Swiss EMS Group results over three quarters 2015 and senior management addition
EMS AG, is globally active in the business areas High Performance Polymers and Specialty Chemicals. In the first nine months of 2015, sales volumes rose by +8 % compared to previous year. Due to currency effects, net sales in Swiss Francs dropped -3.1 % below the previous year’s figures. In local currencies sales grew by +4.3 %.
Despite substantial negative currency effects, EMS further increased net operating income (EBIT) above last year’s figures.
As expected, global economy, which had been slowing since the beginning of the year, slowed further in the third quarter. Output of cars in the NAFTA region increased and major automotive markets in Europe continued to recover.
However, the largest car market China showed a substantial drop and other important automotive markets like Russia and Brazil suffered a sustained slump. By consequence, the global automotive market figures fell back to the previous year’s level.
Net sales of the EMS Group amounted to CHF 1445 million (1490 million) which is -3.1 % below previous year. Sales volumes increased by +8 %. Despite the depressed economy, EMS further expanded new business successfully. The growth offensive launched in response to the decoupling of the Swiss Franc from the Euro was followed through successfully. Substantial negative currency effects, as well as raw-material related sales price reductions, lowered net sales in Swiss Francs.
Growth of net sales in local currencies was +4.3 %. The NAFTA and European business developed in an especially positive. Strong growth with high-margin specialty products and simultaneous cost discipline also had a pleasing effect on result and result margin in the third quarter.
For the next months, EMS is expecting an overall sluggish global economy without significant growth impulses. The American and European markets may slow further while emerging markets may be stabilising at a lower level.
New addition to Senior Management
Following Swiss parliamentary election (October 18, 2015) of Magdalena Martullo to the Swiss National Council, Markus Kremmel will join Senior Management of the EMS Group as from January 1, 2016, as an additional member. Markus Kremmel is a qualified financial expert and has held various senior leadership positions within the business unit EMS-EFTEC for the last 31 years, most recently as Head of Business Development. Magdalena Martullo will continue to uphold her responsibility as CEO and Vice-Chairman of the Board of Directors of the EMSCHEMIE HOLDING AG. With this increased leadership support, the Board of Directors and Senior Management are convinced that Magdalena Martullo will have the necessary capacity for her political work.