Slides
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OUTPERFORMANCE IN A DECLINING MARKET – SIKA WITH MODERATE SALES GROWTH IN LOCAL CURRENCIES IN 2025 Sika Investor Presentation January 2026
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SIKA IS STANDING ON A STRONG FOUNDATION 2 OUTGROWING MARKETS – DRIVING MARGINS Sika is capturing value-accretive bolt-on M&A opportunities with attractive returns Accelerating efficiency programs and investing in digital leadership to drive share The near-term cycle has dampened 2025 results Growing share and leading through innovation Sika is the leader in an attractive, fragmented market
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LEADER OF ATTRACTIVE AND FRAGMENTED INDUSTRY
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GLOBAL LEADER IN A FRAGMENTED INDUSTRY COMPETITIVE LANDSCAPE Sika Market Share 12% 2x size of closest peer Sika Target Markets Value-add product focus Top 30 competitors (incl. Sika) account for 50% of market Building Finishing ~20% of total sales Industry ~15% of total sales Roofing ~15% of total sales Engineered Refurbishment ~10% of total sales Waterproofing ~10% of total sales Sealing & Bonding ~10% of total sales Concrete ~15% of total sales Flooring & Coating ~10% of total sales 4 12%
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INFRASTRUCTURE BALANCED BUSINESS MIX DIVERSIFIED EXPOSURE SUPPORTS RESILIENCE COMMERCIAL RESIDENTIAL AUTOMOTIVE & INDUSTRY 5 SALES 20% SALES 30% SALES 15% SALES 35% 55% 45% New Build Refurbishment 59% 41% Emerging Markets Mature Markets
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MARKET PENETRATION 6 GROWTH VECTORS TO INCREASE MARKET SHARE Leveraging strong position Cross- selling Multi-channel approach Go where the money is Key geographies Innovation Leader
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INNOVATION DRIVES SHARE GAINS AND MARGINS
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Local Innovation Global Scaling SIKA IS THE INDUSTRY INNOVATION POWERHOUSE 8 INNOVATION DRIVES MARKET SHARE AND MARGINS Extensive Reach: Over 100 local and regional R&D facilities in 90 locations, supported by 18 global technology centers across regions. 892 Inventions and 520 initial applications since 2021 in 5 core technologies. Agility and Responsiveness: Our R&D leadership enables Sika to quickly adapt to market needs, sustainability, and regulatory changes worldwide. Value Creation: Ability to leverage cross-regional, cross- technology synergies and rapidly deploy new solutions is key for customer value and market share gains. 23–25% of Sika sales generated by products younger than 5 years. These products typically deliver 3-5%-pts higher material margin
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STRONG INNOVATIONPOWER 9 EXAMPLES Sika Fibers for Reinforced Concrete Concrete Recycling Self -healing Membrane for Modern Flat Roofs ▪ Higher durability and longer lifecycle of concrete ▪ Best practice for reducing CO2 emissions* ▪ A total of 500 million m3 of fresh concrete discarded every year ▪ Innovative admixtures that simplify recycling ▪ Membrane automatically seals damages when exposed to water, ensuring long-term waterproofing ▪ Higher lifespan, longer lifecycle *Avoided Emissions Initiative led by the World Business Council for Sustainable Development (WBCSD)
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10 INVENTIONS AND PATENTS ACCELERATE OVER THE YEARS FIVE CORE TECHNOLOGY COMPETENCIES DRIVE INNOVATION - 100 200 300 2020 2021 2022 2023 2024 R&D spend driving an acceleration in new patents and product launches New Patents Filed New Inventions - 1’000 2’000 3’000 4’000 5’000 6’000 7’000 2020 2021 2022 2023 2024 Total Sika patents 15% 26% 20% 14% 25% Core Technology Competencies Concrete Systems Cementitious Systems Thermoplastics Systems Coating Systems Adhesive Systems
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OUTGROWING PEERS SIKA IS CONSISTENTLY GAINING MARKET SHARE 11 * the closest competitors from our Obermatt peer group Sika vs Peers, Organic Growth Avg. outperformance: +2.4% per year Sika excl. China Construction vs Peers Avg. outperformance: +2.8% per year 1.2% 1.1% 0.0% -3.1% -0.9% -0.9% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 2023 2024 9M 2025 Sika Peers 0.1% 1.8% 1.5% -3.1% -0.9% -0.9% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 2023 2024 9M 2025 Sika excl. China
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OUTGROWING PEERS GAINING MARKET SHARE WHILE DRIVING PROFITABILITY 12 * the closest competitors from our Obermatt peer group Sika vs Peers, EBITDA Growth (CHF) Avg. outperformance: +6.3% per year Sika excl. China Construction vs Peers, EBITDA Growth (CHF) Avg. outperformance: +8.8% per year 4.1% 11.0% -3.3% -5.9% 2.2% -3.3% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 2023 2024 9M 2025 Sika Peers 4.1% 14.3% 1.0% -5.9% 2.2% -3.3% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 2023 2024 9M 2025 Sika excl. China Peers
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SALES 2025
