or provisions.
61
SIKA GROUP
Income statement
21 Net sales
CHF 1 689 m (CHF 1 572 m)
All regions - with the exception of Latin America (10.8 %), although
this region as well saw growth in the fourth quarter of 1999
recorded dynamic growth. Overall, net sales rose by 7.5 %. Europe
reported growth of 7.4 %. The other regions reported double-digit
growth in Swiss francs North America 15.9 %, Asia/Pacific 12.9 %
and Africa 12.2 %.
22 Gross profit
CHF 820 m (CHF 748 m)
The cost of goods sold represents the material cost of the invoiced
products and services.
The manufacturing overheads contain the expenditures performed
1999
CHF m
577
34.1 %
292
17.4 %
820
48.5 %
1998
CHF m
545
34.7%
278
17.7%
748
47.6%
1999
CHF m
451
26.7 %
126
7.5 %
242
14.3 %
1998
CHF m
430
27.3%
120
7.6%
199
12.7%
through the marketing side for Construction Chemicals and Industrial Materials. In total, about 4 % of the Groups net sales were
spent on these items.
The global networking of the information systems and the implementation of SAP R/3 caused administration expenses to rise by
CHF 6 m. In percentage terms of net sales, administration expenses
remained stable at 7.5 % (7.6 %).
Development activities are strongly linked to research activities, and
are not clearly attributable to a specific product or group of products. For this reason, development expenditure is shown in the
profit and loss account.
The selling expenses contain losses from accounts receivable and
guarantee expenditure.
The sharp rise in operating profit before depreciation of 21.7 %
demonstrates the productivity improvements achieved at all levels
of the Sika organisation.
24 Depreciation
CHF 93 m (CHF 70 m)
1999
CHF m
81
8
4
93
1998
CHF m
68
2
70
SIKA GROUP
62
25 Operating profit
CHF 150 m (CHF 129 m)
Financial expenses
Financial income
Net expenses
1999
CHF m
20.2
14.0
6.2
1998
CHF m
23.4
15.0
8.4
Sundry expenses
Sundry income
Net income ()
1999
CHF m
11.3
12.3
1.0
1998
CHF m
4.7
10.7
6.0
29 Taxes
CHF 51.7 m (CHF 47.6 m)
Taxes
on earnings
on capital
Withholding taxes
on dividends
on licences
Total
1999
CHF m
1998
CHF m
46.9
1.1
43.1
0.9
1.9
1.8
51.7
1.7
1.9
47.6
63
SIKA GROUP
31 Minority interests
CHF 1.8 m (CHF 3.5 m)
1999
Basic earnings per share:
Group earnings 1
KCHF
90 911
Weighted average number of shares
Bearer shares 2
units 1 944 976
Registered shares
units 3 505 044
Basic earnings per share
Bearer share 3
CHF
35.95
Registered share 4
CHF
5.99
Diluted earnings per share:
Group earnings 1
KCHF
90 911
Weighted average number of shares
Bearer shares 2
units 1 944 976
Registered shares
units 3 505 044
Diluted earnings per share
Bearer share 3
CHF
35.95
Registered share 4
CHF
5.99
1998
75 243
1 868 756
3 505 044
30.67
5.11
75 908
1 954 826
3 505 044
29.90
4.98
Cash flow
statement
SIKA GROUP
1999
CHF m
1998
CHF m
Financial expenses
Income statement
Financial income
Income statement
Undistributed profits of minorities
Income statement, cash flow statement
Decrease (-) / increase (+) in minority interest in equity
Statement of shareholders equity
Expenses (-) / income (+) arising out of equity valuation
Page 63, note 27
Translation and Valuation differences
Sundry
Other adjustments
20.2
14.0
0.9
0.5
0.2
0.8
0.6
4.6
23.4
15.0
2.4
2.6
0.5
9.5
2.7
8.3
64
Increase (-) / decrease (+) in current assets (excl. cash and cash equivalents)
Balance sheet
Increase (+) / decrease (-) in short-term interest-free liabilities 1
Balance sheet
Financial income v. financial revenues
Income statement, cash flow statement
Financial expenses v. financial outlays
Income statement, cash flow statement
Increase in net working capital
1
68.1
22.1
0.1
5.5
40.6
22.6
2.1
0.2
0.8
24.1
1999
CHF m
1998
CHF m
158.5
121.2
75.9
3.3
118.9
136.2
84.9
4.3
35.3
63.3
1999
CHF m
1998
CHF m
92.6
92.8
1.8
187.2
78.7
70.4
5.7
154.8
Cash flow
income statement
balance sheet
1999
CHF m
1998
CHF m
158.5
118.9
108.8
12.1
0.5
10.6
26.5
107.2
-8.7
0.8
7.9
4.1
The free cash flow is based on the cash flow statement. The
increase is attributable to the increased Group net profit as
well as the increased level of depreciation.
