(Including details from job distribution)
February 19 (Reuters) – Swiss construction chemicals maker Sika on Friday posted 2020 operating profit above analysts ’estimates and said company chief Thomas Hasler will replace Paul Schuler as chief executive on May 1.
Hasler is currently head of Sika’s global business and industry division, and has been a member of group management since 2014.
The company said operating profit for 2020 jumped 7.1% to 1.13 billion Swiss francs ($ 1.26 billion), beating analysts ’forecast of 1.10 billion francs.
Net profit increased 8.8% to 825.1 million francs.
Sika also proposed a 2020 share of 2.50 francs, up from the 2.30 franc pay rate for 2019.
The company, whose products are used to strengthen building materials and waterproofing, reported a 3.4% increase in local currency sales for 2020.
$ 1 = 0.8965 Swiss francs Reported by John Revill in Zurich and Vishal Vivek in Bengaluru; Edited by Devika Syamnath