Sika Ag · SIX:SIKA
Sika — H1 2026 Earnings Presentation
40 slides from Sika's earnings presentation, Jul 28, 2026
Slide 1: Sika Half-Year 2026: Strong Execution, Growth Guidance Raised
SIKA HALF-YEAR 2026 STRONG EXECUTION, GROWTH GUIDANCE RAISED Sika Half-Year Presentation July 28, 2026
Slide 2: Agenda
1. Highlights Half-Year 2026 2. Financial Performance 3. Strategy Execution 4. Business Implementation 5. Outlook
Slide 3: 1. Highlights Half-Year 2026
1. Highlights Half-Year 2026
Slide 4: Half-Year 2026 Highlights
HALF-YEAR 2026 HIGHLIGHTS 4 LC GROWTH ACCELERATES TO 4.0%, FY GUIDANCE RAISED Reported sales of Local currency growth of Fast Forward Program CHF 5.59 4.0% on track billion Material margin up 60 bps EBITDA > CHF 1 bn, margin Full-year 2026 year-on-year to up 10 bps year-on-year growth guidance 55.7%
Slide 5: Global Growth of 4.0% in Local Currencies
GLOBAL GROWTH OF 4.0% IN LOCAL CURRENCIES 5 REGION EMEA WITH LOCAL CURRENCY GROWTH OF +7.7% +2.9 % +7.7% -2.0% +4.0% 1.90 2.63 1.06 5.59 Americas EMEA Asia/Pacific GROUP -0.2 organic growth +1.1% acquisition effect HY1 2025 HY1 2026 (in CHF billion, growth in LC) -7.9% currency impact
Slide 6: Sika Is Consistently Gaining Market Share
SIKA IS CONSISTENTLY GAINING MARKET SHARE ACCELERATING SHARE GAINS IN 2026 Sika vs. Peers, Organic Growth Sika excl. China Construction vs. Peers Avg. outperformance: +2.2% per year Avg. outperformance: +2.8% per year 3.0% 3.0% 1.8% 2.0% 1.2% 1.1% 2.0% 1.2% 1.0% 1.0% 1.0% 0.1% -0.4% -0.2% 0.0% -0.9%
Slide 7: Actions to Accelerate Profitable Growth in 2026: Plants and Network
ACTIONS TO ACCELERATE PROFITABLE GROWTH IN 2026 7 DEMAND-DRIVEN INVESTMENTS IN PLANTS AND NETWORK New national subsidiary in New plant in New Jersey, USA New plant in Belgium Kyrgyzstan Large-scale mortar production Plant and technical center Expanding Sika’s global plant for concrete admixtures net
Slide 8: Bolt-on Acquisitions – Closing of Finja, Signing of Akkim
ACTIONS TO ACCELERATE PROFITABLE GROWTH IN 2026 8 BOLT-ON ACQUISITIONS – CLOSING OF FINJA, SIGNING OF AKKIM Finja: Leading Swedish Akkim: Leading producer of a wide manufacturer of range of mortars and adhesives and sealants integrated solutions. based in Turkey. Expected to close in Q3. CHF 62 mill
Slide 9: Sika Solutions in Every Football World Cup Stadium
FULL RANGE FOR HIGH-REQUIREMENT PROJECTS 9 SIKA SOLUTIONS IN EVERY FOOTBALL WORLD CUP STADIUM Sika is the trusted partner for the world’s most iconic stadiums, with solutions used in ALL 16 World cup Roofing solutions 2026 stadiums. Sika is currently highly Concrete admixtures active in Portugal, Mo
Slide 10: Achieves Record Employee Engagement Score
ACHIEVES RECORD EMPLOYEE ENGAGEMENT SCORE 10 SURPASSING STRATEGIC TARGET AND PRIOR RESULTS RECORD ENGAGEMENT SCORE 88 Fueled by strong purpose and confidence in ENGAGEMENT SCORE management and the future success of Sika HIGH PARTICIPATION RATE Improvement versus 2024 and 88% significantly surpassing
Slide 11: 2. Financial Performance
2. Financial Performance
Slide 12: Net Sales Bridge Half-Year 2026
NET SALES BRIDGE HALF-YEAR 2026 12 SALES GROWTH OF 4.0% IN LOCAL CURRENCY In CHF mn OPERATIONAL FX +5.5% -1.5% 5,986.4 -5.5% +64.3 -81.9 5,904.5 +245.8 -314.7 5,676.4 -1.5% 5,589.8 H1 2025 (reported) Organic excl. China Acquisitions H1 2026 adj. in China Construction H1 2026 adj. in LC FX Impact H1
Slide 13: Local Currency Growth Rebounds in First Half 2026
LOCAL CURRENCY GROWTH REBOUNDS IN FIRST HALF 2026 13 ORGANIC GROWTH OF 2.9% 4.0% 1.1% 2.6% 0.9% 1.6% in LC -0.5% 2.9% 1.0% acquisition 1.7% 1.0% organic 0.6% -1.5% H2 2024 H1 2025 H2 2025 H1 2026 in CHF mn Sales 5,928.3 5,676.4 5,524.9 5,589.8
Slide 14: Solid Half-Year Performance
