High exchange rate effects Sika starts 2026 with a decline in sales
The construction chemicals and adhesives manufacturer Sika has made a subdued start to the current financial year. Very high exchange rate effects and weak construction markets have resulted in a decline in sales for the Central Swiss company. The forecasts are nevertheless confirmed.
14.04.2026, 06:47
14.04.2026, 07:54
SDA
Sales from January to March 2025 fell by a significant 7.0 percent year-on-year to CHF 2.49 billion. This is due in particular to the strong Swiss franc: As Sika announced on Tuesday, currency effects reduced sales by 7.9 percent.
In local currencies, Sika's sales therefore grew by 0.9 percent. Acquisitions, meanwhile, contributed 1.1 percent. In organic terms, the company therefore shrank by 0.2% at the beginning of the year. Since the third quarter of 2025, Sika has no longer been able to grow organically.
This development is strongly linked to weak demand in China. Adjusted for the construction business there, organic growth would have been 1.0 percent, Sika emphasized. And despite the subdued global construction market, Sika gained market share in all regions.
For the year as a whole, Sika continues to anticipate a subdued global market environment and a decline in the low single-digit percentage range. The first half of the year in particular will be weaker for the industry.
In this environment, Sika intends to increase sales in local currencies by an unchanged 1 to 4 percent. The EBITDA margin should rise to 19.5 to 20.0 percent. At the same time, Sika confirmed the medium-term targets of "Strategy 2028".
