EMS Group: Annual results 2009

With its companies combined in EMS-CHEMIE HOLDING AG and with global activities in the business areas Performance Polymers and Fine Chemicals / Engineering, in 2009 the EMS Group achieved net sales of CHF 1,198 million (1,504) and a net operating income (EBIT) of CHF 222 million (220). After a weak first half year due to the poor economy, the result increased to an exceptionally high level during the second half year. Annual net sales were clearly lower than in the previous year, while the net operating income was even slightly higher.

Consolidated net sales amounted to CHF 1,198 million (1,504) which is 20.4% lower than in the previous year. In local currencies this decrease was 17.6%. During the year the business situation improved continuously and, correspondingly, so did net sales which exceeded the figure for the previous year by 13.6% in the fourth quarter.

Worldwide demand for consumer and investment goods, which dropped to historically low values in the first half year, recovered clearly during the second half year. Consumers and companies regained their trust: Consumer decisions were made and strongly reduced inventory stocks were built up again slightly. Especially the hard-hit automotive industry, which is particularly important for EMS, profited from the state incentives worldwide.

EMS was able to successfully achieve planned growth with new business in the main area of Performance Polymers. Apart from the low number of vehicles manufactured, the automotive industry developed in a pleasing way, with new applications for replacement of metal, and the automotive supplier EMS-EFTEC gained further market shares worldwide. Construction of new production sites in the growth markets China, India and Brazil was carried out as per plan.