SOLID HALF-YEAR PERFORMANCE 14 MARGINS UP YEAR-ON-YEAR in CHF mn H1 2025 NS H1 2026 NS Growth Net sales 5,676.4 100% 5,589.8 100% -1.5% Gross result 3,129.1 55.1% 3,115.3 55.7% -0.4% Personnel expenses -1,099.5 -19.3% -1,067.0 -19.1% -3.0% Other OPEX -959.2 -16.9% -985.3 -17.6% 2.7% EBITDA 1,070.4 1
Slide 15: EBITDA Margin Increases to 19.0%
EBITDA MARGIN INCREASES TO 19.0% 15 PRODUCTIVITY BENEFITS OFFSET COST INCREASES In CHF mn +0.2% -0.1% 19.2% +0.6% -0.2% 19.0% 18.9% -0.9% +0.5% Transportation cost EBITDA H1 25 Material Margin Non-Mat Cost Fast Forward M&A Synergies Dilution from EBITDA H1 26 FX Impact EBITDA H1 26 (reported) Increa
Slide 16: Half-Year 2026 Operating Free Cash Flow
HALF-YEAR 2026 OPERATING FREE CASH FLOW 16 RESILIENT OPERATING FREE CASH FLOW IN LINE WITH PRIOR YEAR In CHF mn +267 735 -450 -224 329 -189 140 Net Profit Depr./Amort. Change NWC Tax / other CF operating CapEx OFCF before tax activities H1 2025 H1 2026
Slide 17: 3. Strategy Execution
3. Strategy Execution
Slide 18: Sika Is Standing on a Strong Foundation
SIKA IS STANDING ON A STRONG FOUNDATION 18 OUTGROWING MARKETS – DRIVING MARGINS Sika is the leader in an attractive, fragmented market Winning share and leading through innovation Near-term cyclical headwinds are dampening construction market activity Accelerating efficiency programs and investing i
Slide 19: Strategy 2028
STRATEGY 2028 19 GAIN SHARE AND OUTGROW THE MARKET, PROFITABILITY *Sika’s growth above market, including bolt-on acquisitions **Once MBCC synergies materialized
Slide 20: Attractive Fragmented Market
ATTRACTIVE FRAGMENTED MARKET 20 GLOBAL LEADER IN A CHF 100 BN INDUSTRY Sika Market Share 12% Sika Target Markets 2x size of closest peer Value-add product focus Concrete Waterproofing Roofing Building Finishing 12% ~15% of total sales ~10% of total sales ~15% of total sales ~20% of total sales Floor
Slide 21: Balanced Business Mix
BALANCED BUSINESS MIX 21 DIVERSIFIED EXPOSURE SUPPORTS RESILIENCE SALES SALES 20% 30% 45% 55% RESIDENTIAL INFRASTRUCTURE New Build Refurbishment SALES SALES 35% 15% 41% 59% AUTOMOTIVE & Emerging Markets Mature Markets COMMERCIAL INDUSTRY
Slide 22: Market Penetration
MARKET PENETRATION 22 GROWTH VECTORS TO INCREASE MARKET SHARE Innovation leader Key geographies Go where the money is Multi-channel approach Cross- selling Leveraging strong position
Slide 23: Innovation Is Our Sustainable Advantage
INNOVATION IS OUR SUSTAINABLE ADVANTAGE 23 R&D DRIVES DIFFERENTIATION, MARKET SHARE, MARGIN WE INVEST WE CREATE WE DELIVER CHF 280 mn 234 23-25% of sales annual R&D investment new inventions in 2025 alone from products younger than 5 years 1,800+ R&D specialists 5,500+ patents held +3-5 pp material
Slide 24: SikaProof A+ Waterproofing Membrane System
SIKAPROOF A+ WATERPROOFING MEMBRANE SYSTEM 24 PATENTED INNOVATION GROWING >25% ANNUALLY SikaProof® A+: The only patented, fully bonded pre- and post- The world’s largest airport applied waterproofing membrane system. For basement and Al Maktoum International Airport, Dubai concrete protection. ▪ App
Slide 25: Patented Value-Add Innovations for Data Centers
PATENTED VALUE-ADD INNOVATIONS FOR DATA CENTERS 25 THE WORLD’S FASTEST-GROWING INFRASTRUCTURE Self-healing membranes for flat roofs ▪ Self-healing properties prevent water damage to high-value assets ▪ Ensure long-term protection and reduce need for repair Sika fibers for reinforced concrete ▪ Elimi
Slide 26: Value Creation Through M&A
VALUE CREATION THROUGH M&A 26 M&A CONTRIBUTING TO GROWTH AND PROFITABILITY Pre-synergy multiple (EBITDA) ▪ Strong track record of accretive acquisitions, unlocking substantial post-synergy value Post-synergy multiple (EBITDA) ▪ Historic post-synergy acquisition multiples 4 turns improvement prove ef
Slide 27: Successful MBCC Integration