Acquisitions during the year under review resulted in
goodwill payments amounting to CHF 12.1 m (see page 59,
note 7).
1 see
2 at
65
SIKA GROUP
Segmental
currency impact
Employee
benefits
1999
CHF m
1998
CHF m
By Region:
Europe
North America
Latin America
Asia/Pacific
Africa
Net sales consolidated
1 051
279
145
175
39
1 689
979
240
163
154
36
1 572
2.2
+3.8
16.0
+11.1
+0.6
1.4
+7.4
+15.9
10.8
+12.9
+12.2
+7.5
+9.6
+12.1
+5.2
+1.8
+11.6
+8.9
By Business Activity:
Construction Chemicals Division
Industry Division
Net sales consolidated
1 256
433
1 689
1 197
375
1 572
2.0
+0.6
1.4
+5.0
+15.4
+7.5
+7.0
+14.8
+8.9
In accordance with respective national statutory requirements, most of the Group companies have retirement benefit
plans. These are generally organised through insurance companies. The exceptions are Sika Japan and the German subsidiaries, which provide for the pension obligations in the ba-
Swiss Sika
companies
Annual
corporate expenditure
Actuarial
capital
Assets
Plan
Surplus of cover ()
Shortage of cover (+)
1999
1998
1999
CHF m
1998
CHF m
1999
CHF m
1998
CHF m
1999
CHF m
1998
CHF m
1999
CHF m
1998
CHF m
1 262
1 265
7. 4
7.3
156
148
189
175
33
28
1 489
1 462
4.3
3.5
46
45
46
45
Sika SA (France)
513
524
2.0
1.8
494
495
1.9
1.8
114
111
1.5
0.8
13.1
9.6
10.2
6.5
2.9
3.1
SIKA GROUP
66
Country
2.4 %
2.7 %
3.77%
6.0 %
13.65 %
Total
CHF m
14.0
4.8
3.2
7.7
3.2
up to
1 year 1
CHF m
7.0
4.8
0.1
6.9
3.2
18.8 %
6.3
6.3
Canada
USA
6.72 %
6.8 %
8.6
57.7
3.8
20.3
Argentina
14.2 %
4.6
4.6
2.0 %
12.2
6.5
Switzerland
Switzerland (Equipment)
Germany
France
Greece
Italy
Poland
Portugal
Spain
Japan
Discounted notes
CHF m
CHF m
1999
1998
1.1
10.0
10.6
1.2
2.9
1.3
6.7
4.4
8.1
Bank loans
Interest 3
15
years 2
CHF m
7.0
over
5 years 2
CHF m
2.0
0.8
1.1
3.7
37.4
1.1
Discounted notes
(> CHF 1 m)
and Bank loans
(> CHF 3 m)
5.7
Long-term bank loans refer to mortgage loans, short-term loans refer to business credits partially covered by mortgages.
1 short-term bank loans
2 long-term bank loans
3 average interest rate
Share capital
of which Sika
50%
Subsidiary companies
Sika-Trocal GmbH, Troisdorf, Germany
Company equity
Stake
Sika-Trocal SA, Le Bourget, France
Company equity
Stake
CHF
CHF
8m
4m
DEM
1.5 m
100%
FRF
8.3 m
100%
Share capital
of which Sika
45%
held by Sika AG, Zurich
BHD
BHD
KCHF
1.00 m
0.45 m
1 863
Share capital
of which Sika
40%
held by Sika AG, Zurich
INR
INR
KCHF
8.0 m
3.2 m
1 149
Associated
companies
(shareholdings
of between
2050 %)
The specified investments have been consolidated using the equity method, by which
the increase of converted shareholders equity is recorded as sundry income
the decrease of converted shareholders equity is recorded as sundry expenses
in the Group accounts.
