Aankondiging • Apr 14
Sika AG Reiterates Earnings Guidance for the Year 2026 Sika AG reiterated earnings guidance for the year 2026. For the period, the company expects sales growth of 1% to 4% in local currencies;in line with the company target of outperforming the market by 3% to 6% in local currencies including bolt-on acquisitions. Aankondiging • Mar 25
Sika AG Approves Board and Committee Appointments Sika AG at its Annual General Meeting held on March 24, 2026, Barbara Frei and Lukas Gähwiler were newly elected to the Board of Directors for a one-year term of office. The shareholders elected Lukas Gähwiler as member of the Nomination and Compensation Committee for a one-year term of office. Upcoming Dividend • Mar 19
Upcoming dividend of CHF3.70 per share Eligible shareholders must have bought the stock before 26 March 2026. Payment date: 30 March 2026. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (4.1%). Aankondiging • Feb 25
Sika AG, Annual General Meeting, Mar 24, 2026 Sika AG, Annual General Meeting, Mar 24, 2026, at 04:00 W. Europe Standard Time. Location: zurich convention center, zurich Switzerland Aankondiging • Feb 24
Paul Schuler Will Not Stand for Re-Election to the Board of Directors of Sika AG Sika AG announced that at the AGM to be held on March 24, 2026, Paul Schuler is not stand for re-election as members of the Board of Directors. Declared Dividend • Feb 22
Dividend increased to CHF3.70 Dividend of CHF3.70 is 2.8% higher than last year. Ex-date: 26th March 2026 Payment date: 30th March 2026 Dividend yield will be 2.3%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Feb 21
Sika AG announces Annual dividend, payable on March 30, 2026 Sika AG announced Annual dividend of CHF 1.8500 per share payable on March 30, 2026, ex-date on March 26, 2026 and record date on March 27, 2026. Reported Earnings • Feb 21
Full year 2025 earnings released Full year 2025 results: Revenue: CHF11.2b (down 4.8% from FY 2024). Net income: CHF1.05b (down 16% from FY 2024). Profit margin: 9.3% (down from 11% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Chemicals industry in the United Kingdom. Aankondiging • Feb 20
Sika AG Provides Earnings Guidance for the Year 2026 Sika AG provided earnings guidance for the year 2026. For the period, the company expects sales growth of 1% to 4% in local currencies; in line with company ambition to outperform the market by 3% to 6% in local currencies including bolt-on acquisitions. Aankondiging • Feb 14
Sika AG (SWX:SIKA) agreed to acquire Akkim Yapi Kimyasallari Sanayi Ve Ticaret Anonim Sirketi from a family. Sika AG (SWX:SIKA) agreed to acquire Akkim Yapi Kimyasallari Sanayi Ve Ticaret Anonim Sirketi from a family on February 13, 2026.
Akkim Yapi Kimyasallari Sanayi Ve Ticaret Anonim Sirketi generated net sales of approximately CHF 220 million in 2025.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is July 1, 2026 to September 30, 2026. Aankondiging • Dec 16
Sika AG (SWX:SIKA) agreed to acquire Finja Bemix AB from Andersson family. Sika AG (SWX:SIKA) agreed to acquire Finja Bemix AB from Andersson family on December 15, 2025. For the period ending December 31, 2024, Finja Bemix AB reported total revenue of CHF 60 million. The transaction is subject to regulatory approvals. Closing of the acquisition is expected in the first quarter of 2026. Reported Earnings • Oct 26
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: CHF2.90b (down 5.8% from 3Q 2024). Net income: CHF316.1m (down 8.5% from 3Q 2024). Profit margin: 11% (in line with 3Q 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 14% decline forecast for the Chemicals industry in the United Kingdom. Aankondiging • Oct 21
Sika Announces Introduction of the Sika Carbon Compass Sika is advancing its sustainability strategy with the introduction of the Sika®? Carbon Compass - an automated platform for calculating Product Carbon Footprints (PCF). The calculation methodology has been independently verified by TUV Rheinland, Germany, and is in line with internationally recognized standards. With this certified approach, Sika provides reliable, carbon emissions data, allowing its customers to make informed, climate-conscious decisions. Sika customers benefit from gaining access to reliable carbon data for smarter decisions and efficient planning. Automated PCF insights simplify reporting and boost competitiveness in tenders, enhancing credibility across sustainable value chains. In addition, the Sika®? CarbonComp empowers customers to meet current standards and lead the way in future sustainability frameworks, such as the Ecodesign for Sustainable Products Regulation (ESPR) and the Construction Product Regulation (CPR). The Sika®? Carbon Compass reflects the company's long-term sustainability commitment and is another key element of the Sika Strategy 2028. By integrating carbon intelligence into every product decision, the platform supports measurable climate progress that benefits customers and the planet alike. Aankondiging • Oct 02
Sika AG (SWX:SIKA) acquired Marlon Tørmørtel A/S. Sika AG (SWX:SIKA) acquired Marlon Tørmørtel A/S on October 1, 2025. The acquisition creates a growth platform for Sika in the Nordics, providing exciting opportunities for further market expansion and cross-selling with Sika’s complementary solutions.
