Sika (SIKA) Q4 2025 TU earnings summary

Executive summary

• Full-year sales reached CHF 11.20 billion, with 0.6% growth in local currencies despite global market softness and a -4.8% decline in CHF due to currency effects.

• Organic growth was -0.4% for the year, but 1.2% when excluding Chinese construction businesses; acquisitions contributed 1.0%.

• Market share gains were achieved across all regions, supported by enhanced customer solutions and pricing discipline.

• The "Fast Forward" investment and efficiency program was launched, targeting significant cost savings and operational improvements.

Financial highlights

• Sales in CHF declined by -4.8% year-over-year, mainly due to a -5.4% foreign currency impact from a weak US dollar.

• EBITDA margin for 2025 is expected to be slightly above 19%, excluding one-off costs from the "Fast Forward" program.

Outlook and guidance

• Market conditions are expected to remain muted through the first half of 2026.

• Full-year 2025 EBITDA margin is projected slightly above 19%, excluding around CHF 90 million in one-off costs.

• The "Fast Forward" program is expected to deliver CHF 80 million in savings in 2026 and CHF 150–200 million annually by 2028.