67
SIKA GROUP
Country
Currency
1999
Balance
Sheet 1
1999
Income
Statement 2
1998
Balance
Sheet 1
1998
Income
Statement 2
Europe
Belgium
Denmark
Germany
France
Great Britain
Italy
Netherlands
Norway
Austria
Portugal
Sweden
Spain
BEF
DKK
DEM
FRF
GBP
ITL
NLG
NOK
ATS
PTE
SEK
ESP
100
100
100
100
1
100
100
100
100
100
100
100
3.92
21.20
80.75
24.10
2.51
0.08
71.70
19.40
11.50
0.79
18.30
0.95
3.94
21.50
81.72
24.37
2.42
0.08
72.54
19.22
11.62
0.80
18.12
0.96
3.92
21.15
80.93
24.12
2.24
0.08
71.75
17.71
11.50
0.78
16.64
0.94
3.99
21.58
82.19
24.52
2.39
0.08
72.92
19.07
11.68
0.80
18.15
0.97
North America
Canada
USA
CAD
USD
1
1
1.05
1.56
1.01
1.50
0.87
1.34
0.98
1.45
Latin America
Argentina
Brazil
Chile
Colombia
Mexico
ARS
BRL
CLP
COP
MXN
1
1
100
100
100
1.56
0.82
0.29
0.08
16.55
1.50
0.84
0.30
0.09
15.56
1.34
1.12
0.28
0.08
13.55
1.45
1.25
0.32
0.10
15.96
Asia /Pacific
Australia
Indonesia
Japan
Korea
Malaysia
Thailand
AUD
IDR
JPY
KRW
MYR
THB
1
100
100
100
1
100
0.99
0.02
1.52
0.13
0.41
4.03
0.97
0.02
1.32
0.13
0.39
3.97
0.83
0.02
1.14
0.11
0.35
3.72
0.91
0.01
1.11
0.10
0.37
3.52
Africa
Egypt
South Africa
EGP
ZAR
1
1
0.45
0.25
0.44
0.24
0.39
0.22
0.42
0.26
This list contains all foreign currency exchange rates for Sikas most important markets on all continents.
SIKA GROUP
68
Five-year-Review
Group Balance Sheet at 31st December
In CHF m
1995
1996
1997
1998
1999
1 112
1 228
1 221
1 371
1 472
Current assets
Cash and securities
Accounts receivable
Inventories
Other short-term assets
574
122
246
165
41
665
174
268
175
48
669
157
292
173
47
756
226
280
179
71
789
194
347
196
52
538
435
103
563
466
98
552
464
88
615
500
115
683
568
115
222
39
78
105
309
34
96
179
262
46
90
126
349
38
91
220
311
71
109
131
Long-term liabilities
Bank loans and other long-term liabilities
Provisions
Bonds
382
54
104
224
340
62
114
164
349
68
117
164
311
57
123
131
345
86
124
135
Shareholders equity
Capital
Reserves
Retained earnings and balance to be carried forward
Net profit after translation and valuation differences
496
152
181
149
14
566
152
181
141
92
597
152
182
211
52
702
152
254
238
58
805
151
247
275
132
Minority interests
Consolidated group equity
12
508
14
580
13
610
10
712
10
815
47
2
31
59
2
35
77
3
22
79
3
18
93
2
41
104
60
51
15
21
Gearing in %
(f : e)
Equity ratio in %
(e : a)
Tangible fixed assets as % of total assets
(c : a)
Shareholders equity as % of tangible fixed assets (e : c)
Current ratio in %
(b : d)
20
46
39
117
259
10
47
38
125
215
8
50
38
131
255
2
52
36
142
217
3
55
39
144
254
Long-term assets
Tangible fixed assets
Financial investments
Short-term liabilities
Bank loans
Accounts payable
Other short-term liabilities 1
1 1996
2 Net
debt:
Interest bearing liabilities (short- and long-term bank loans + bonds)
./. interest bearing current assets (cash and securities)
./. investments in long-term bonds.
