Third-quarter report 2012 (January - September 2012)
- Positive development of net sales and result compared to previous year
- Weakening economy
Course of business January - September 2012
With its companies combined in the EMS-CHEMIE HOLDING AG and with global activities in the business areas of High Performance Polymers and Specialty Chemicals, the EMS Group increased net sales in the first nine months of 2012 by +7.3% compared to the previous year. In local currencies this corresponds to a growth of +5.9%.
As expected, the individual sales markets developed in very different ways. In Western Europe the economic development – already declining since the beginning of the year – led increasingly to a clear downturn in the third quarter. In September, production volumes of Western European automotive manufacturers dropped by even -21% compared to the previous year. Significant decreases are also expected for the fourth quarter of 2012. Asia and North America continue to show positive but noticeably slowing economic development.
Despite difficult market conditions, EMS recorded pleasing business development during the first nine months. Net sales amounted to CHF 1,346 million (1,255), an increase of +7.3% compared to the previous year. In local currencies this represents a growth of +5.9%. Successfully realised new business, strong sales growth outside of Europe and a stable valuation of the Swiss Franc to the Euro more than compensated for the market-related drop in net sales in Europe. Expansion of market positions was achieved in all geographic markets.
For the next months, EMS is anticipating a clear economic slowdown in Europe. Growth in Asia and the USA will possibly further weaken.
EMS is preparing itself for a longer phase of unfavourable economic development in Europe. Worldwide market development work will be intensified in order to consistently exploit available market potential. Focus will be placed on new applications with high performance polymers and further expansion of market positions outside of Europe.
Despite a difficult market environment, EMS continues to expect net sales and operating income (EBIT) for 2012 to close slightly above those of the previous year.