Thomas Hasler, CEO: "Sika has continued its growth momentum with a 6.1% growth in local currencies in the third quarter and 4.8% in the first nine months. This performance is attributed to continuous market share gains in a still muted market environment. Thanks to our leading global positions in attractive growth segments, particularly large infrastructure projects, data centres, and energy infrastructure, we have outgrown the market. Our market share gains in all markets are based on Sika's expertise, value-adding innovations, and strong partnerships with customers who increasingly trust our first-class solutions."
"At the same time, our excellent global supply chain makes us a reliable partner for a growing number of customers worldwide."
"One year after its launch, Sika's Fast Forward program is delivering the expected results. Our productivity measures have been successfully implemented, and we are on track to achieve savings of CHF 80 million by 2026. Going forward, we focus on solidifying our leading positions and accelerating growth initiatives to continue outpacing the market. Simultaneously, we are strategically investing in digitization, product innovations, and digital channels to enhance customer value. Fast Forward increases our competitiveness and lays the foundation for further sustainable and profitable growth."
Increase of Material Margin - EBITDA Margin at 19.2%
During the first nine months of 2026, Sika continued its growth trajectory and again outperformed the industry. The company increased its sales in local currencies by 4.8% and adjusted for the decline in the Chinese construction business by 6.2%. The currency effect on sales growth for the first nine months was -3.2%. During the same period, Sika achieved sales in Swiss francs of CHF 8.71 billion (2025: CHF 8.58 billion).
In the reporting period, Sika's material margin rose to 55.4% (2025: 55.0%), and the EBITDA margin stood at 19.2% (2025: 19.2%). Thanks to the positive effects from Fast Forward, disciplined pricing, and Sika's focus on innovative, first-class customer solutions, the increased costs were offset. The absolute operating profit before depreciation and amortization (EBITDA) was increased by 1.9% to CHF 1.68 billion in the first nine months (2025: CHF 1.64 billion).
Net profit for the first nine months amounted to CHF 887.8 million (2025: CHF 870.9 million).
Market Share Gains Across All Regions
In the first nine months of 2026, Sika realized a sales increase of 8.3% in local currencies in the EMEA region (Europe, the Middle East, Africa) (2025: 2.1%). In Germany, Sika accelerated its sales growth after the announcement of federal funds for extensive infrastructure projects brightened the market environment. The exceptional heatwaves in July and August affected construction activities in parts of Central and Southern Europe, leading to a short-term slowdown. However, the situation recovered in September. The Middle East achieved strong double-digit growth, driven primarily by the focus on investments in large infrastructure projects where Sika benefits from close customer partnerships and offers solutions for these complex buildings. In the EMEA region, the continuous strengthening of Sika's leadership position in strategically important growth segments, as well as investments in products and distribution channels, are leading to an acceleration of market share gains.
In the Americas region, sales in local currencies increased by 4.1% in the first nine months (2025: 2.9%). In the third quarter, this sales growth accelerated to 6.7%. Sika's business gained momentum thanks to strong developments in both new construction and the rehabilitation of large infrastructure projects. Sika again achieved double-digit growth rates in data centres, supplying more customers with a higher share of high-performance products in an increasing number of solutions. Sika achieved good growth in the first nine months in Canada with strong development in the mining solutions sector. Business in Latin America accelerated in the third quarter, mainly due to large infrastructure projects.
In the Asia/Pacific region, Sika's sales developed with -2.3% in local currencies in the first nine months (2025: -3.9%) and -2.7% in the third quarter. The Chinese construction industry recorded a double-digit decline, attributed to the ongoing weakness in residential construction. Adjusted for the Chinese construction business, the Asia/Pacific region recorded strong organic growth of 7.7%, mainly due to market share gains. Drivers were primarily India with a consistently strong infrastructure business, as well as Southeast Asia, benefiting from new projects in commercial construction.
Fast Forward on Track
The implementation of Fast Forward is on track to achieve the targeted savings of CHF 80 million by 2026. Thanks to targeted initiatives to increase productivity, including regional rationalization and operational optimization of production sites, Sika ended the reporting period with a monthly run rate in savings of CHF 8 million. Through Fast Forward, Sika strengthens its growth with targeted investments in digital solutions that accelerate innovations, customer benefits, and operational excellence. Sika is making good progress in implementing its growth strategies and expects total savings of CHF 150 to 200 million with an attractive ROI from 2028.
Acquisitions Strengthen Growth Platforms
In the third quarter, Sika completed the acquisition of Akkim, a globally leading manufacturer of adhesives and sealants based in Turkey. The acquisition strengthens Sika's position in the adhesives and sealants industry, opening up significant growth opportunities through a complementary product range, expanded distribution, broader geographic reach, and enhanced production capacities. Akkim is a fast-growing company, generating net sales of around CHF 220 million in 2025. Sika expects to double Akkim's sales within five years.
Furthermore, Sika acquired Azpects Group in October, a leading British manufacturer of polymer sands for landscaping. The acquisition offers attractive cross-selling opportunities thanks to the complementary product portfolios and distribution channels of both companies, while also strengthening Sika's position in this high-growth segment. Additionally, Sika has agreed to acquire the adhesives business of the Japanese chemical company Resonac Corporation, with closing planned for mid-2027.
Outlook
Sika reaffirms its half-year forecast from July for the full year: sales growth of 3% to 6% in local currencies, an EBITDA margin of 19.0% to 19.5%, and consensus expectations for EBITDA in Swiss francs of CHF 2,160 million by July 28, 2026.
Sika confirms its medium-term strategic targets for sustainable and profitable growth within the framework of Strategy 2028.
CONTACT
Dominik Slappnig
Corporate Communications & Investor Relations
+41 58 436 68 21
slappnig.dominik@ch.sika.com