Earnings release
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MEDIA RELEASE DATE PAGES SIKA AG October 24, 2025 1 / 7 Zugerstrasse 50 6340 Baar, Switzerland www.sika.com CONTACT TELEPHONE E-MAIL Dominik Slappnig Corporate Communications and Investor Relations +41 58 436 68 21 slappnig.dominik@ch.sika.com Ad Hoc announcement pursuant to Article 53 of the Listing Rules of the SIX Exchange Regulation RESILIENT PERFORMANCE IN FIRST NINE MONTHS – STRATEGIC ACTIONS TO DRIVE GROWTH AND PROFITABILITY • Sales increase of 1.1% in local currencies in the first nine months despite a double-digit decline in China’s construction business; foreign currency impact of -4.9% primarily due to weaker US dollar • Material margin increases to 55.0% (previous year: 54.7%) and EBITDA margin rises to 19.2% (previous year: 19.1%) • Key investments reinforce the Group’s market position: five acquisitions and seven new factories • MBCC integration completed, realization of increased synergies on track • Sika is making structural adjustments in ongoing weak markets, such as China, with anticipated one-off costs of CHF 80 to 100 million, incurring in 2025. The measures include a workforce reduction of up to 1,500 employees • These adjustments are part of an investment and efficiency program, “Fast Forward”, which builds on Sika’s leadership position, enhances customer value, improves operational excellence through digital acceleration and thus drives growth and profitability • The program also includes investments of CHF 120 to 150 million and will drive overall annual savings of CHF 150 to 200 million • Outlook for 2025: Sika confirms expectations of modest increase in local currency sales; EBITDA margin of approximately 19% after one-off costs • Medium-term guidance: Sika confirms profitability and cash-flow expectations with 20%+ EBITDA margin targeted as of 2026; new growth guidance of 3-6% in local currencies reflects revised market growth assumption • Details of investment and efficiency program to be presented at an investor and media conference on November 27, 2025
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MEDIA RELEASE DATE PAGES October 24, 2025 2 / 7 SIKA AG Zugerstrasse 50 ∙ 6340 Baar ∙ Switzerland Phone: +41 58 436 68 00 · www.sika.com Sika continued to outgrow the market in the first nine months of 2025. The company increased its sales in local currencies by 1.1% despite the challenging construction markets in China. Excluding the Chinese construction business, Group growth in local currencies was at around 3%. The foreign currency effect amounted to -4.9% primarily due to the weak US dollar, with Sika’s sales in Swiss francs declining to CHF 8.58 billion (previous year: CHF 8.91 billion) as a result. The material margin rose to 55.0% (previous year: 54.7%). EBITDA margin expanded to 19.2% (previous year: 19.1%), driven by slightly falling input costs, strong synergy momentum from the successfully completed MBCC integration, and despite an approximately 50 bps impact due to declining volumes in the Chinese market. At CHF 1.64 billion, operating profit before depreciation and amortization (EBITDA) in the first nine months was lower than in the previous year (CHF 1.70 billion) due to substantial foreign currency effects. Thomas Hasler, CEO: "Even in a market environment with strong headwinds, we have continued to grow our business in the first nine months of the year and gained market share, a testament to the strength and resilience of our teams worldwide. We are proactively addressing ongoing weak markets through our structural adjustments. In China, our strong presence and commitment to innovation will allow us to fully capitalize on the country’s long-term opportunities driven by a maturing construction market, a leading e-mobility industry, and a growing addressable market. The Fast Forward investment and efficiency program will accelerate our digital transformation and create additional value for our customers." GROWTH IN REGIONS EMEA AND AMERICAS – FURTHER MARKET SHARE GAINS With five acquisitions and seven newly opened factories in the first nine months of the year, Sika made targeted investments to strengthen its global market position and increase market penetration. Even in a challenging economic environment, Sika gained further market share. With sales growth of 2.1% in local currencies (previous year: 9.0%), construction markets in EMEA (Europe, Middle East, Africa) – the largest and most heterogeneous region – showed a slight recovery in the reporting period. Business performance was particularly strong in countries in the Middle East and Africa, where Sika recorded double-digit growth and market share gains. The first signs of a market recovery are also evident in Eastern Europe. In Germany, Sika is well positioned to benefit from the government’s recently approved infrastructure package.
