EMS-CHEMIE (EMSN) Q3 2024 earnings summary

Executive summary

• Achieved net sales of CHF 1,589 million for Jan–Sep 2024, down 6.3% year-over-year due to currency effects.

• Net operating income (EBIT) significantly higher than previous year in Q3, driven by successful new business.

• Sales offensive and expansion in Asia, America, and Europe led to increased sales volumes and profitability.

• Weak global economy, strong Swiss Franc, and subdued consumer mood impacted sales.

Financial highlights

• Net sales declined to CHF 1,589 million from CHF 1,697 million year-over-year.

• EBIT margin increased due to profitable new business and higher sales volumes.

• High Performance Polymers net sales fell 7.2% to CHF 1,437 million; Specialty Chemicals grew 3% to CHF 152 million.

Outlook and guidance

• Expects weak global economy and strong Swiss Franc to persist in Q4 2024.

• Net sales for 2024 expected slightly below previous year; EBIT slightly above previous year.

• Plans to intensify sales offensive and pursue growth strategy with specialties.