69
SIKA GROUP
Five-year-Review
Group Income Statement
In CHF m
Net sales
Cost of goods sold
Manufacturing overheads
Gross profit
Selling and R + D expenses
Administration expenses
EBITDA
Depreciation and amortisation
EBIT
Financial income
Financial expenses
Sundry income
Sundry expenses
Group net profit before taxes
Taxes
Group net profit after taxes
including minority interests
Discontinued operations
Net sales
Profit (+)/ Loss (-) after taxes
Cash flow 1
Cash flow
Gross profit
Operating profit
Return on sales
Return on equity
as % of net sales
as % of net sales
as % of net sales
in %
in %
1995
1996
1997
1998
1999
1 346
488
252
606
357
100
149
65
84
13
23
15
13
76
29
47
2
1 409
505
256
648
374
104
171
63
107
10
20
14
15
96
37
59
2
1 600
566
276
758
423
117
218
80
138
16
26
14
12
130
53
77
3
1 572
546
278
748
429
120
199
70
129
15
23
11
5
126
47
79
4
1 689
577
292
820
452
126
242
92
150
14
20
12
12
144
51
93
2
81
1
68
1
115
8.5
45.0
6.3
3.5
9.2
132
9.4
46.0
7.6
4.2
10.2
160
10.0
47.4
8.6
4.8
12.7
155
9.9
47.6
8.2
5.0
11.1
187
11.1
48.5
8.9
5.5
11.4
825
51
10.1
840
67
12.8
892
81
15.4
960
78
13.4
1 076
96
13.9
b
c
(a : b)
in %
see page 65
NOA:
SIKA GROUP
70
contains exclusively assets used for operating purposes, excluding short-term liabilities
(annual average of the positions as at 1.1. and 31.12.).
corresponds to operating profit (EBIT) following the deduction of adjusted taxes. These comprise the Groups tax expenditure and
the tax shield (positive and negative tax effects of non-operational items).
EBIT in percentage of Net Operating Assets (NOA).
Five-year-Review
Employees
1995
1996
1997
1998
1999
Europe
including Switzerland
Germany
France
North America
including USA
Latin America
including Brazil
Asia / Pacific
including Japan
Africa
4 126
1 043
1 328
653
716
653
888
221
944
185
301
3 941
995
1 266
508
717
654
835
177
1 093
152
327
3 775
1 002
1 112
496
772
701
948
175
1 128
145
295
3 869
1 012
1 065
558
812
738
984
168
1 002
135
297
3 904
1 022
1 069
548
908
816
939
135
960
126
333
Total
6 975
6 913
6 918
6 964
7 044
6 026
949
6 975
5 859
1 054
6 913
5 626
1 292
6 918
5 566
1 398
6 964
5 562
1 482
7 044
316
89
405
324
92
416
347
96
443
351
94
445
374
100
474
30
30
28
28
28
193
72
204
77
231
87
226
86
240
91
71
SIKA GROUP
Five-year-Review
Net sales by Production Area
1996
1997
1998
1999
1 148
299
354
164
145
129
96
30
161
63
23
1 141
280
333
156
181
163
110
35
189
60
27
1 164
265
331
150
239
215
160
45
216
61
35
1 207
258 2
340 2
158
246
220
167
46
163
51
37
1 297
283
358
169
285
254
150
32
184
64
42
Intercompany sales
227
239
214
248
269
1 346
81
1 409
68
1 600
1 572
1 689
1995
1996
1997
1998
1999
937
168
327
146
139
124
95
30
153
58
22
922
145
305
136
175
157
107
35
180
56
25
968
158
299
127
235
211
157
45
207
56
33
1 346
81
1 409
68
1 600
In CHF m (consolidated)
SIKA GROUP
72
979
142 2
295 2
131
240
215
163
46
154
47
36
1 572
1 051
156
305
140
279
248
145
32
175
58
39
1 689
Five-year-Review
Net sales by Market Area
In CHF m (consolidated)
1995
1996
1997
1998
1999
913
127
329
147
143
124
98
30
164
59
28
898
116
301
135
178
157
111
35
190
57
32
943
130
291
126
237
211
161
47
219
58
40
1 346
81
1 409
68
1600
1 572
1 689
1995
1996
1997
1998
1999
Europe
including Switzerland
Germany
France
North America
including USA
Latin America
including Brazil
Asia / Pacific
including Japan
Africa
284
65
58
42
59
49
75
22
111
23
6
276
52
55
39
66
56
82
26
133
24
8
300
58
50
39
72
60
101
31
147
24
13
283
29 2
43 2
42
78
66