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MEDIA RELEASE DATE PAGES October 24, 2025 3 / 7 SIKA AG Zugerstrasse 50 ∙ 6340 Baar ∙ Switzerland Phone: +41 58 436 68 00 · www.sika.com Sales in the Americas region rose by 2.9% in local currencies (previous year: 12.2%). While the business year got off to a strong start, US trade policy measures triggered some uncertainty in the market and slowed down momentum. Growth subsequently softened in the USA and Mexico, whereas performance remained solid in Latin America overall. In the US construction market, a positive development is being seen in investments in data centers as well as government-sponsored infrastructure projects. Sika manufactures nearly 100% of its products and solutions sold in the USA within the country. With its local presence and leading position in the renovation segment, Sika succeeded in outperforming the overall market in a challenging environment. In the Asia/Pacific region, sales declined by -3.9% in local currencies in the first nine months of the year (previous year: 4.7%). This result is mainly due to the deflationary market environment in China’s construction sector, where Sika’s focus is on protecting margins and improving efficiency. Without the double-digit sales decline of the Chinese construction business, the region would have recorded around 4% growth in local currency. Market development was particularly dynamic in India and Southeast Asia as well as in the Automotive & Industry segment, where Sika was able to further expand the share of its technologies in vehicles from local and international manufacturers. COMMITMENT TO MARKET LEADERSHIP IN CHINA Sika remains convinced that its unique presence and commitment to innovation will allow to fully capitalize on China’s long-term opportunities driven by a maturing construction market, a leading e-mobility industry, and a growing addressable market. Sika will build on its core strengths in China, which include digital excellence, EV and battery expertise, and best-in-class end-to-end processes throughout the value chain. In Automotive & Industry, Sika continues to expand the share of its technologies in vehicles from both local Chinese as well as international manufacturers. Market demand remains strong with electrification in full conversion mode. Chinese automotive OEMs have become key players in the automotive industry over the last decade. Sika is well positioned to work with them in China and to support their expansion into other geographies.
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MEDIA RELEASE DATE PAGES October 24, 2025 4 / 7 SIKA AG Zugerstrasse 50 ∙ 6340 Baar ∙ Switzerland Phone: +41 58 436 68 00 · www.sika.com In the construction industry, Sika holds a strong position among Chinese main contractors who are expanding into Southeast Asia and beyond. The residential retail-driven business in China is facing deflationary impacts, which Sika is addressing by adapting the product mix, rightsizing the organization, and making further efficiency improvements. STRATEGIC ACTIONS TO DRIVE GROWTH AND PROFITABILITY Sika is making structural adjustments in ongoing weak markets, such as China, with anticipated one-off costs of CHF 80 to 100 million, incurring in 2025. The structural measures include a workforce reduction of up to 1,500 employees. These adjustments are part of an investment and efficiency program, “Fast Forward”, which builds on Sika’s leadership position as a global, integrated construction chemicals company. It is designed to accelerate innovation and growth as well as enhance customer value and improve operational excellence through digital acceleration. The program also includes investments of CHF 120 to 150 million and will drive overall annual savings of CHF 150 to 200 million. The full impact is expected in 2028. OUTLOOK FOR 2025 AND MEDIUM-TERM TARGETS For 2025, Sika expects a modest increase in local currency sales, despite an overall shrinking market and challenging market conditions in China. The EBITDA margin is expected to be approximately 19% after one-off costs. Excluding these costs, Sika expects an EBITDA margin of between 19.5% and 19.8%. For the medium-term, Sika is confirming its Strategy 2028 target of an EBITDA margin of 20-23%. Sika is rebasing its growth guidance to 3-6% in local currencies, reflecting a revised market growth assumption over the remaining three years of the strategy period.
