Sika AG reported its full-year 2025 financial results on February 20, 2026, highlighting a sales increase of 0.6% in local currencies despite a challenging global construction market. While revenues grew in local terms, reported sales in Swiss francs fell by 4.8% to CHF 11.20 billion due to a significant negative currency impact of -5.4%, primarily from a weak US dollar. 

Sika's net profit dropped to CHF 1,045.3 million as compared to CHF 1,247.6 million in 2024. 

The company reported EBITDA margin at 18.4%. When adjusted for one-off costs related to the "Fast Forward" efficiency program, the margin was 19.2%. 

Meanwhile, operating free cash flow reached CHF 1,356.1 million, with a cash conversion rate improvement to 12.1% of sales. 

Thomas Hasler, CEO: “Sika’s focus on delivering high value-add solutions to our customers drove market share gains across all regions in what was a challenging year for the construction industry. Global markets were impacted by US tariff policy as well as residential real estate softness in China. In the fourth quarter, the US building industry was also affected by the government shutdown. We used this period to strengthen our competitive position and prepare for the next phase of industry growth - laying important foundations for further outperformance in the coming years. With Fast Forward we are creating a leaner, more agile organization, accelerating innovation, digitalization, and efficiency. Fast Forward will, in the coming years deliver CHF 150 to CHF 200 million of EBITDA benefit with a very attractive ROI.” 

“In 2025, we announced seven bolt-on acquisitions that will create significant value for our shareholders as we rapidly deliver on both the cost and revenue synergies targeted. We also undertook additional investments to expand manufacturing capacity adding efficient supply capabilities in faster growth regions. Through our investments, Sika has a clear roadmap to accelerate future growth, leaning further on our industry-leading product innovation to efficiently solve customer needs.” 

“We expect global market conditions in the construction industry to remain muted in 2026, with a continuation of the market trends seen in 2025. While the first half will be softer for the industry, we anticipate improving momentum as the year progresses – and remain confident in Sika's ability to outperform the market by 3% to 6% in local currencies.”

“I want to express my sincere gratitude to all our employees for their exceptional commitment over the past year. Their strong engagement and unwavering support for the many initiatives we pursued made a decisive difference for Sika.” 

Through its Fast Forward program, Sika is strengthening the organization for the future. The company is accelerating innovation and digital transformation and is building on its leading position across all markets. 

As part of the Fast Forward program, Sika implemented targeted structural adjustments in China and introduced efficiency-enhancing measures in other markets. Efforts are in full swing to optimize the production network and simplify organizational structures to increase efficiency. At the same time, Sika is investing in accelerating the digital transformation of its entire value chain. The investments will run for the duration of the program through to 2028. Sika expects this to generate annual savings of between CHF 150 and 200 million, with the full impact expected in 2028. Around CHF 80 million of these savings are expected to take effect in 2026.    

During the year, Sika advanced its ESG performance in line with leading global standards and company ambitions. Scope 1 and 2 GHG emissions decreased by -6.1%, while water discharge and waste disposed per ton sold declined by -3.4% and -5.7%, respectively, reflecting disciplined operational execution, tighter process control, and circularity initiatives. A strong safety culture led to reduction in lost time accidents of -14.1%. With products and solutions that reduce carbon footprint and extend lifecycle of buildings, Sika continues to expand its leading role as a technology partner for sustainable construction. 

OUTLOOK 

Sika is convinced that it can accelerate its growth strategy when the global construction environment improves through the investments made in innovation and digitalization. Sika affirms its medium-term strategic targets for sustainable, profitable growth under the Strategy 2028. 

In 2026, Sika expects global market conditions to remain muted, with a low single-digit percentage decline for the year as a whole. While the first half will be softer for the industry, the company anticipates improving momentum as the year progresses. 

For 2026, Sika expects sales growth of 1% to 4% in local currencies; in line with company ambition to outperform the market by 3% to 6% in local currencies including bolt-on acquisitions. Sika expects to deliver an EBITDA margin of 19.5% to 20.0% for the year.