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Course of business 2015

The EMS Group, with its companies combined in EMS-CHEMIE HOLDING AG, is globally active in the business areas High Performance Polymers and Specialty Chemicals. In the first half of 2015, sales volumes increased by 8.0% compared to the previous year. Due to currency effects, net sales in Swiss Francs dropped -3.0% below the previous year's figures. Despite substantial negative currency effects, EMS achieved an increase in net operating income (EBIT) of 5.4% compared to the previous year.

Consolidated net sales in Swiss Francs reached CHF 969 million (999) which is -3.0% lower than in the previous year. Sales volumes were increased by 8.0%. The economy turned out to be moderately positive. EMS realised new business and successfully launched a growth offensive in response to the decoupling of the Swiss Franc from the Euro. Strong negative currency effects, as well as raw-material related sales price reductions, reduced net sales in Swiss Francs. Growth of net sales in local currencies was 4.4%.

The negative currency effect on net operating income (EBIT) was a substantial -12% due to the still high share of products manufactured in Switzerland. Strongly increased sales volumes and worldwide efficiency improvements overcompensated for this effect so that net operating income (EBIT) closed at CHF 226 million (215), 5.4% above previous year. The operational cash flow (EBITDA) rose to CHF 252 million (242) and 4.3% above previous year. The EBIT margin increased to 23.4% (21.5%), the EBITDA margin to 26.0% (24.2%).