Sika 2025 Sales Fall Amid Market Share Gains

Sika’s sales in 2025 were CHF 11.20 billion (Swiss francs) – a -4.8% on the previous year.

The fall is partly attributable to a currency effect of -5.4% due to the weak US dollar. There was 0.6% growth in local currencies, despite ongoing challenges in the global construction market.

Organic growth was -0.4% for the full year (1.2% excluding Chinese construction businesses), with acquisitions contributing 1%.

CHF 11.20 billion

Thomas Hasler, Sika CEO, said: “Despite challenging macro conditions, we achieved modest growth in 2025 and further reinforced our market position.

“Global markets were soft in the fourth quarter, including US commercial construction trends, which were exacerbated by the government shutdown. Additionally, China saw continued market weakness in the residential building sector. However, our enhanced customer solutions allowed us to maintain pricing discipline and gain market share in every region.

“While we currently expect global market conditions to remain muted through the first half of 2026, we enter the year with a leaner cost structure and a clear investment roadmap to accelerate innovation and digitalization.”

Global Regions Performance

In Europe, the Middle East, and Africa (EMEA), performance was strongest in the Middle East and Africa, where Sika recorded 2.2% growth in local currencies (previous year: 7.3%). Parts of Southern Europe likewise recorded solid growth rates. Eastern Europe delivered sequential improvement throughout 2025.

In the Americas, sales increased by 2.2% in local currencies (previous year: 11.2%). Following a strong start to the year, conditions softened in the second half. In the fourth quarter, the longest government shutdown in history had a negative impact on commercial construction. In the USA, data centre investment remained a bright spot in 2025, while Canada and Latin America were comparatively robust.

In the Asia/Pacific region, sales declined by -5.2% in local currencies (previous year: 2.4%). The results were impacted by the double-digit decline in sales in the Chinese construction business. Excluding China, the region recorded positive growth of 2.9% in local currencies. In China Sika’s focus is on driving structural adjustments and protecting margins. By contrast, the markets in India and Southeast Asia – as well as the Automotive & Industry segment – recorded particularly dynamic growth.

Fast Forward Launch

Sika’s ‘Fast Forward’ program is accelerating innovation and digital transformation and targeted structural adjustments in China, as well as efficiency measures in other markets. The company is optimizing the production network and simplifying organizational structures to increase efficiency.

Sika acceleration of digital transformations across its value chain will run 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.

Outlook

Sika now expects full-year 2025 EBITDA margin of slightly above 19%, excluding around CHF 90 million in one-off costs related to the Fast Forward program. The updated margin expectation for 2025 reflects the impact of weaker markets on organic revenue growth in the fourth quarter.

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