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Definitive half-year report 2022 of the EMS Group

(Ad hoc announcement pursuant to article 53 KR)

29.08.2022

On July 15, 2022, the EMS Group published its provisional half-year report 2022. The definitive consolidated half-year report is now available, based on the individual financial statements of the affiliated companies as at June 30, 2022. The definitive half-year report shows no significant changes to the provisional report.

The EMS Group achieved consolidated net sales amounting to CHF 1,284 million (1,166), which is an increase of 10% compared to previous year.

While the first quarter of 2022 was characterized by a positive consumer mood and generally high demand, the global economy worsened significantly in the second quarter. Particularly in Europe, the Ukraine conflict caused great uncertainty among consumers and companies. Massively increased energy costs caused raw material prices to rise abruptly. In China, rigorous lockdown measures forced customers to production shutdowns. Overheated demand in the USA was slowed by rising interest rates. As expected, the continuing shortage of semiconductors prevented any recovery by the global automotive industry.

Thanks to a strong position with specialty products, EMS was able to achieve a net operating income (EBIT) of CHF 324 million (322) – an increase of 0.8% compared to previous year. The operational cash flow (EBITDA) rose to CHF 354 million (350). The EBIT margin reached 25.2% (27.6%), the EBITDA margin 27.5% (30.0%). Due to raw material cost-related sales price increases, sales developed more strongly than operating income.

Net financial income amounted to CHF +7 million (+4).

Net income for the first half of 2022 reached CHF 286 million (281).

Equity increased to CHF 2,077 million (31.12.2021: CHF 1,799 million). The equity ratio was 79.1% (31.12.2021: 77.4%).