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GLOBAL GROWTH OF 0.6% IN LOCAL CURRENCIES 14 ACQUISITION EFFECT OF 1.0% +2.2% Americas +2.2% EMEA 3.88 5.03 -5.2% Asia/Pacific 2.30 FY 2024 (in CHF billion, growth in LC) FY 2025 +0.6% GROUP 11.20 -0.4 Organic Growth +1.0% Acquisition Effect -5.4% Currency Impact
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+0.13 +0.12 Organic excl. China Construction Acquisitions 2025 adj. in LC excl. China Construction -0.18 China Construction 2025 adj. in LC -0.63 FX Impact 2025 (reported) 11.76 12.01 11.83 11.20 2024 (reported) +2.1% FXOPERATIONAL -4.8% -5.4% 15 NET SALES GROWTH 2025 GROWTH IMPACTED BY CHINA CONSTRUCTION +0.6% (in CHF billion)
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EMEA Americas Asia/Pacific Growth in LC +2.2% +2.2% - 5.2% Organic growth +1.5% +0.4% -5.6% Acquisition +0.7% +1.8% +0.4% Currency impact - 3.5% - 7.6% - 5.5% 16 SALES GROWTH OF 0.6% IN LOCAL CURRENCIES MARKET SHARE GAINS IN ALL REGIONS 85% 15% Construction Automotive & Industry (in CHF billion) Organic Acquistion EMEA Americas Asia/Pacific
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17 NAVIGATING CHALLENGING MACRO CONDITIONS US GOVERNMENT SHUTDOWN AND WEAK CHINA IMPACTED Q4 ASIA / PACIFIC ▪ Residential weakness persisted amid lower consumer confidence ▪ Saw double-digit sales decline in Chinese construction business ▪ Excluding China: Positive growth; India, Southeast Asia, and Automotive recorded dynamic growth AMERICAS ▪ Following a strong start to the year, conditions softened in H2 ▪ Q4: Longest government shutdown in history impacted commercial construction activity ▪ Bright spots: Data center investment remained strong; Canada and Latin America comparatively robust EMEA ▪ Strong business performance in Middle East and Africa ▪ Sequential improvement in Eastern Europe and solid growth rates in parts of Southern Europe ▪ Mixed development with some positive indicators in rest of Europe
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FAST FORWARD INVESTMENT PROGRAM
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DIGITAL LEADERSHIP WILL DRIVE SHARE AND MARGIN GAINS BECOME THE DIGITAL LEADER IN THE INDUSTRY 19 INVESTMENT CHF 120- 150mn in digitalization OUTCOMES Grow market share more efficiently Accelerate competitive advantage Become digital leader in the industry 1 Enhance customer value Direct digital engagement, faster time-to-market 2 Supply chain excellence Automation, resilience, simplification 3 Accelerate innovation AI-powered product development
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FAST FORWARD 20 STRONGER AND FITTER FOR THE FUTURE One-time costs CHF ∼110 million* Investments CHF 120 – 150 million Benefits CHF 150 – 200 million (CHF 80 million in 2026) < 2yr payback Up to 100% ROI + share gains *around CHF 90 million EBITDA relevant
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21 CHF 80-110 MILLION OF SAVINGS TO BE ACHIEVED BY 2028 FAST FORWARD STRUCTURAL ADJUSTMENTS WITH STRONG ROI Supply chain footprint/ portfolio simplification ▪ Further optimize production and supply chain footprint ▪ Streamline capacity in selected markets ▪ Simplify product line coverage and selected application overlap Efficiency acceleration ▪ Streamline operational and functional staffing according to market prospects ▪ Functional alignment across the organization 2026 2027 80- 110 millionTotal benefit 65% 100% Organizational optimization Supply chain Expected Benefits (CHF mn) 2025 Total costs Organizational optimization Supply chain One-off Costs (CHF mn) ∼110 million* 35% *around CHF 90 million EBITDA relevant
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22 EXTENDING SIKA’S DIGITAL LEADERSHIP FAST FORWARD INVESTMENT TO DRIVE SHARE GAINS Expected Benefits (CHF mn) Customer value ▪ Creating benefits for all stakeholders ▪ Ease of doing business ▪ Accelerated time to market (Digital Lab) Supply chain and operational excellence Accelerators ▪ Digital factory – Scalable, automated shop- floor management ▪ End-to-end supply chain efficiency Foundations ▪ Accelerated ERP rollout, process harmonization, simplification and automation ▪ Sika Advanced Analytics – AI supported and data driven management 2026 2027 2028 70-90 millionTotal benefit 15% 35% 50% Digitalization SC & OPs excellence: Foundations Customer value SC & OPs excellence: Accelerators Investments (CHF mn) 2026 2027 2028 Total benefit SC & OPs excellence: Foundations Customer value SC & OPs excellence: Accelerators 120-150 million 40% 25% 35%
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INNOVATION POWERHOUSE – EXAMPLE: NUAGE 23 MACHINE LEARNING AS DEVELOPMENT CATALYST ▪ Nuage optimizes testing through advanced variable analysis ▪ Existing database of over 100,000 data points greatly reduces required tests ▪ Machine learning simulations further minimize need for physical testing ▪ Transformation from analog, formulation- oriented way of working to digital process along entire development journey ▪ Daily expansion of our database with new data points to enrich knowledge Machine learning allows reduction of experiments by 75% Time-to-market reduction >50%
