EMS-CHEMIE (EMSN) Q4 2025 earnings summary

Executive summary

• Achieved net sales of CHF 1,950 million in 2025, with net operating income (EBIT) of CHF 567 million, both above the previous year despite a strong Swiss Franc and global economic challenges.

• Growth driven by a global sales offensive, innovation in high-margin specialties, and strong business development in Asia.

• Maintained profitability and increased margins through cost discipline, proactive planning, and expansion in growth markets like China, India, and Brazil.

Financial highlights

• Net sales decreased by 5.8% year-over-year, mainly due to currency effects, but EBIT rose by 5.2% to CHF 567 million.

• EBITDA increased by 5.2% to CHF 622 million, with EBITDA margin improving to 31.9% from 28.6% year-over-year.

• Net income grew 1.2% to CHF 467 million, and earnings per share reached CHF 19.95.

• Cash flow from operating activities rose to CHF 534 million, and equity ratio improved to 83.3%.

Outlook and guidance

• Expects a challenging 2026 with continued geopolitical and currency headwinds.

• Forecasts net sales below previous year due to currency effects, but anticipates EBIT slightly above previous year.

• Will continue to focus on growth with specialties, innovation, and global development partnerships.