EMS-CHEMIE (EMSN) Q4 2024 earnings summary

Executive summary

• Net sales reached CHF 2,071 million, down 5.4% year-over-year, mainly due to currency effects, but sales volumes, EBIT, and net income increased.

• EBIT rose 9.5% to CHF 539 million and EBITDA increased 9.1% to CHF 592 million, reflecting strong performance in specialties and innovation.

• Net income grew 1.1% to CHF 466 million; earnings per share reached CHF 19.70.

• Major new business wins and global development partnerships contributed to growth despite weak economic conditions and a strong Swiss Franc.

• Not affected by punitive tariffs; proactive adaptation of trade routes ensured business continuity.

Financial highlights

• Net sales: CHF 2,071 million (-5.4% year-over-year); adjusted for currency, -1.6%.

• EBIT: CHF 539 million (+9.5%); EBITDA: CHF 592 million (+9.1%).

• Net income: CHF 466 million (+1.1%); EPS: CHF 19.70.

• Cash flow: CHF 480 million; investments: CHF 33 million, mainly in Switzerland.

• Equity: CHF 1,835 million; equity ratio: 82.4%.

Outlook and guidance

• For 2025, net sales expected below previous year due to currency effects; EBIT anticipated slightly above previous year.

• Continued focus on innovation, technical sales, and sustainability; personnel resources in technical sales and development to be 75% higher by end of 2025 vs. early 2023.

• Ongoing expansion of global development partnerships and sustainability initiatives, including net zero target by 2050.