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MEDIA RELEASE DATE PAGES October 24, 2025 5 / 7 SIKA AG Zugerstrasse 50 ∙ 6340 Baar ∙ Switzerland Phone: +41 58 436 68 00 · www.sika.com KEY FIGURES FOR THE FIRST NINE MONTHS OF 2025 in CHF million 1/1/2024 – 9/30/2024 1/1/2025 – 9/30/2025 Change in % Net sales 8,914.9 8,578.1 -3.8% Gross result 4,876.9 4,714.7 -3.3% Operating profit before depreciation (EBITDA) 1,701.7 1,644.7 -3.3% Operating profit (EBIT) 1,294.7 1,237.9 -4.4% Net profit 922.6 870.9 -5.6% NET SALES BY REGION in CHF million 1/1/2024 – 9/30/2024 1/1/2025 – 9/30/2025 Change compared to previous year (+/- in %) In Swiss francs In local currencies1 Currency effect Acquisition effect2 Organic growth3 By region EMEA 3,880.0 3,834.0 -1.2% 2.1% -3.3% 0.6% 1.5% Americas 3,125.3 2,996.6 -4.1% 2.9% -7.0% 2.1% 0.8% Asia/Pacific 1,909.6 1,747.5 -8.5% -3.9% -4.6% 0.4% -4.3% Net sales 8,914.9 8,578.1 -3.8% 1.1% -4.9% 1.1% 0.0% Products for construction industry 7,618.2 7,321.5 -3.9% 1.2% -5.1% 1.3% -0.1% Products for industrial manufacturing 1,296.7 1,256.6 -3.1% 1.1% -4.2% 0.0% 1.1% 1 Growth in local currencies including acquisitions. 2 Share of sales of acquired companies. 3 Growth adjusted for acquisition and currency effect.
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MEDIA RELEASE DATE PAGES October 24, 2025 6 / 7 SIKA AG Zugerstrasse 50 ∙ 6340 Baar ∙ Switzerland Phone: +41 58 436 68 00 · www.sika.com Webcast on October 24, 2025, at 3:00 p.m. (CEST) A webcast will take place today focusing on the results for the first nine months of the year. Please log in five minutes prior to the start of the event. www.sika.com/9months-webcast This link will allow you to participate in the webcast with CEO Thomas Hasler, CFO Adrian Widmer, Dominik Slappnig (Head of Corporate Communications & IR), and Christine Kukan (Head of Investor Relations). You will also be able to find a recording of the webcast in the “Investors” section of the Sika website. FINANCIAL CALENDAR Investor and media conference Thursday, November 27, 2025 Net sales 2025 Tuesday, January 13, 2026 Media conference / analyst presentation Friday, February 20, 2026 on full-year result 2025 58th Annual General Meeting Tuesday, March 24, 2026 Net sales first quarter 2026 Tuesday, April 14, 2026 Half-year report 2026 Tuesday, July 28, 2026 Results first nine months 2026 Friday, October 23, 2026 SIKA CORPORATE PROFILE Sika is a specialty chemicals company with a globally leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protection in the building sector and industry. Sika has subsidiaries in 102 countries around the world, produces in over 400 factories, and develops innovative technologies for customers worldwide. In doing so, it plays a crucial role in enabling the transformation of the construction and transportation industries toward greater environmental compatibility. In 2024, Sika’s more than 34,000 employees generated annual sales of CHF 11.76 billion.
