Course of business

As expected, the global economic development was weak in the first half of 2024 and the consumer mood, in particular in the main markets Europe and China, remained depressed. Ongoing geopolitical conflicts are unsettling consumers and companies. Additionally, lower spending power is hampering the consumer mood. In Germany, Europe's leading industrial nation, the manufacturing shows no signs of recovery. Chinese consumers are lacking confidence. The current geopolitical conflicts are causing energy, raw material and freight costs to increase. Switzerland's moderate inflation rates and its role as a "safe haven" further strengthened the Swiss Franc.

In this restrained market environment, EMS consistently focuses on broader market development with its innovative specialties. Planned new business was realized successfully. Contrary to the general trend, EMS had already decided in 2023 to massively expand sales and development in all three regions of Asia, America and Europe. Due to high market demand for innovative system solutions providing cost and energy savings, reduction of CO2 emissions, and for new technology such as in electric cars and the healthcare sector, EMS already achieved significant initial success. Thanks to realized new business, sales volumes and net operating income (EBIT) were pleasingly increased compared to previous year.

Due to its strong position with specialties and attractive innovations, EMS was able to achieve a net operating income (EBIT) of CHF 291 million (280) and a net operating income before depreciation (EBITDA) of CHF 318 million (305), despite a weak market environment and unfavorable foreign currencies. In this way, the EBIT was 4.0% above previous year, EBITDA 4.3%. The EBIT margin reached 26.8% (23.6) and the EBITDA margin 29.3% (25.8).