8-Months Report 1997 of the EMS Group

With its companies combined in EMS-CHEMIE HOLDING AG, the EMS-Group, which operates worldwide in the fields of Engineering Polymers, Fine Chemicals and Engineering, increased its consolidated net sales by 13,8 % to CHF 684 million (previous year, same period: CHF 601 million) in the first 8 months of 1997. The operating cash flow was also up by 36,4 % to CHF 161 million (CHF 118 million), as was the operating income, which rose by 45,3 % to CHF 125 million (CHF 86 million).

The scope of consolidation has changed slightly as a consequence of the joint venture between EMS-TOGO and H.B. Fuller (USA), which began on 1 April 1997. This development means that EMS-TOGO's American operations will no longer be consolidated with effect from 1 April 1997. The impact of this is, however, insignificant: measured against the same consolidated group, the growth in sales is 15,7 %, and the improvement in operating income is 43,5 %.