105
30
126
25
21
308
31
46
48
87
68
98
25
128
38
26
Total consolidated
535
565
633
613
647
945
113 2
289 2
130
244
214
169
48
171
49
43
1 018
122
303
139
283
243
151
34
188
60
49
73
SIKA GROUP
Five-year-Review
Sales by Business Activity
and Main Product Groups
In CHF m (consolidated)
1995
1996
1997
1998
1999
By business activity
Construction Chemicals
Industrial Materials
Total net sales
1 108
238
1 346
1 130
279
1 409
1 243
357
1 600
1 197
375
1 572
1 256
433
1 689
363
389
318
152
1 222
398
434
333
145
1 310
470
531
391
125
1 517
449
550
384
99
1 482
469
623
401
108
1 601
Allowances
Net sales main product groups
26
1 196
29
1 281
26
1 491
23
1 459
25
1 576
150
1 346
128
1 409
109
1 600
113
1 572
113
1 689
1995
1996
1997
1998
1999
By business activity
Construction Chemicals
Industrial Materials
Total
513
22
535
539
26
565
603
30
633
580
32
613
611
36
647
372
39
64
60
535
404
43
69
49
565
465
47
77
44
633
469
51
78
15
613
491
57
83
16
647
SIKA GROUP
74
Five-year-Review
Fire Insurance Cover on Buildings, Net Book Value of Buildings, Land,
Net Capital Expenditures, Depreciation of Tangible Fixed Assets
1995
1996
1997
1998
1999
1 526
190
213
147
343
30
1 525
193
213
147
343
30
1 509
192
213
147
331
30
1 817
192
202
147
511
30
1 822
190
202
146
480
27
489
178
74
79
24
19
520
181
91
60
29
19
539
186
99
57
35
20
556
195
97
58
38
21
629
207
100
58
68
28
195
80
22
14
17
10
207
83
22
15
22
10
212
79
22
14
32
9
221
74
21
13
32
9
260
72
20
13
41
12
76.0
20.8
9.7
8.5
11.6
2.7
72.3
15.2
6.0
3.9
17.8
2.3
75.4
9.7
9.6
5.6
20.6
2.5
103.1
12.6
10.2
7.7
28.0
2.6
111.0
19.9
9.0
6.5
42.1
3.4
62.5
63.8
63.2
66.4
81.5
including Switzerland
Germany
France
USA
Japan
19.7
9.4
6.2
7.5
4.3
19.0
9.2
5.6
7.0
3.4
18.0
8.4
5.2
9.1
3.7
18.6
8.4
5.7
10.5
3.9
20.5
8.6
6.8
18.5
5.0
21.5
+5.3
2.7
30.9
9.2
30.2
0.8
13.0
1.6
0.9
1.4
36.2
37.9
67.4
1 at year end exchange rates, see statement of tangible fixed assets and depreciation, page 53
2 see statement of tangible fixed assets and depreciation, page 53
3 net capital expenditures depreciation of tangible fixed assets + translation differences + net revaluation
75
SIKA GROUP
Beat Rthlisberger
Swiss Certified Accountant
Partner
SIKA GROUP
76
Armin Hegglin
Swiss Certified Accountant
Partner (in charge of the audit)
PET-Technology: Sikafloor-325
made of used PET-bottles.
Characteristics:
excellent chemical resistance
to inorganic and organic acids;
good workability;
high wear resistance and
cost-effectiveness.
Cologne Arena, Cologne. Germanys largest events centre with a capacity for 18 000 visitors. The roofing sheet Sikaplan-15G and Trocal
SGK were used to seal the 700 t sandwich roof.
Sustainability as principle
Cruise ship SuperStar Virgo (built at the Meyer Shipyard, Germany for
Star Cruises, Malaysia)
direct glazing with Sikaflex-296;
flame-retardant bonding and sealing with Sikaflex-852;
Sika Flooring System for underneath the teakdeck;
fire resistant cable- and power-lead ducts.
Important Dates
2000
2001
Wednesday, 31 May
Tuesday, 6 June
Tuesday, 22 August
Tuesday, 14 November
Wednesday, 30 May
Wednesday, 6 June
Sika Finanz AG
Published by
Sika Finanz AG, Baar
Project Management
Torsten Wyss, Sika Finanz AG, Baar
Zugerstrasse 50
CH-6341 Baar
Phone ++41 41-768 68 00
Fax
++41 41-768 68 50
E-Mail sfag@ch.sika.com
www.sika.com
Sika Finanz AG
Zugerstrasse 50
CH-6341 Baar
Phone ++41 41-768 68 00
Fax
++41 41-768 68 50
E-Mail sfag@ch.sika.com
www.sika.com
Sika ViscoCrete - 10
Date of issue - 26/09/2005.