Sika AG (SWX:SIKA) completed the acquisition of Marlon Tørmørtel A/S on October 1, 2025. Reported Earnings • Jul 31
First half 2025 earnings released: EPS: CHF3.45 (vs CHF3.59 in 1H 2024) First half 2025 results: EPS: CHF3.45 (down from CHF3.59 in 1H 2024). Revenue: CHF5.68b (down 2.7% from 1H 2024). Net income: CHF553.8m (down 3.8% from 1H 2024). Profit margin: 9.8% (in line with 1H 2024). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Aankondiging • Jul 29
Sika AG to Report First Half, 2026 Results on Jul 28, 2026 Sika AG announced that they will report first half, 2026 results on Jul 28, 2026 Buy Or Sell Opportunity • May 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.6% to CHF206. The fair value is estimated to be CHF260, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. Buy Or Sell Opportunity • Mar 27
Now 20% undervalued Over the last 90 days, the stock has risen 1.5% to CHF219. The fair value is estimated to be CHF274, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings are also forecast to grow by 8.4% per annum over the same time period. Upcoming Dividend • Mar 20
Upcoming dividend of CHF3.60 per share Eligible shareholders must have bought the stock before 27 March 2025. Payment date: 31 March 2025. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (4.1%). Aankondiging • Mar 05
Sika AG (SWX:SIKA) acquired Cromar Building Products Ltd. Sika AG (SWX:SIKA) acquired Cromar Building Products Ltd. on March 3, 2025. The acquisition of Cromar will strengthen Sika’s presence and enhance its product portfolio in the roofing distribution channel.
Andy Haigh, Will Holmes, Will Sykes, Luke Harrower, Emma Oakley and Alex Gut of Translink Corporate Finance in the United Kingdom and Switzerland, acted as financial advisor to Cromar Building Products. Jonathan Simms, Nicola Cooper, and Jonathan Schneider of Clarion Solicitors provided legal advice to the shareholders of Sika and a team from PwC’s Leeds office consisting of Will Oxley, Ben Ferguson, Peter Newbery, and Jonny Bruce carried out financial due diligence on behalf of Sika. Jonathan White, Perdi Edge-Partington and Ed Hitchen of DAC Beachcroft provided legal advice to Sika.
Sika AG (SWX:SIKA) completed the acquisition of Cromar Building Products Ltd. on March 3, 2025. Aankondiging • Mar 04
Sika AG (SWX:SIKA) acquired an unknown majority stake in HPS North America, Inc. Sika AG (SWX:SIKA) acquired an unknown majority stake in HPS North America, Inc. on March 4, 2025.
Sika AG (SWX:SIKA) completed the acquisition of an unknown majority stake in HPS North America, Inc. on March 4, 2025. Declared Dividend • Feb 24
Dividend increased to CHF3.60 Dividend of CHF3.60 is 9.1% higher than last year. Ex-date: 27th March 2025 Payment date: 31st March 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 9.8% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Feb 22
Sika AG announces Annual dividend, payable on March 31, 2025 Sika AG announced Annual dividend of CHF 1.8000 per share payable on March 31, 2025, ex-date on March 27, 2025 and record date on March 28, 2025. Reported Earnings • Feb 22
Full year 2024 earnings released: EPS: CHF7.76 (vs CHF6.82 in FY 2023) Full year 2024 results: EPS: CHF7.76 (up from CHF6.82 in FY 2023). Revenue: CHF11.8b (up 4.7% from FY 2023). Net income: CHF1.25b (up 17% from FY 2023). Profit margin: 11% (up from 9.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.1% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Aankondiging • Feb 21
Sika AG to Report Fiscal Year 2025 Results on Feb 20, 2026 Sika AG announced that they will report fiscal year 2025 results on Feb 20, 2026 Aankondiging • Feb 04
Sika AG (SWX:SIKA) acquired Elmich Pte Ltd. Sika AG (SWX:SIKA) acquired Elmich Pte Ltd. on February 3, 2025.
