Sika Reports 3.8% Sales Drop, Plans Up to 1,500 Job Cuts in Structural Reform

Swiss construction chemicals company Sika reported a 3.8% decline in sales for the first nine months of 2025, totaling approximately 8.58 billion Swiss francs ($10.82 billion), attributed to a strong Swiss franc and weak construction markets, particularly in China. In response, Sika plans structural reforms including workforce reductions of up to 1,500 jobs and expects one-time restructuring costs of 80 to 100 million francs in 2025. The company launched the "Fast Forward" initiative, involving investments of 120 to 150 million francs aimed at improving efficiency and operational excellence, with anticipated annual savings of 150 to 200 million francs by 2028. Despite these challenges, Sika expects modest sales growth in local currencies and targets an EBITDA margin near 19% after one-off costs, confirming a medium-term growth target of 3%–6%. CEO Thomas Hasler emphasized ongoing market share gains and resilience amid global headwinds, underscoring a focus on efficiency and sustainable profitability. The company remains unaffected by U.S. tariffs and has rebased its growth expectations to align with slower market expansion.