SKVS3082
SKVS3082
Product Name
Sika ViscoCrete - 10
Product Description
Manufacturer/Supplier
Sika Limited
Watchmead
Welwyn Garden City
Hertfordshire.
AL7 1BQ
tel. 01707 394444
Fax. 01707 329129
Chemical Characteristic
3. HAZARD IDENTIFICATION
Main Hazards
Skin Contact
Ingestion
Inhalation
Not combustible.
Select extinguishing agent appropriate to other materials involved.
Combustion will produce smoke,carbon dioxide and carbon
monoxide.
See also Section 10.
CM Version - 2
Page: 1/3
SKVS3082
Storage
Hand Protection
Eye Protection
Liquid.
Color
Yellowish-brown.
Odor
Characteristic.
pH
4-5
Solubility - Water
Completely soluble.
Density (kg/m3)
Approx. 1060 at 20 C.
Conditions to avoid
Eye irritation
Skin irritation
Persistence/degradability
Ecotoxicity
CM Version - 2
Page: 2/3
SKVS3082
13. DISPOSAL
Product Disposal
Container Disposal
IMDG :
IATA :
None assigned.
Safety Phrases
None assigned
Contains
Triisobutyl phosphate
May produce an allergic reaction
28.01.2004
Revisions Highlighted
Regulatory Information
UK Legislation
Health and Safety at Work etc Act, 1974, and relevant Statutory
Provisions.
SI 2002/1689: Chemicals (Hazard Information and Packaging)
Regulations
SI 2002/2677: The Control of Substances Hazardous to Health
Regulations
SI No 2839 1991 Environmental Protection (Duty of Care)
Regulations.
Approved Code of Practice - Management of Health and Safety at
Work, HSE.
General Approved Code of Practice to COSHH Regulations, HSE.
UK Guidance Publications
Footnote
March 2004
Sika ViscoCrete 10
Technical Data
DESCRIPTION
Form:
Liquid
Colour:
Pale Straw
Relative Density
@ 20C:
1.06
Dry Material
Content %:
30
USES
Dosage % by
Wt of Cement:
0.2-1.5
pH Value:
4.5
Water Soluble
Chloride Content %:
*
*
*
ADVANTAGES
*
*
*
*
*
Multi functional
Excellent slump retention
High early strengths
Rheology improver
Cost effective
Equivalent Sodium
Oxide as Na2O:
0.30
METHOD OF USE
IMPORTANT NOTES
DISPENSING
PACKAGING
All
Handling Precautions
Sika products are generally harmless provided that certain precautions normally taken when handling chemicals are observed. The materials must not, for instance, be allowed to come in contact with foodstuffs or food utensils and
measures should also be taken to prevent the uncured materials from coming in contact with the skin, since people with particularly sensitive skin may be affected. The use of protective clothing, goggles, barrier creams and rubber gloves
is required. The skin should be thoroughly cleaned at the end of each working period either by washing with soap and warm water or by using a resin-removing cream - the use of powerful solvents is to be avoided. Disposable paper
towels - not cloth towels - should be used to dry the skin. Adequate ventilation of the working area is recommended. In case of accidental eye or mouth contact, flush with water - consult a doctor immediately. Health and Safety information
on Sika Products is available and we strongly advise that this is read prior to their use. Sika products are for professional use and should be stored in sealed containers away from the reach of children.
Important Note
The information, and, in particular, the recommendations relating to the application and end-use of Sika products, are given in good faith based on Sikas current knowledge and experience of the products when properly stored, handled
and applied under normal conditions. In practice, the differences in materials, substrates and actual site conditions are such that no warranty in respect of merchantability or of fitness for a particular purpose, nor any liability arising out of
any legal relationship whatsoever, can be inferred either from this information, or from any written recommendations, or from any other advice offered. The proprietary rights of third parties must be observed. All orders are accepted subject
to our current terms of sale and delivery. Users should always refer to the most recent issue of the Technical Data Sheet for the product concerned, copies of which will be supplied on request.
