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Third-quarter report 2014 (January - September 2014) of the EMS Group

- Worldwide economic slowdown

- Stable course of business for the EMS Group

10.10.2014

Course of business January - September 2014

The EMS Group, with its companies combined in the EMS-CHEMIE HOLDING AG, is globally active in the business areas High Performance Polymers and Specialty Chemicals. In the first 9 months of 2014, net sales increased by +3.4% compared to the previous year.

Following a favourable economy in the first half-year, global economic growth slowed significantly in the third quarter. As feared, omnipresent geopolitical conflicts are unsettling businesses and consumers, particularly in Europe and Asia, making them more cautions. Various countries (Japan, Thailand, Brazil, Argentina – but also France and Italy) are suffering sustained effects of politically-related weakness in investment and demand. For the coming months, EMS is expecting a further slowdown of the global economy.

Net sales of the EMS Group reached CHF 1,490 million (1,441) which is +3.4% higher than in the previous year. In local currencies this is an increase of +7.5% compared to the previous year. Weaker foreign currencies in comparison to the Euro (and the Swiss Franc) led to reduced growth in net sales in Swiss Francs. EMS was able to further expand specialty business in the main area High Performance Polymers with new product developments. This could be achieved particularly well in the global automotive industry, where numerous applications with high-performance polymers were realised and Business Unit EMS-EFTEC gained additional market share. Strong growth of high-margin specialty products and strict cost discipline had a positive effect on both result and result margin in the third quarter as well.

EMS is prepared for a slower economic development characterised by political instability. Costs will be handled with restraint and investments treated with caution. The successful growth strategy with specialty products in the area of high-performance polymers will be maintained. EMS will consistently exploit existing global market potential with special focus on metal replacement.

For the business year 2014, EMS continues to expect net sales to close slightly above previous year and net operating income (EBIT) to increase slightly over-proportionately.

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