Sika AG (SWX:SIKA) completed the acquisition of Elmich Pte Ltd. on February 3, 2025. Aankondiging • Jan 09
Sika AG to Report Fiscal Year 2024 Results on Feb 21, 2025 Sika AG announced that they will report fiscal year 2024 results on Feb 21, 2025 Buy Or Sell Opportunity • Dec 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to CHF218. The fair value is estimated to be CHF274, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 8.8% per annum over the same time period. Aankondiging • Nov 07
Sika AG completed the acquisition of Chema. Sika AG agreed to acquire Chema on August 7, 2023. The transaction is subject to antitrust approval. As of year ended 2022, Chema reported revenue of CHF 50 million. As of February 10, 2024, INDECOPI has initiated the second phase of the evaluation of the merger between Sika and Chema. Allan Zoccolillo and Liliana Espinosa of Baker McKenzie acted as legal advisors to Sika AG.
Sika AG completed the acquisition of Chema on November 6, 2024. Reported Earnings • Oct 27
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: CHF3.08b (flat on 3Q 2023). Net income: CHF345.3m (up 6.3% from 3Q 2023). Profit margin: 11% (in line with 3Q 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.4% decline forecast for the Chemicals industry in the United Kingdom. Aankondiging • Aug 02
Sika AG (SWX:SIKA) acquired Vinaldom, S.A.S. Sika AG (SWX:SIKA) acquired Vinaldom, S.A.S on August 2, 2024.
Sika AG (SWX:SIKA) completed the acquisition of Vinaldom, S.A.S on August 2, 2024. Reported Earnings • Jul 31
First half 2024 earnings released: EPS: CHF3.59 (vs CHF2.67 in 1H 2023) First half 2024 results: EPS: CHF3.59 (up from CHF2.67 in 1H 2023). Revenue: CHF5.83b (up 9.2% from 1H 2023). Net income: CHF575.9m (up 40% from 1H 2023). Profit margin: 9.9% (up from 7.7% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.6% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Aankondiging • Apr 05
Sika AG, Annual General Meeting, Mar 25, 2025 Sika AG, Annual General Meeting, Mar 25, 2025. Aankondiging • Apr 04
Sika AG (SWX:SIKA) acquired Kwik Bond Polymers, LLC. Sika AG (SWX:SIKA) acquired Kwik Bond Polymers, LLC on April 3, 2024. All the Kwik Bond Polymers, LLC employees will join Sika AG team.Sika AG (SWX:SIKA) completed the acquisition of Kwik Bond Polymers, LLC on April 3, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of CHF3.30 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 April 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (2.9%). Declared Dividend • Feb 19
Dividend increased to CHF3.30 Dividend of CHF3.30 is 3.1% higher than last year. Ex-date: 28th March 2024 Payment date: 3rd April 2024 Dividend yield will be 1.3%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 10.0% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 18
Full year 2023 earnings released: EPS: CHF6.82 (vs CHF7.57 in FY 2022) Full year 2023 results: EPS: CHF6.82 (down from CHF7.57 in FY 2022). Revenue: CHF11.2b (up 7.1% from FY 2022). Net income: CHF1.06b (down 8.6% from FY 2022). Profit margin: 9.4% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.2% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Buy Or Sell Opportunity • Feb 13
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at CHF239. The fair value is estimated to be CHF299, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Aankondiging • Jan 10
Sika AG to Report Fiscal Year 2023 Results on Feb 16, 2024 Sika AG announced that they will report fiscal year 2023 results on Feb 16, 2024 Aankondiging • Nov 29
Sika AG (SWX:SIKA) acquired 30% stake in Concria Oy. Sika AG (SWX:SIKA) acquired 30% stake in Concria Oy on November 28, 2023.Sika AG (SWX:SIKA) completed the acquisition of 30% stake in Concria Oy on November 28, 2023. Reported Earnings • Oct 24
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: CHF3.10b (up 13% from 3Q 2022). Net income: CHF324.8m (up 13% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 6.1% decline forecast for the Chemicals industry in the United Kingdom. New Risk • Oct 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risk Shareholders have been diluted in the past year (4.4% increase in shares outstanding). Aankondiging • Sep 15
Sika AG Announces Board and Executive Changes Sika AG announces planned changes to the Board of Directors and the Group Management. The decisions have been made ahead of the presentation of the new growth strategy at the Capital Markets Day on October 3, 2023. Thierry F. J. Vanlancker will be proposed as new Chair of the Board of Directors at the next Annual General Meeting in 2024, as Paul Hälg has decided to step down from his position after twelve successful years to make way for a new era. Thierry F.J. Vanlancker has been a member of the Board since 2019. He has held various management positions in the chemical sector for more than 30 years and possesses in-depth knowledge of strategy, M&A, product development, sales & marketing with specific know-how in chemicals and