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MEDIA RELEASE DATE PAGES October 24, 2025 7 / 7 SIKA AG Zugerstrasse 50 ∙ 6340 Baar ∙ Switzerland Phone: +41 58 436 68 00 · www.sika.com
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2025 STAKEHOLDER LETTER NINE MONTHS WWW.SIKA.COM
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2 LETTER TO STAKEHOLDERS Resilient performance in first nine months – strategic actions to drive growth and profitability • Sales increase of 1.1% in local currencies in the first nine months despite a double-digit decline in China’s construction business; foreign currency impact of -4.9% primarily due to weaker US dollar • Material margin increase to 55.0% (previous year: 54.7%) and EBITDA margin rises to 19.2% (previous year: 19.1%) • Key investments reinforce the Group’s market position: five acquisitions and seven new factories • MBCC integration completed, realization of increased synergies on track • Sika is making structural adjustments in ongoing weak markets, such as China, with anticipated one-off costs of CHF 80 to 100 million, incurring in 2025. The measures include a workforce reduction of up to 1,500 employees • These adjustments are part of an investment and efficiency program, “Fast Forward” , which builds on Sika’s leadership position, enhances customer value, improves operational excellence through digital acceleration and thus drives growth and profitability • The program also includes investments of CHF 120 to 150 million and will drive overall annual savings of CHF 150 to 200 million • Outlook for 2025: Sika confirms expectations of modest increase in local currency sales; EBITDA margin of approximately 19% after one-off costs • Medium-term guidance: Sika confirms profitability and cash-flow expectations with 20%+ EBITDA margin targeted as of 2026; new growth guidance of 3 – 6% in local currencies reflects revised market growth assumption • Details of investment and efficiency program to be presented at an investor and media conference on November 27 , 2025 Sika continued to outgrow the market in the first nine months of 2025. The company increased its sales in local currencies by 1.1% despite the challenging construction markets in China. Excluding the Chinese construction business, Group growth in local currencies was at around 3%. The foreign currency effect amounted to -4.9% primarily due to the weak US dollar, with Sika’s sales in Swiss francs declining to CHF 8.58 billion (previous year: CHF 8.91 billion) as a result. The material margin rose to 55.0% (previous year: 54.7%). EBITDA margin expanded to 19.2% (previous year: 19.1%), driven by slightly falling input costs, strong synergy momentum from the successfully completed MBCC integration, and despite an approximately 50 bps impact due to declining volumes in the Chinese market. At CHF 1.64 billion, operating profit before depreciation and amortization (EBITDA) in the first nine months was lower than in the previous year (CHF 1.70 billion) due to substantial foreign currency effects. Thomas Hasler, CEO: "Even in a market environment with strong headwinds, we have continued to grow our business in the first nine months of the year and gained market share, a testament to the strength and resilience of our teams worldwide. We are proactively addressing ongoing weak markets through our structural adjustments. In China, our strong presence and commitment to innovation will allow us to fully capitalize on the country’s long-term opportunities driven by a maturing construction market, a leading e-mobility industry, and a growing addressable market. The Fast Forward investment and efficiency program will accelerate our digital transformation and create additional value for our customers." LETTER TO STAKEHOLDERS CONSOLIDATED INCOME STATEMENT NET SALES BY REGION FINANCIAL CALENDAR
