Sika stock keeps 2026 outlook after 4.8% nine-month growth

Sika reported resilient performance for the first nine months of 2026 in a company release dated Friday, October 23. Sales reached CHF 8.71 billion, while management reiterated its full-year targets despite a muted construction market and continuing weakness in Chinese residential construction. The release was published by Sika.

Regional Growth Supports Performance

Sales growth in local currencies was strongest in EMEA, where revenue increased 8.3% from a year earlier. The Americas delivered 4.1% growth, while Asia/Pacific declined 2.3% as weakness in Chinese construction continued. Excluding the Chinese construction business, Asia/Pacific posted organic growth of 7.7%.

Sika said heat waves in July and August temporarily reduced construction activity in parts of Central and Southern Europe, but conditions recovered in September. Infrastructure projects, data centers and energy infrastructure remained important areas of demand, supporting market-share gains in the company's core markets.

Margins and Savings Stay in Focus

The material margin improved to 55.4% from 55.0% a year earlier. EBITDA rose 1.9% to CHF 1.68 billion, with the margin holding at 19.2%. Net profit increased to CHF 887.8 million from CHF 870.9 million.

Management said the Fast Forward productivity program was on track to generate CHF 80 million of benefits in 2026. The program includes plant rationalization and operational improvements, while investments in digital solutions, product innovation and digital channels are intended to support longer-term growth. Sika is targeting total benefits of CHF 150 million to CHF 200 million from 2028.

Acquisitions Broaden Growth Platforms

Sika completed the acquisition of Akkim, a Turkey-based adhesives and sealants manufacturer, during the third quarter. The company said Akkim generated around CHF 220 million in sales in 2025 and expects to double its revenue within five years.

Sika also acquired the UK-based Azpects Group in October and agreed to acquire Resonac Corporation's adhesives business in Japan. The Resonac transaction is expected to close in mid-2027. These deals expand Sika's reach in adhesives, landscaping products and Asian industrial markets, but execution and integration remain relevant considerations for investors.

Outlook Remains Unchanged

Sika kept its 2026 guidance for local-currency sales growth of 3% to 6% and an EBITDA margin of 19.0% to 19.5%. The company also cited consensus EBITDA of CHF 2.16 billion as of July 28, 2026. The unchanged outlook places the focus on whether market-share gains, productivity measures and infrastructure demand can offset currency pressure and weaker Chinese construction.

Sika stock traded at 207.85 euros on Lang & Schwarz at 11:36 CET on Friday, November 13, 2026. The next scheduled reporting event is the full-year results presentation on Friday, February 19, 2027.

The broader Swiss market context is covered in current SMI market coverage.

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