Course of business 2022

EMS had already prepared for unstable economic development at the beginning of 2022. The proven strategy of specialties was continued and planned new development and expansion projects to generate new business pursued now more than ever. In this way, new business with profitable specialities was realized successfully and pleasing growth of net sales achieved in all geographic regions. New products providing energy and cost savings were realized together with customers and opportunities presenting themselves in the markets were seized immediately.

The investment programme announced last year, with more than CHF 300 million invested in increased capacity and energy efficiency at the main production site in Domat/Ems (Switzerland), was implemented as planned. Further production sites were also expanded. Through proactive measures taken early to safeguard the energy supply, delivery reliability worldwide was ensured at all times. Rising inflation, in particular the massive increases in raw material prices, made corresponding sales price increases for customers inevitable.

Consolidated net sales closed at CHF 2,442 million (2,254) which is 8.3% above previous year. Weaker foreign currencies reduced net sales in Swiss Francs. Adjusted for currency influences, net sales rose by 12.6% to a new record value.

Net operating income (EBIT) reached CHF 611 million (640), resulting, due to the difficult market environment and currency situation, in a decrease of 4.6% compared to the record year 2021. The operational cash flow (EBITDA) amounted to CHF 661 million (696). While customer orders in 2021 reflected the backlog demand and stocks were built up strongly throughout the whole supply chain, in 2022, customers followed the weakening economy, reducing stocks to gain liquidity and ordering extended holiday closures.