Key figures Half-Year Report 2025 (January - June 2025) of the EMS Group

In the current market environment farsight is required!

The EMS Group, active worldwide in the business areas High Performance Polymers and Specialty Chemicals, and with its companies combined in the EMS-CHEMIE HOLDING AG, achieved net sales of CHF 1,020 million (1,087) and a net operating income of CHF 296 million (291) in the first half-year of 2025. Despite a geopolitically hampered environment, a weak industrial economy and a stronger Swiss Franc, EMS was able to generate pleasing new business and significantly increase profitability due to a consistent growth strategy with high-margin specialties and innovation. Net operating income closed at 1.4% above previous year, the margin increased to 29.0%.

As expected, the global economy cooled down further in the first half-year of 2025. Trade tensions and geopolitical conflicts subdued consumers and restrained their purchasing mood and willingness to invest. In the US, consumers and companies are delaying investments with the expectation of higher inflation rates. In Europe, the industry is undergoing restructuring. Higher state expenditure is generating some confidence, however. The local healthcare segment is developing remarkably well. In China, in particular the high-tech sector is growing, especially business with electric vehicles. Government stimulus packages are improving the consumer mood. The generally unstable global situation is further strengthening the Swiss Franc in its role as a "safe haven".

Despite the expected weaker global economy, EMS was able to successfully grow result and margins with innovation, cost discipline and proactive planning. In the currently dampened and unsettled market environment, EMS focuses even more consistently on growth with innovative specialties. Against the general trend, EMS decided to significantly expand the technical sales and development organizations in the main regions Asia, America and Europe. Meanwhile, the expansion programs are already generating pleasing and highly profitable new business. EMS' intensive local development partnerships, strong sales and global delivery capabilities are important pillars for the realization of cost improvements as well as energy and weight savings with customers. Along with an enhanced product mix, EMS is also pursuing efficiency improvements. Successfully implemented efficiency programs strengthened operative profitability.

EMS has already prepared in advance for international trade barriers and structured its own supply chains accordingly. At EMS, there are no direct trade relationships between China and the US. Products sold in the US are either produced locally or, being relevant specialties, exempt from duties.

Thanks to the strong position with specialties and improved efficiency, EMS was able, in a challenging market environment with weaker foreign currencies, to achieve a net operating income (EBIT) of CHF 296 million (291) and a net operating income before depreciation (EBITDA) of CHF 323 million (319). In this way, the EBIT was 1.4% above previous year, the EBITDA 1.3%. The EBIT margin closed at a high 29.0% (26.8), the EBITDA margin at 31.7% (29.4). 

At the Annual General Meeting of EMS-CHEMIE HOLDING AG on August 9, 2025, all current members of the Board of Directors and of the Remuneration Committee will be proposed for re-election. The BDO AG, Schiffbaustrasse 2, 8031 Zürich will be proposed as statutory auditor. As already announced on February 7, 2025, the Board of Directors will propose to the Annual General Meeting payment of a total dividend of CHF 17.25 (16.00) per share.

For 2025 as a whole, EMS is expecting a continuingly challenging economic environment. The trade conflicts will interfere with global trade and supply chains, unsettling both consumers and companies equally. In the US, economic growth is slowing due to expected higher inflation rates. In Europe, structural improvements need time. The unsolved customs disputes are dampening the general business mood. China is focusing on consumer stimuli to compensate missing US-business and on a self-sufficient supply. 

EMS will continue its sales offensive and the successful growth strategy with specialties. With its distinct innovation strategy, providing customers with total costs, energy, weight and CO₂ savings and enabling them to achieve technologically leading solutions, EMS is assuming a key role in the various markets. EMS has no debt and shows a very high equity ratio. Its innovative agility, its financial solidity and high result margins will further enable EMS to generate above-average results.

For 2025, EMS continues to expect net sales below previous year due to currency effects, and net operating income (EBIT) slightly above previous year.