Sika (SIKA) AGM 2025 summary

Opening remarks and agenda

• Warm welcome extended to shareholders, board members, employees, and alumni, with emphasis on tradition and safety protocols at the venue.

• AGM was duly convened with invitations and agenda items sent in accordance with legal and statutory requirements.

• The meeting was broadcast live, and shareholders could participate via proxy or online platform, though no questions were submitted online.

• Voting procedures and attendance figures were explained, with 908 shareholders present and over 99 million votes represented.

• The agenda included a review of 2024, outlook for 2025, statutory items, and a focus on Strategy 2028's first year of execution.

Financial performance review

• Record net sales of CHF 11.76 billion in 2024, up 7.4% in local currencies, with EBITDA margin rising to 19.3%.

• EBITDA grew 11% to CHF 2,269.5 million; net profit increased by 17.4% to CHF 1,247.6 million.

• Diluted EPS rose 16.7% to CHF 7.76; proposed dividend per share is CHF 3.60.

• Dividend payouts have grown 200% over the past decade.

• Regional sales growth: Americas up 11.2% (over CHF 4 billion), EMEA above CHF 5 billion (7.3% growth), and Asia Pacific at CHF 2.57 billion.

Strategic initiatives and plans

• Strategy 2028 targets: 6-9% annual sales growth, 20-23% EBITDA margin, >10% operating free cash flow, and 20-25% ROCE.

• Focus on market penetration, innovation, sustainability, and acquisitions.

• MBCC acquisition integrated successfully, contributing CHF 125 million in synergies and raising MBCC's EBITDA margin to near group levels.

• Three acquisitions completed in 2024, with further transactions in 2025, and new production sites opened in Peru, China, and Indonesia.

• Non-financial targets include employee engagement (86%), safety improvements, and over 10% reduction in greenhouse gas emissions in 2024.