With its companies combined in EMS-CHEMIE HOLDING AG, the EMS Group - with global activities in the fields of Performance Polymers, Fine Chemicals and Engineering - succeeded in raising its high earnings level in 2002 in spite of a difficult market environment.
With its companies combined in EMS-CHEMIE HOLDING AG, the EMS Group - with global activities in the fields of Performance Polymers, Fine Chemicals and Engineering - succeeded in raising its high earnings level in 2002 in spite of a difficult market environment.
Net operating income (EBIT) increased to CHF 195 million, an increase of 19.3% on the previous year's figure of CHF 163 million. EBITDA rose by 1.2% to CHF 261 million (previous year: CHF 258 million). The EBIT margin was thus 16.0% (13.0%), the EBITDA margin 21.4% (20.6%). These margins are ahead of those of all our international competitors.
Net sales in local currencies rose by 2.8% year on year, but weakness in the most important foreign currencies translated this into a decline of -2.5% when expressed in Swiss francs: CHF 1'221 million (as against the previous years figure of CHF 1'252 million). There were no changes to the scope of consolidation.
Despite extraordinarily difficult conditions in the capital markets, EMS fulfilled expectations in its net financial income: it ended the year as expected with a positive balance of CHF 19 million (CHF 66 million).
Net income for the year after deducting taxes and minority interests was thus CHF 161 million, slightly ahead of expectations (CHF 176 million).