Sika (SIKA) Q2 2026 earnings summary

Executive summary

• Achieved CHF 5.59 billion in sales for H1 2026, with 4.0% local currency growth and organic growth of 2.9%, despite muted market conditions and currency headwinds.

• Material margin improved by 60 basis points to 55.7% year-over-year.

• EBITDA reached CHF 1,063 million (19.0% margin), with net profit at CHF 552.1 million and EPS at CHF 3.43.

• Outperformance attributed to differentiation, customer trust, Fast Forward efficiency program, and strategic investments in automation, digitalization, and acquisitions.

• Gained market share in all regions, driven by innovation, digital transformation, and expansion in infrastructure and data centers.

Financial highlights

• Net sales: CHF 5,589.8 million, down 1.5% in CHF but up 4.0% in local currencies year-over-year.

• Organic growth of 2.9% in H1, with acquisitions contributing an additional 1.1%.

• Gross/material margin: 55.7% (up 60 bps from H1 2025).

• EBITDA: CHF 1,063 million (19.0% margin, up 10 bps year-over-year).

• Net profit: CHF 552.1 million (9.9% of sales); operating free cash flow: CHF 139.6 million.

Outlook and guidance

• Full-year 2026 local currency sales growth guidance raised to 3–6% (previously 1–4%).

• EBITDA margin guidance set at 19.0–19.5% for 2026.

• Medium-term strategic targets for sustainable, profitable growth confirmed; expect continued muted market conditions and less FX headwind in H2.

• Fast Forward program expected to deliver CHF 80 million in savings in 2026, with CHF 150–200 million annual savings by 2028.