Sika ViscoCrete 10
Sika ViscoCrete10
Construction
Product
Description
Sika ViscoCrete 10 is a liquid admixture for concrete which is used as a highrange water reducer/superplasticiser. It meets the requirements of BS EN 934-2
tables 3.1 & 3.2
Uses
Concrete with high water reduction to meet low w/c ratio requirements
Improved rheology
Improved durability
Characteristics /
Advantages
Tests
Approval / Standards
Product Data
Form
Appearance / Colours
Straw Liquid
Packaging
25 litre drum, 200 litre drum, 1000 litre IBC and Bulk Tanker
Storage Conditions /
Shelf Life
1/3
Sika ViscoCrete10
Technical Data
Chemical Base
Modified polycarboxylate
Density
pH Value
4.2 + 1.0
Freezing Point
+1C
Air Entrainment
Negligible
Effect on Setting
Effect of Overdosing
Alkali Content
<0.40% w/w
Mechanical / Physical
Properties
Compressive Strength
w/c ratio
Slump (mm)
Air cont %
28 day
Compressive
Strength
N/mm2
Control
(350 kg/m3)
None
0.71
80
1.3
44.0
Sika
ViscoCrete
10
0.50
0.56
80
1.6
62.0
Admixture
System
Information
Application Details
Consumption / Dosage
Application
Conditions /
Limitations
Compatibility
Sika Admixtures:
Compatibility information available on request
Cements:
Dispensing
Application Method /
Tools
When using Sika ViscoCrete 10 a suitable mix design is required and local
material sources should be evaluated.
Application
Instructions
Notes on Application /
Limitations
2/3
Sika ViscoCrete10
Construction
Value Base
All technical data stated in this Product Data Sheet are based on laboratory tests.
Actual measured data may vary due to circumstances beyond our control.
Local Restrictions
Please note that as a result of specific local regulations the performance of this
product may vary from country to country. Please consult the local Product Data
Sheet for the exact description of the application fields.
For information and advice on the safe handling, storage and disposal of chemical
products, users shall refer to the most recent Material Safety Data Sheet containing
physical, ecological, toxicological and other safety-related data.
Legal Notes
CE Labelling
SIKA LIMITED
Head Office Watchmead Welwyn Garden City
Hertfordshire AL7 1BQ United Kingdom
Phone: +44 1 707 394444 Fax: +44 1 707 329129 www.sika.co.uk
3/3
Sika ViscoCrete10
Page
Page
Page
The information contained in this Safety Data Sheet corresponds to our level of
knowledge at the time of publication.
pub
All warranties are excluded.
cluded. Our most
current General Sales Conditions shall apply. Please consult the Technical Data
Sheet prior to any use and processing.
March 2004
Sika ViscoCrete 10
Technical Data
DESCRIPTION
Form:
Liquid
Colour:
Pale Straw
Relative Density
@ 20C:
1.06
Dry Material
Content %:
30
USES
Dosage % by
Wt of Cement:
0.2-1.5
pH Value:
4.5
Water Soluble
Chloride Content %:
*
*
*
ADVANTAGES
*
*
*
*
*
Multi functional
Excellent slump retention
High early strengths
Rheology improver
Cost effective
Equivalent Sodium
Oxide as Na2O:
0.30
METHOD OF USE
IMPORTANT NOTES
DISPENSING
PACKAGING
All
Handling Precautions
Sika products are generally harmless provided that certain precautions normally taken when handling chemicals are observed. The materials must not, for instance, be allowed to come in contact with foodstuffs or food utensils and
measures should also be taken to prevent the uncured materials from coming in contact with the skin, since people with particularly sensitive skin may be affected. The use of protective clothing, goggles, barrier creams and rubber gloves
is required. The skin should be thoroughly cleaned at the end of each working period either by washing with soap and warm water or by using a resin-removing cream - the use of powerful solvents is to be avoided. Disposable paper
towels - not cloth towels - should be used to dry the skin. Adequate ventilation of the working area is recommended. In case of accidental eye or mouth contact, flush with water - consult a doctor immediately. Health and Safety information
on Sika Products is available and we strongly advise that this is read prior to their use. Sika products are for professional use and should be stored in sealed containers away from the reach of children.