distribution. Paul Hälg has been a member of the Board of Directors since 2009 and the Chair of the Board since 2012. During this time, Sika has seen significant profitable growth and numerous successful acquisitions and integrations, with Parex and MBCC as outstanding examples. To enhance the capabilities and know-how of the Group Management in light of the new Growth Strategy 2028, the following changes to the management team will be effective as of October 1, 2023. Philippe Jost, currently Head Construction, is appointed Regional Manager Asia/Pacific. He joined Sika 26 years ago, has been a member of Group Management since 2019, and has held various management positions in the USA and in Switzerland. Ivo Schädler, currently Regional Manager EMEA, is appointed Head Construction. He joined Sika 26 years ago, has been a member of Group Management since 2017, and has held managerial positions in both Switzerland and the UK. Raffaella Marzi, currently Head Human Resources & Compliance, will additionally act as Head Legal. She takes over from Stefan Mösli, who has decided to step down after successfully heading the department since 1996. Raffaella Marzi joined Sika nine years ago and has been a member of Group Management since 2020. Under her leadership, Sika has successfully integrated the Parex workforce and prepared the MBCC integration. Stefan Mösli will remain with Sika as Senior Counsel. Buying Opportunity • Aug 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.0%. The fair value is estimated to be CHF308, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 7.1%. For the next 3 years, revenue is forecast to grow by 8.9% per annum. Earnings is also forecast to grow by 18% per annum over the same time period. New Risk • Aug 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
First half 2023 earnings released: EPS: CHF2.67 (vs CHF3.95 in 1H 2022) First half 2023 results: EPS: CHF2.67 (down from CHF3.95 in 1H 2022). Revenue: CHF5.35b (up 1.8% from 1H 2022). Net income: CHF411.1m (down 31% from 1H 2022). Profit margin: 7.7% (down from 11% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 6.0% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year. Aankondiging • Aug 08
Sika AG agreed to acquire Chema. Sika AG agreed to acquire Chema on August 7, 2023. The transaction is subject to antitrust approval. As of year ended 2022, Chema reported revenue of CHF 50 million. Aankondiging • Jul 07
Sika AG (SWX:SIKA) acquired Thiessen Team USA, Inc. from family. Sika AG (SWX:SIKA) acquired Thiessen Team USA, Inc. from family on July 6, 2023. Thiessen employees will join the Sika's team.
Sika AG (SWX:SIKA) completed the acquisition of Thiessen Team USA, Inc. from family on July 6, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of CHF3.20 per share at 1.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 03 April 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.1%). Reported Earnings • Feb 20
Full year 2022 earnings released: EPS: CHF7.57 (vs CHF7.39 in FY 2021) Full year 2022 results: EPS: CHF7.57 (up from CHF7.39 in FY 2021). Revenue: CHF10.5b (up 13% from FY 2021). Net income: CHF1.16b (up 11% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year. Aankondiging • Jan 20
Sika AG to Report Fiscal Year 2022 Results on Feb 17, 2023 Sika AG announced that they will report fiscal year 2022 results on Feb 17, 2023 Aankondiging • Jan 18
INEOS Enterprises Group Limited signed an agreement to acquire the admixtures business of MBCC Group from Sika AG (SWX:SIKA). INEOS Enterprises Group Limited signed an agreement to acquire the admixtures business of MBCC Group from Sika AG (SWX:SIKA) on January 16, 2023. By the end of 2022, the admixtures business generated net sales of around CHF 920 million. The completion of the transaction is subject to regulatory approvals and expected in first half of 2023. Sika expects annual synergies of CHF 160 to 180 million following closing. BofA Securities, Inc. acted as financial advisor to Sika AG in the transaction. Sally Wokes, Harry Hecht, David Ives, Charles Osborne, Claire Jeffs, Charles Cameron, John Nevin and Richard Keczkes of Slaughter and May acted as legal advisor to INEOS Enterprises. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 22% share price gain to CHF265, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 18x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF295 per share. Aankondiging • Oct 22
Sika AG to Report Nine Months, 2023 Results on Oct 20, 2023 Sika AG announced that they will report nine months, 2023 results on Oct 20, 2023 Reported Earnings • Jul 26
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down CHF494.4m from profit in 1H 2021). Profit margin: (down from 11% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 21% compared to a 15% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 16% per year. Buying Opportunity • Jul 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be CHF271, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 7.0% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Buying Opportunity • Jun 10
