Sika Reports 4.0% Local Currency Revenue Growth, Raises Full-Year Outlook

• Half-year sales increased 4.0% in local currencies to CHF 5.59 billion, while reported sales declined 1.5% in CHF due to a 5.5% negative foreign exchange impact.

• Organic sales growth reached 2.9%, supported by an acquisition contribution of 1.1%.

• Material margin improved by 60 basis points year-on-year, reaching 55.7%.

• EBITDA stood at CHF 1.06 billion, with an EBITDA margin of 19.0%, up 10 basis points from the previous year.

• Operating free cash flow totalled CHF 139.6 million, compared with CHF 181.9 million in the first half of 2025.

• The Fast Forward programme remains on track to deliver CHF 80 million in cost savings during 2026.

• Employee engagement reached a record 88 index points, exceeding the company's strategic target.

• 2026 outlook upgraded: Sika now expects sales growth of 3%–6% in local currencies and an EBITDA margin of 19.0%–19.5%, while remaining comfortable with current market consensus for EBITDA.

• The company reaffirmed its Strategy 2028 medium-term targets for sustainable and profitable growth.

During the first half of 2026, Sika reported 4.0% sales growth in local currencies, driven by organic growth of 2.9%. Growth accelerated in the second quarter, with local currency sales increasing 6.8% and organic growth reaching 5.7%, reflecting stronger revenue performance across all regions.

" In the first half of the year, Sika delivered improved momentum, with the second quarter building on our good start to the year. Our investments in industry-leading innovation, efficient global manufacturing and sourcing, and our digital transformation allowed us to continue to gain market share throughout the first half of the year."

" Our focus on delivering a best-in-class customer value proposition and forging strong customer partnerships meant that we outpaced the construction market. As a result of our accelerating leadership in strategically important growth segments such as infrastructure and data centers, we expect to continue outperforming the industry. More and more customers are relying on Sika for their most critical projects because of our expertise and innovative solutions. We continuously innovate to develop and offer industry-leading products, and we partner with customers to deliver the best solutions. Our customer focus allows us to protect our leading margins."

" The Fast Forward program further strengthens our competitive position and our profitability. We will accelerate innovation, channel investments, digitalization, and strengthen our customer focus while delivering CHF 80 million in cost savings this year. I am extremely proud of the outstanding results of our Global Employee Survey. The engagement score of 88 index points reflects the exceptional motivation and commitment of our employees worldwide. In the first half of the year, our teams once again contributed to our strong results through their dedication and customer focus. Their engagement is the driving force behind Sika’s success."

" Our year started strongly against a muted market and geopolitical uncertainty. Our continued share gains across our markets enable us to raise our revenue growth guidance from 1–4% to 3–6% in local currencies. We are comfortable with current consensus CHF EBITDA expectations." Thomas Hasler, CEO

Way Forward

Following a strong first-half performance, Sika has raised its 2026 sales growth outlook to 3%–6% in local currencies. Despite expecting global market conditions to remain subdued, the company continues to forecast an EBITDA margin of 19.0%–19.5% for the full year and remains confident in meeting current market consensus for EBITDA.

Sika stated that its Fast Forward programme is enhancing productivity, accelerating innovation, and advancing digitalisation across the value chain, reinforcing its market leadership while delivering measurable improvements in revenue and profitability. The company also reaffirmed its Strategy 2028 medium-term targets for sustainable and profitable growth.

Source: Sika