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3 GROWTH IN REGIONS EMEA AND AMERICAS – FURTHER MARKET SHARE GAINS With five acquisitions and seven newly opened factories in the first nine months of the year, Sika made targeted investments to strengthen its global market position and increase market penetration. Even in a challenging economic environment, Sika gained further market share. With sales growth of 2.1% in local currencies (previous year: 9.0%), construction markets in EMEA (Europe, Middle East, Africa) – the largest and most heterogeneous region – showed a slight recovery in the reporting period. Business performance was particularly strong in countries in the Middle East and Africa, where Sika recorded double-digit growth and market share gains. The first signs of a market recovery are also evident in Eastern Europe. In Germany, Sika is well positioned to benefit from the government’s recently approved infrastructure package. Sales in the Americas region rose by 2.9% in local currencies (previous year: 12.2%). While the business year got off to a strong start, US trade policy measures triggered some uncertainty in the market and slowed down momentum. Growth subsequently softened in the USA and Mexico, whereas performance remained solid in Latin America overall. In the US construction market, a positive development is being seen in investments in data centers as well as government-sponsored infrastructure projects. Sika manufactures nearly 100% of its products and solutions sold in the USA within the country. With its local presence and leading position in the renovation segment, Sika succeeded in outperforming the overall market in a challenging environment. In the Asia/Pacific region, sales declined by -3.9% in local currencies in the first nine months of the year (previous year: 4.7%). This result is mainly due to the deflationary market environment in China’s construction sector, where Sika’s focus is on protecting margins and improving efficiency. Without the double-digit sales decline of the Chinese construction business, the region would have recorded around 4% growth in local currency. Market development was particularly dynamic in India and Southeast Asia as well as in the Automotive & Industry segment, where Sika was able to further expand the share of its technologies in vehicles from local and international manufacturers. COMMITMENT TO MARKET LEADERSHIP IN CHINA Sika remains convinced that its unique presence and commitment to innovation will allow to fully capitalize on China’s long-term opportunities driven by a maturing construction market, a leading e-mobility industry, and a growing addressable market. Sika will build on its core strengths in China, which include digital excellence, EV and battery expertise, and best-in-class end-to-end processes throughout the value chain. In Automotive & Industry, Sika continues to expand the share of its technologies in vehicles from both local Chinese as well as international manufacturers. Market demand remains strong with electrification in full conversion mode. Chinese automotive OEMs have become key players in the automotive industry over the last decade. Sika is well positioned to work with them in China and to support their expansion into other geographies. In the construction industry, Sika holds a strong position among Chinese main contractors who are expanding into Southeast Asia and beyond. The residential retail-driven business in China is facing deflationary impacts, which Sika is addressing by adapting the product mix, rightsizing the organization, and making further efficiency improvements. STRATEGIC ACTIONS TO DRIVE GROWTH AND PROFITABILITY Sika is making structural adjustments in ongoing weak markets, such as China, with anticipated one-off costs of CHF 80 to 100 million, incurring in 2025. The structural measures include a workforce reduction of up to 1,500 employees. These adjustments are part of an investment and efficiency program, “Fast Forward” , which builds on Sika’s leadership position as a global, integrated construction chemicals company. It is designed to accelerate innovation and growth as well as enhance customer value and improve operational excellence through digital acceleration. The program also includes investments of CHF 120 to 150 million and will drive overall annual savings of CHF 150 to 200 million. The full impact is expected in 2028. OUTLOOK FOR 2025 AND MEDIUM-TERM TARGETS For 2025, Sika expects a modest increase in local currency sales, despite an overall shrinking market and challenging market conditions in China. The EBITDA margin is expected to be approximately 19% after one-off costs. Excluding these costs, Sika expects an EBITDA margin of between 19.5% and 19.8%. For the medium-term, Sika is confirming its Strategy 2028 target of an EBITDA margin of 20 – 23%. Sika is rebasing its growth guidance to 3 – 6% in local currencies, reflecting a revised market growth assumption over the remaining three years of the strategy period. LETTER TO STAKEHOLDERS CONSOLIDATED INCOME STATEMENT NET SALES BY REGION FINANCIAL CALENDAR