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DRIVING SHAREHOLDER VALUE
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CAPITAL ALLOCATION POLICY 25 PRIORITY ON HIGH, LONG-TERM VALUE CREATION Invest in the Business ▪ Capital Expenditures ▪ Bolt-on Acquisitions 1 ▪ Organic investment in footprint expansion, capacity, and efficiency ▪ Bolt-on acquisitions create additional growth platforms and attractive equity returns Attractive Dividend ▪ Dividend Growth2 ▪ Progressive dividend policy Healthy Balance Sheet ▪ Strong Investment Grade Rating 3 ▪ Net Debt/EBITDA ratio of 1.3-2.3 ▪ Maintain strong cash flow and deleveraging profile ▪ Opportunistic share buybacks
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VALUE CREATION THROUGH M&A 26 M&A CONTRIBUTING TO GROWTH AND PROFITABILITY ▪Strong track-record of accretive acquisitions, unlocking substantial post-synergy value ▪Historic post-synergy acquisition multiples prove efficient synergy generation, boosting profitability, and successful capture of operational and revenue improvements ▪Driving superior capital returns *Multiples in third year post closing Pre-synergy Multiple (EBITDA) Post-synergy Multiple (EBITDA) 4x improvement on average* MULTIPLE IMPROVEMENT DRIVEN BY Accelerated Revenue (cross sell, channel expansion) EBITDA Growth (cost synergies)
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Acquisitions in Singapore, United Kingdom, North America, Denmark, Qatar, Saudi-Arabia and Sweden Investment and Joint Venture in Canada and Switzerland 27 PIPELINE OF ACCRETIVE BOLT-ON ACQUISITIONS IS STRONG SIKA WITH 7 ANNOUNCED ACQUISITIONS IN 2025 Sika and Sulzer: Joint venture to advance plastics recycling in the construction industry. Pilot projects to commence in Germany, Austria, and Switzerland Giatec Scientific Inc.: Global leader in digital concrete technology platforms specializing in smart testing and AI-driven solutions to optimize concrete quality, durability, and sustainability Elmich Pte Ltd: Innovative and sustainable green roof solutions HPS North America, Inc.: Building Finishing Materials and waterproofing solutions Cromar Building Products: Flat and pitched roofing products Gulf Additive Factory LLC: Including concrete admixtures, mortars, flooring, waterproofing Marlon Tørmørtel A/S: Strong portfolio of mortar products Awazil Al Khaleej Industrial Co. (“Gulf Seal”) Bituminous waterproofing membranes Finja Betong: Dry mortars and floor levelling compounds Closing expected in Q1 26
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28 DRIVING SIGNIFICANT PROFITABILITY IMPROVEMENT SUCCESSFUL MBCC INTEGRATION ⁓15.0% >20.0% MBCC current run rate EBITDA * Trailing 12-month synergies as per 9/25 MBCC pre-acquisition EBITDA CHF 166 mn synergies* 25% Revenue synergies 75% Cost synergies ▪ SG&A ▪ Operations/ Footprint ▪ Procurement
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OUTLOOK FOR 2025
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OUTLOOK FOR 2025 30 2025 BUSINESS YEAR 2025 EBITDA margin ▪2025 EBITDA margin expected to be slightly above 19%, excluding Fast Forward one-off costs ▪Outlook for 2026 will be presented at the full year results presentation February 20, 2026
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THANK YOU.
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FORWARD-LOOKING STATEMENT 32 This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘expects’, ‘believes’, ‘estimates’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. Various factors may cause actual results to differ materially in the future from those reflected in forward-looking statements contained in this presentation, among others: ▪ Fluctuations in currency exchange rates and general financial market conditions ▪ Interruptions in production ▪ Legislative and regulatory developments and economic conditions ▪ Delay or inability in obtaining regulatory approvals or bringing products to market ▪ Pricing and product initiatives of competitors ▪ Uncertainties in the discovery, development or marketing of new products or new uses of existing products, including without limitation negative results of research projects, unexpected side-effects of pipeline or marketed products ▪ Increased government pricing pressures ▪ Loss of inability to obtain adequate protection for intellectual property rights ▪ Litigation ▪ Loss of key executives or other employees ▪ Adverse publicity and news coverage Any statements regarding earnings per share growth are not a profit forecast and should not be interpreted to mean that Sika’s earnings or earnings per share for this year or any subsequent period will necessarily match or exceed the historical published earnings or earnings per share of Sika. For marketed products discussed in this presentation, please see information on our website: www.sika.com All mentioned trademarks are legally protected.