On 23 October 2026, SGS reported third-quarter revenue of CHF 1.98 billion, up 14.6% year on year. The inspection and certification specialist confirmed its targets for 2026, a benchmark closely watched by holders of SGS shares.
Organic growth, excluding acquisitions, reached 5.7% between July and the end of September 2026. These figures appear in the Zug-based group's press release, reported by the AWP news agency.
The figures published by SGS for the third quarter of 2026
SGS's sales slightly exceeded market expectations. Analysts surveyed by AWP had forecast revenue of CHF 1.95 billion and organic growth of 5.6%.
- Revenue for the third quarter of 2026: CHF 1.98 billion, up 14.6% year on year;
- organic growth over the same period: 5.7%;
- Digital Trust segment: +37%;
- Impact Now segment: +23%.
The two most dynamic segments benefit in particular from acquisitions in cybersecurity. SGS cites the acquisitions of Prescient Security and Netsentries.
Growth driven by acquisitions
The gap between 14.6% and 5.7% points to a useful distinction. Total growth includes the acquired companies, while organic growth excludes them.
SGS is buying a lot in 2026. The group has completed 18 acquisitions since the start of the year, according to the press release. Together they represent combined annual revenue of more than CHF 150 million.
Cybersecurity plays a central role in this strategy. This segment currently brings in CHF 300 million in revenue a year, according to management.
The issue also concerns Swiss companies. According to a study published on 22 October 2026, 6% of Swiss SMEs have suffered a serious cyberattack in three years.
2026 targets: SGS management confirms its range
Management is maintaining its targets for the full year 2026. These are forecasts, not results already achieved.
- organic growth of between 5% and 7%;
- a contribution from acquisitions of around 7%.
At 5.7% in the third quarter, organic growth falls within the announced range. It nevertheless remains closer to the bottom than to the top.
CEO Géraldine Picaud is already looking ahead to 2027. In a conference call on 23 October 2026, she spoke of "flawless" execution and said she was very confident about the 2027 strategy.
Regions: European agriculture weighs, the Middle East little
The regions are developing unevenly, according to Géraldine Picaud. European agricultural policies are having an impact on the group's business, she lamented.
In the Middle East, the conflicts have had only a limited impact, despite the sharp rise in oil prices. This region accounts for only 3% of SGS's business volume.
The group also announced an appointment. Gabriel Julia becomes head of the Health & Nutrition segment and a member of the executive committee.
SGS compared with other Swiss groups in the third quarter
Other large Swiss groups published their quarterly figures in October 2026. The table compares the reported increases and is not a ranking.
| Group | Sales in the third quarter of 2026 | Year-on-year increase | Annual targets |
|---|---|---|---|
| SGS | CHF 1.98 billion | +14.6% | Confirmed |
| Holcim | CHF 4.66 billion | +15.5% | Raised |
| ABB | USD 9.70 billion | +14% | Reaffirmed |
| Roche | CHF 16.13 billion | +8.1% in Swiss francs | Maintained |
The comparison has its limits. ABB reports in dollars, and the share of acquisitions differs from one group to another. Details can be found in our articles on Sika and Holcim's results, on ABB's third-quarter orders and on Roche's nine-month sales.
What holders of SGS shares are watching
For a shareholder, organic growth says more than the total increase. It measures the progress of existing businesses, without the effect of acquisitions.
The stock market reaction is only partly known. At around 8:15 am on 23 October 2026, SGS shares were expected to rise by 0.6%, according to Julius Bär's pre-market indications. This indication is not a recommendation.
The next milestone has been set. SGS will present its development plans at its investor meeting in Berlin on 17 and 18 November 2026.
What we don't know yet
- The exact share of acquisitions and currency effects in the 14.6% increase: the news report only gives organic growth.
- The quarter's profit and margin, which the source does not mention.
- The quantified extent of the impact of European agricultural policies.
- The detailed content of the 2027 strategy, expected in Berlin on 17 and 18 November 2026.
- The performance of SGS shares at the close on 23 October 2026, which the source does not describe.
Sources
- Allnews (AWP): SGS progresse au troisième trimestre, 23 October 2026
