Swiss EMS Group still going strong
The first half of the ongoing of Swiss EMS Group (high performance polymers and specialty chemicals) has been rewarded with positive sales and net operating income
Net sales increased 5.5 % (in local currencies 5.7 %) or from CHF 904 million to CHF 954 million and considering the same scope of consolidation (EMS EFTEC business in Central and Eastern Europe is now fully consolidated since April 2013) a plus of 2.8 % would result. The operational Cash Flow (EBITDA) increased 9.7 % or from CHF 191 million to CHF 210 million and the mark of net sales is 22.0 % (21.2 %). The operating income (EBIT) was 9.3 % higher or from CHF 167 million ot CHF 183 million and represents 19.2 % (18.5 %) of net sales.
High Performance Polymers reported net sales of CHF 819 million (CHF 754 million) or +8.6 % (9% in local currencies). Specialty Chemicals contributed less sales (-10.1 %, in local currencies -10.7 %), they decreased from CHF 150 million to CHF 135 million. This business was affected by the weak economic situation. Thanks to concentration on strategic, innovative and new businesses as well as cost discipline, it was possible to maintain earning margin at high level.
For the entire 2013, EMS expects net sales and net operating income (EBIT) slightly over the 2012 results and confirmed all other forecasts made before.
At the annual general meeting, on August 10, 2013, the current members of the board Dr. UIlf Berg and Magdalena Martullo stand for re-election, newly proposed are Swiss Urs Fankhauser (53) active for 27 years for Swiss Sulzer group and for 11 years serving as president of Sulzer Chemtech division. He is also a board member of Burckhardt Compression AG and Bossard AG for many years. Further German Dr. Joachim Streu (57), holding different international positions with BASF over 27 years and most recently as president of the styrenics division. He has been leader of the BASF internal management consulting unit for four years and is active since 2012 independently in the same field. The two proposed persons will replace the former board members Dr. Hansjörg Frei and Dr. Werner Prätorius who are not standing for re-election because of age.