Important Note
The information, and, in particular, the recommendations relating to the application and end-use of Sika products, are given in good faith based on Sikas current knowledge and experience of the products when properly stored, handled
and applied under normal conditions. In practice, the differences in materials, substrates and actual site conditions are such that no warranty in respect of merchantability or of fitness for a particular purpose, nor any liability arising out of
any legal relationship whatsoever, can be inferred either from this information, or from any written recommendations, or from any other advice offered. The proprietary rights of third parties must be observed. All orders are accepted subject
to our current terms of sale and delivery. Users should always refer to the most recent issue of the Technical Data Sheet for the product concerned, copies of which will be supplied on request.
Sika Viscocrete - 10
Construction
Description
Sika Viscocrete -10 is a third generation superplasticiser for concrete and mortar.
It is particularly developed for the production of high flow concrete with exceptional
flow retention properties.
Complies with A.S.T.M. C 494-92 Type F
Uses
Sika Viscocrete -10 is especially suitable for concrete mixes with prolonged
transportation time and long workability, powerful water reduction and excellent
flowability.
Sika Viscocrete -10 is suitable for the production of both precast concrete and
ready mix concrete.
Sika Viscocrete facilities extreme water reduction, excellent flowability with the
same time optimal cohesion and highest self compacting behaviour.
Sika Viscocrete -10 is mainly used for the following applications :
Concrete with a very high water reduction (up to 30%)
High performance concrete
Concrete in summer and with a prolonged transportation and workability time
Watertight concrete
Ready mix Concrete
Self compacting Concrete
High Strength Concrete
Watertight Concrete
Mass Concrete
Advantages
Sika Viscocrete -10 does not contain chlorides or other ingredients promoting
corrosion of steel reinforcement. It is therefore suitable for reinforced and
prestressed steel.
Product Data
Appearance / Colour
Packaging
Back
Table of Contents
1/3
Shelf-Life
Storage Condition /
Technical Data
Chemical Base
Density
pH-Value
Specific density:
4.25 0.5
System Information
Dosage
Application
Conditions / Limits
Application Instructions
Dispensing
Sika Viscocrete -10 is added to the gauging water or simultaneously added with
water into the concrete mixer.
To take advantage of the high water reduction, a wet mixing time of at least 60
seconds is recommended.
To avoid excess water in the concrete, final dosage must start after 2/3 of wet
mixing time only.
Cleaning of Tools
Clean all tools and application equipment with water immediately after use.
Hardened/cured material can only be mechanically removed.
Notes on Application Limits If frozen and/or if precipitation has occurred, Sika Viscocrete -10 may be used
after thawing slowly at room temperature and after intensive mixing.
Protective Measure
Important Notes
Upon contact with skin, wash off with water and soap. In case on contact with eyes
or mucous membrane, rinse immediately with clean water and seek medical
attention without delay.
All technical data stated in this Product Data Sheet are based on laboratory tests.
Actual data may vary due to changing conditions beyond our control.
Residues of material must be removed according to local regulations. Fully cured
material can be disposed of as household waste under agreement with the
responsible local authorities.
Detailed health and safety information as well as detailed precautionary measures
e.g. physical, toxicological and ecological data be obtained from the safety data
sheet.
2/3
The information, and, in particular, the recommendations relating to the application and end-use of Sika
products, are given in good faith based on Sikas current knowledge and experience of the product when
properly stored, handled and applied under normal conditions in accordances with Sikas
recommendations. In practice, the differences in materials, substrates and actual site conditions are such
that no warranty in respect of merchantability or of fitness for a particular purpose, nor any liability arising
out of any legal relationship whatsoever, can be inferred either from this information, or from any written
recommendations, or from any other advice offered. The user of the product must test the products
suitability for the intended application and purpose. Sika reserves the right to change the properties of its
products. The proprietary rights of third parties must be observed. All orders are accepted subject to our
current terms of sale and delivery. Users must always refer to the most recent issue of the local Product
Data Sheet for the product concerned, copies of which will be supplied on request.
Construction
Legal Notes
Branches
Surabaya :
Puri Niaga Blok G No. 29, Jl. Raya Rungkut Menanggal 11, Surabaya
Tel : 031-8690202 ; Fax : 031-8682123
Medan :
Jl. Pancing / Jl. Willem Iskandar No.75 & 75 A, Kec. Medan Tembung
Tel : 061- 6619500; Fax : (061) 6619400
Batam :
Jl. Laksamana Bintan, Komp. Bumi Riau Makmur Blok E No.3, Sungai Panas
Tel : (0778) 424928; Fax : (0778) 450189
3/3