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4 CONSOLIDATED INCOME STATEMENT IN THE FIRST NINE MONTHS 2025 in CHF mn % 1/1/2024 – 9/30/2024 % 1/1/2025 – 9/30/2025 Change in % Net sales 100.0 8,914.9 100.0 8,578.1 –3.8 Material expenses –45.3 –4,038.0 –45.0 –3,863.4 Gross result 54.7 4,876.9 55.0 4,714.7 –3.3 Personnel expenses –18.2 –1,625.8 –18.9 –1,620.6 Other operating expenses –17.4 –1,549.4 –16.9 –1,449.4 Operating profit before depreciation (EBITDA) 19.1 1,701.7 19.2 1,644.7 –3.3 Depreciation and amortization expenses –4.6 –407.0 –4.7 –406.8 Operating profit (EBIT) 14.5 1,294.7 14.4 1,237.9 –4.4 Interest income 0.2 19.0 0.2 13.4 Interest expenses –1.6 –140.6 –1.4 –118.9 Other financial income 0.1 5.7 0.1 7.9 Other financial expenses and net result on foreign exchange 0.0 –2.8 0.0 –1.0 Profit before taxes 13.2 1,176.0 13.3 1,142.6 –2.8 Income taxes –2.9 –253.4 –3.1 –271.7 Net profit 10.3 922.6 10.2 870.9 –5.6 Profit attributable to Sika shareholders 10.3 921.2 10.1 869.9 Profit attributable to non-controlling interests 0.0 1.4 0.0 1.0 LETTER TO STAKEHOLDERS CONSOLIDATED INCOME STATEMENT NET SALES BY REGION FINANCIAL CALENDAR
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5 NET SALES BY REGION Change compared to prior period (+/– in %) in CHF mn 1/1/2024 – 9/30/2024 1/1/2025 – 9/30/2025 In Swiss francs In local currencies 1 Currency effect Acquisition effect 2 Organic growth 3 EMEA 3,880.0 3,834.0 –1.2 2.1 –3.3 0.6 1.5 Americas 3,125.3 2,996.6 –4.1 2.9 –7.0 2.1 0.8 Asia/Pacific 1,909.6 1,747.5 –8.5 –3.9 –4.6 0.4 –4.3 Net sales 8,914.9 8,578.1 –3.8 1.1 –4.9 1.1 0.0 Products for construction industry 7,618.2 7,321.5 –3.9 1.2 –5.1 1.3 –0.1 Products for industrial manufacturing 1,296.7 1,256.6 –3.1 1.1 –4.2 0.0 1.1 1 Growth in local currencies including acquisitions. 2 Share of sales of acquired companies. 3 Growth adjusted for acquisition and currency effect. LETTER TO STAKEHOLDERS CONSOLIDATED INCOME STATEMENT NET SALES BY REGION FINANCIAL CALENDAR
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6 FINANCIAL CALENDAR INVESTOR AND MEDIA CONFERENCE Thursday, November 27 , 2025 NET SALES 2025 Tuesday, January 13, 2026 MEDIA CONFERENCE / ANALYST PRESENTATION ON FULL -YEAR RESUL TS 2025 Friday, February 20, 2026 58TH ANNUAL GENERAL MEETING Tuesday, March 24, 2026 NET SALES FIRST QUARTER 2026 Tuesday, April 14, 2026 HALF-YEAR REPORT 2026 Tuesday, July 28, 2026 RESUL TS FIRST NINE MONTH Friday, October 23, 2026 LETTER TO STAKEHOLDERS CONSOLIDATED INCOME STATEMENT NET SALES BY REGION FINANCIAL CALENDAR
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Sika AG Zugerstrasse 50 6340 Baar Switzerland Contact Tel +41 58 436 68 00 www.sika.com Sika is a specialty chemicals company with a globally leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protection in the building sector and industry. Sika has subsidiaries in 102 countries around the world, produces in over 400 factories, and develops innovative technologies for customers worldwide. In doing so, it plays a crucial role in enabling the transformation of the construction and transportation industries toward greater environmental compatibility. In 2024, Sika’s more than 34,000 employees generated annual sales of CHF 11.76 billion. Sika’s purpose is to anticipate and meet future challenges by providing reliable, innovative, sustainable, and long-lasting solutions in the construction, building, and manufacturing industries. In everything we do, we provide a seal of quality which our employees, customers, and all stakeholders can rely on – Building Trust Every Day.