EMS H1 FY20: sales CHF 849 mn; operating income CHF 229 mn

10 Jul '20

1 min read

Pic: EMS Group

The EMS Group, a Switzerland-based high-performance polymers and specialty chemicals company, has announced provisional result with sales of CHF 849 million (Swiss franc) in first half (H1) FY20 ended in June 2020 compared to sales of CHF 1,154 million in same period last year. Group’s operating income during H1 fell to CHF 229 million (CHF 316 million).

The group stated in the press release that the global economy was very heavily impacted by national Covid-19 measures. The majority of shops and shopping centres remained closed for several weeks. In many parts of the world, the general demand for industrial consumer goods came to an almost complete standstill. The global automotive industry was also affected and slumped 33 per cent in the first six months of FY20 compared to previous fiscal.

EMS continued to develop new and innovative specialty products. EMS gained EBITDA (earnings before interest, taxes, depreciation, and amortisation) of CHF 256 million (CHF 345 million).

High performance polymers sales for the period decreased 26.8 per cent to CHF 744 million (CHF 1,016 million). Sales of Specialty chemicals dropped 23.9 per cent to CHF 105 million (CHF 138 million).

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