Sika reports 9-month sales growth of 4.8%, reiterates guidance; shares slip

Investing.com -- Sika posted nine-month sales of CHF 8.71 billion, representing growth of 4.8% in local currencies, with net profit of CHF 887.8 million meeting analyst expectations of CHF 888 million. Revenue increased 1.6% in Swiss francs compared to the same period last year, impacted by a negative foreign currency effect of 3.2%.

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The construction chemicals maker posted organic growth of 3.5% with an additional 1.3% contribution from acquisitions.

Sika shares slipped nearly 2% after the report.

"Sika's momentum continued through the third quarter, with 6.1% local currency growth and 4.8% for the first nine months of the year," said CEO Thomas Hasler. "This performance reflects continued market share gains in what remains a muted market environment."

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The company's EBITDA increased 1.9% to CHF 1.68 billion, maintaining an EBITDA margin of 19.2%, while material margin improved 40 basis points YoY to 55.4%. Diluted earnings per share reached CHF 5.52, up from CHF 5.42 in the prior year period.

"Although less punchy than 2Q26 results, 3Q26 nonetheless shows small beats," Jefferies analysts said. "Most investor focus was on volumes in the run-up to today as the company set expectations for slowing volumes. In this context, we expect the accelerating margin to draw focus in a quarter when volumes slowed and raw materials stepped up."

Regionally, EMEA delivered 8.3% local currency growth, while the Americas region grew 4.1%. The Asia/Pacific region declined 2.3% in local currencies, primarily due to weakness in China's residential construction market. Excluding the Chinese construction business, Asia/Pacific recorded 7.7% organic growth.

Sika reiterated its full-year 2026 guidance of local currency growth between 3% to 6% and an EBITDA margin of 19.0% to 19.5%.

The company said its Fast Forward program remains on track to deliver CHF 80 million in benefits for 2026 and CHF 150 million to CHF 200 million from 2028.

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