EMS-CHEMIE (EMSN) H1 2024 earnings summary

Executive summary

• Net sales reached CHF 1,087 million for January–June 2024, down from CHF 1,183 million year-over-year, mainly due to a strong Swiss Franc.

• EBIT increased to CHF 291 million from CHF 280 million, and EBITDA rose to CHF 318 million from CHF 305 million, both exceeding prior year figures.

• Sales volumes and net operating income improved despite weak global economic conditions and unfavorable currency effects.

• Successful launch of innovative application solutions and a global sales offensive contributed to profitable new business.

Financial highlights

• Net sales declined 8.1% year-over-year, with a 4.7% negative currency effect.

• EBIT margin improved to 26.8% from 23.6% year-over-year.

• EBITDA margin increased to 29.3% from 25.8% year-over-year.

• Proposed dividend of CHF 16.00 per share, down from CHF 20.00 per share.

Outlook and guidance

• 2024 expected to remain challenging due to geopolitical conflicts, inflation, and rising raw material and transport costs.

• Net sales for 2024 anticipated to be slightly below previous year due to currency effects; EBIT expected slightly above previous year.

• Continued focus on growth strategy with specialties and investment in capacity and energy efficiency.