Sika (SIKA) AGM 2026 summary

Opening remarks and agenda

• Warm welcome extended to shareholders, board members, management, and employees, with emphasis on safety and meeting logistics.

• Meeting invitation and agenda issued in compliance with legal requirements; all documents made available in advance.

• Shareholders could participate via proxy or online, with clear instructions for speaking and voting.

Financial performance review

• Share price in 2025 underperformed key indices, reflecting global construction market challenges and reduced growth targets.

• Revenue for 2025 reached CHF 11.2 billion, with a 0.6% gain in local currencies, outperforming a market that declined by 2.5%.

• EBITDA margin impacted by one-off Fast Forward program costs, but would have been 19.2%, the second highest in company history.

• Operational free cash flow at 12.1% of sales, exceeding targets for the third consecutive year.

• Net indebtedness declined by CHF 300 million, maintaining a strong investment-grade rating.

Strategic initiatives and plans

• Strategy 2028 focuses on market penetration, innovation and sustainability, acquisitions, and culture.

• Medium-term goals: 3%-6% annual growth above market, 20%-23% EBITDA margin, and over 10% operating free cash flow.

• Fast Forward program launched to drive efficiency, digitalization, and cost savings of CHF 80 million in 2026.

• Seven acquisitions completed in 2025, including MBCC, with integration nearly complete and synergies exceeding expectations.

• Expansion in emerging markets with new plants and targeted acquisitions in Scandinavia, Turkey, and the Middle East.

• Continued focus on innovation, with CHF 280 million invested in R&D and nearly a quarter of products less than five years old.