SUCCESSFUL MBCC INTEGRATION 27 DRIVING SIGNIFICANT PROFITABILITY IMPROVEMENT >20.0% 25% Revenue synergies ▪ SG&A ▪ Operations/ 75% Footprint Cost ⁓15.0% synergies ▪ Procurement CHF 182 mn synergies MBCC pre-acquisition EBITDA MBCC 2025 EBITDA* *pro forma
Slide 28: Fast Forward on Track to Deliver Benefits in 2026
FAST FORWARD 28 ON TRACK TO DELIVER CHF 80 MILLION IN BENEFITS IN 2026 One-off costs Investments CHF 108 million* CHF 120 – 150 million Benefits < 2-yr payback CHF 150 – 200 million Up to 100% ROI (CHF 80 million in 2026) + share gains *All one-off costs accounted for in 2025. CHF 86.2 million recog
Slide 29: Fast Forward Investment to Drive Share Gains
FAST FORWARD INVESTMENT TO DRIVE SHARE GAINS 29 LEANER COST STRUCTURE, DIGITAL LEADERSHIP One-off Costs (CHF mn) Investments (CHF mn) 2026 40% 2027 35% 2025 100% 2028 25% Total costs 108 million* Total investments 120-150 million Expected Benefits (CHF mn) Expected Benefits (CHF mn) 2026 15% 2026 65
Slide 30: Capital Allocation Policy
CAPITAL ALLOCATION POLICY 30 PRIORITY ON HIGH, LONG-TERM VALUE CREATION 1 Invest in ▪ Capital Expenditures ▪ Organic investment in footprint expansion, capacity, and efficiency ▪ Bolt-on acquisitions create additional the Business ▪ Bolt-on Acquisitions growth platforms and attractive equity returns
Slide 31: 4. Business Implementation
4. Business Implementation
Slide 32: Powering the AI Era: Sika's Data Center Advantage
BUSINESS IMPLEMENTATION 32 POWERING THE AI ERA: SIKA’S DATA CENTER ADVANTAGE Demand for data center Roofing capacity is projected to Solar roof quadruple by 2030, with an solutions estimated global investment Flooring of CHF 880 billion by 2028. Solutions for precast concrete Joint sealing Sika solu
Slide 33: From Urban Growth to Underground Solutions
BUSINESS IMPLEMENTATION 33 FROM URBAN GROWTH TO UNDERGROUND SOLUTIONS Underground rail lines have become priorities to improve quality of life and sustainability in cities. Rail infrastructure projects expected to reach a value of CHF 2.0 trillion over the next four years. Sika supports global proje
Slide 34: Shaping the Ports of the Future
BUSINESS IMPLEMENTATION 34 SHAPING THE PORTS OF THE FUTURE Deep seaport under development on Vietnam’s north coast near Hai Phong Over 80% of all goods traded worldwide travel by sea; global maritime trade will double by 2050. More than CHF 400 billion in port construction projects under way or plan
Slide 35: Ellinikon – Building Europe's Green City of the Future
BUSINESS IMPLEMENTATION 35 ELLINIKON – BUILDING EUROPE’S GREEN CITY OF THE FUTURE The Ellinikon mega project, the most ambitious urban Sika is supplying the full range of innovative regeneration project in Europe construction solutions for The Ellinikon, transforming the former Athens airport into a
Slide 36: Enabling One of the World's Largest Dam Structures
BUSINESS IMPLEMENTATION 36 ENABLING ONE OF THE WORLD’S LARGEST DAM STRUCTURES The Diamer-Basha Dam, one of the world’s largest Sika is supplying advanced concrete hydropower infrastructure projects technologies for the Diamer Basha Dam, the world's largest roller-compacted concrete (RCC) dam, design
Slide 37: Rollout of Our Successful Retail Model
BUSINESS IMPLEMENTATION 37 ROLLOUT OF OUR SUCCESSFUL RETAIL MODEL POS in Asia/Pacific, excl. China Retail net sales growth, excl. China 350’000 300’000 +13% >15% CAGR 2023-2025 expected 250’000 CAGR 2025-2028 200’000 150’000 ▪ Digitalized end-to-end processes 100’000 ▪ Customer loyalty ▪ Service lev
Slide 38: 5. Outlook
5. Outlook
Slide 39: Outlook 2026
OUTLOOK 2026 RAISING LOCAL CURRENCY SALES GROWTH GUIDANCE Sales growth in local currencies of EBITDA margin of 3% to 6% 19.0% to 19.5% Up from 1% to 4% Sika is comfortable with current consensus CHF EBITDA expectations* 2028 medium-term strategic targets for sustainable, profitable growth confirmed
Slide 40: Thank You
THANK YOU.