EMS-CHEMIE (EMSN) Q2 2025 earnings summary

Executive summary

• Net sales reached CHF 1,020 million in H1 2025, down 6.2% year-over-year, but net operating income (EBIT) rose 1.4% to CHF 296 million.

• Profitability improved with EBIT margin at 29.0% and EBITDA margin at 31.7%, driven by innovation and efficiency programs.

• Expansion of technical sales and development in Asia, America, and Europe generated highly profitable new business.

• The company maintained strong performance despite global economic weakening, trade barriers, and a stronger Swiss Franc.

Financial highlights

• EBITDA for H1 2025 was CHF 323 million, up 1.3% year-over-year; EBIT was CHF 296 million, up 1.4%.

• EBIT margin increased to 29.0% from 26.8% year-over-year; EBITDA margin rose to 31.7% from 29.4%.

• High Performance Polymers segment: net sales CHF 914 million (-6.9%), EBIT CHF 279 million (+0.9%).

• Specialty Chemicals segment: net sales CHF 105 million (+0.8%), EBIT CHF 17 million (+11.0%).

Outlook and guidance

• Net sales for full-year 2025 expected to remain below previous year due to currency effects.

• Net operating income (EBIT) for 2025 projected to be slightly above previous year.

• Company will continue its growth strategy focused on specialties and innovation.

• Maintains high equity ratio and no debt, supporting above-average results.