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be CHF319, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 8.7% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Upcoming Dividend • Apr 07
Upcoming dividend of CHF2.90 per share Eligible shareholders must have bought the stock before 14 April 2022. Payment date: 20 April 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of British dividend payers (4.6%). Lower than average of industry peers (2.6%). Reported Earnings • Feb 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CHF7.39 (up from CHF5.82 in FY 2020). Revenue: CHF9.25b (up 18% from FY 2020). Net income: CHF1.05b (up 27% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 8.8% compared to a 3.9% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 23
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CHF2.41b (up 10% from 3Q 2020). Net income: CHF270.1m (down 5.4% from 3Q 2020). Profit margin: 11% (down from 13% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Jul 31
High number of new directors Director Paul Schuler was the last director to join the board, commencing their role in 2021. Executive Departure • Apr 21
Director has left the company On the 20th of April, Frits van Dijk's tenure in the role of Director ended. As of December 2020, Frits personally held 9.03k shares (CHF2.2m worth at the time). Frits is the only executive to leave the company over the last 12 months. Upcoming Dividend • Apr 16
Upcoming dividend of CHF2.50 per share Eligible shareholders must have bought the stock before 22 April 2021. Payment date: 26 April 2021. Trailing yield: 0.9%. Lower than top quartile of British dividend payers (4.2%). Lower than average of industry peers (1.6%). Is New 90 Day High Low • Mar 11
New 90-day high: CHF259 The company is up 13% from its price of CHF229 on 10 December 2020. The British market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF193 per share. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS CHF5.82 (vs CHF5.31 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CHF7.88b (down 2.9% from FY 2019). Net income: CHF824.5m (up 9.7% from FY 2019). Profit margin: 11% (up from 9.3% in FY 2019). The increase in margin was driven by lower expenses. Analyst Estimate Surprise Post Earnings • Feb 21
Revenue misses expectations Revenue missed analyst estimates by 0.03%. Over the next year, revenue is forecast to grow 7.2% compared to a 11% decline forecast for the Chemicals industry in the United Kingdom. Is New 90 Day High Low • Dec 31
New 90-day high: CHF245 The company is up 6.0% from its price of CHF231 on 02 October 2020. The British market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF176 per share. Is New 90 Day High Low • Nov 05
New 90-day high: CHF244 The company is up 19% from its price of CHF205 on 07 August 2020. The British market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF175 per share. Reported Earnings • Oct 25
Third quarter earnings released Over the last 12 months the company has reported total profits of CHF750.9m, largely unchanged from the prior year. Total revenue was CHF7.91b over the last 12 months, up 1.1% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 25
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 1.6% at CHF2.19b. Revenue is forecast to grow 5.4% over the next year, compared to a 15% decline forecast for the Chemicals industry in the United Kingdom. Is New 90 Day High Low • Oct 08
New 90-day high: CHF233 The company is up 24% from its price of CHF188 on 09 July 2020. The British market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF178 per share. Is New 90 Day High Low • Sep 18
New 90-day high: CHF223 The company is up 19% from its price of CHF187 on 19 June 2020. The British market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF110 per share. Aankondiging • Jul 31
Sika AG (SWX:SIKA) completed the acquisition of S.C. Adeplast S.A. Sika AG (SWX:SIKA) agreed to acquire S.C. Adeplast S.A. from Alexander Barbut, Thomas Barbut, Marcel Barbut and others on November 25, 2019. S.C. Adeplast CHF generated sales of CHF 120 million. The transaction is subject to clearance by anti-trust authorities and is expected to close in the first quarter of 2020. As on March 16, 2020, Romania's competition authority approved the transaction. Alantra, LLC and BI Corporate Finance acted as financial advisors for shareholders of S.C. Adeplast S.A. Ileana Glodeanu, Counsels Mircea Ciocirlea and Adelina Iftime Blagean of Wolf Theiss Si Associatti SCA acted as legal advisors for shareholders of S.C. Adeplast S.A. Cristian Lina of Eversheds Sutherland AG acted as legal advisor for Sika AG.
Sika AG (SWX:SIKA) completed the acquisition of S.C. Adeplast S.A. from Alexander Barbut, Thomas Barbut, Marcel Barbut and others on March 31, 2020. Filip & Company acted as legal advisor to Alexander Barbut, Thomas Barbut and Marcel Barbut. 
