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Course of business 2021

The EMS Group, with its companies combined in the EMS-CHEMIE HOLDING AG, and globally active in the business areas High Performance Polymers and Specialty Chemicals, increased net sales in 2021 by 25.1% and net operating income by 24.3% compared to the previous year. In this way, net sales, net operating income and net income were considerably higher than the values achieved before the pandemic and, adjusted to currency influences, are new record levels in the more than 85 years of company history.

As already expected at the start of 2021, the global economy recovered noticeably after the slump caused by the pandemic. Massive state support and stimulus measures, above all in the USA, provoked significant sudden bursts of demand and led to supply bottlenecks worldwide. In the global automotive industry, the lack of semiconductors is even preventing recovery. Raw material shortages and logistic services, as well as the emergency situation with energy supplies, are further raising company manufacturing costs and causing a continual increase in consumer prices. The announced tightening of monetary policies is creating uncertainty in the markets.

Through extensive innovative new business EMS was again able to achieve significant above market-growth. It was possible to successfully expand business with specialty products in all regions of the world. During the pandemic, EMS continued to pursue development and expansion projects for new business.

Continually expanded production capacity and local inventory stocks safeguard the delivery capability of EMS. Close partnerships with customers could be further strengthened. EMS also, however, is forced to continually adjust sales prices due to higher prices for raw materials, logistics services and energy.

Consolidated net sales rose to CHF 2,254 million (1,802), net operating income (EBIT) to CHF 640 million (515). The operational cash flow (EBITDA) increased by 22.2% to CHF 696 million (569). Net income amounted to CHF 553 million (440) which is 25.8% above previous year. Earnings per share increased to CHF 23.53 (18.57).

For the business year 2021, the Board of Directors intends to propose to the Annual General Meeting distribution of an ordinary dividend of CHF 16.50 (13.00) per share and an additional extra-ordinary dividend of CHF 4.50 (4.00) per share. This means a total of CHF 21.00 (17.00) per share would be distributed.

Stefan Baumgärtner, Member of Executive Management and CFO of the EMS Group since October 16, 2017, will take up a new challenge outside EMS as per the end of April 2022. In May 2022, Oliver Flühler will join the EMS Group as Member of Executive Management and CFO. He is currently CFO for the 4B Group.

For the business year 2022, EMS is expecting an unstable economic situation. Unresolved political conflicts, higher inflationary trends and upcoming changes in monetary policies are increasingly unsettling the fundamentally confident markets and consumers.

EMS will continue to follow its successful strategy of growth with speciality products in the main area of High Performance Polymers. The proven innovation strategy with continual development of new business will be continued. In addition, the excellent market position enables EMS to make rapid and flexible use of current chances in the market.

For 2022, EMS is expecting net sales and net operating income (EBIT) again slightly higher than in the previous year.