EMS-GRIVORY The leading manufacturer of high-performance polyamides

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Third-quarter report 2019 (January - September 2019) of the EMS Group

- Economic downturn affects positive course of business

- Successful development of new business

- Early efficiency programmes secure result

24.10.2019

The EMS Group, with its companies combined in the EMS-CHEMIE HOLDING AG and globally active in the business areas High Performance Polymers and Specialty Chemicals, achieved net sales of CHF 1,674 million (1,770) in the first nine months of 2019.

Following a progressive slowing of the global economy during the first half of the year, it weakened even further during the 3rd quarter of 2019. Unresolved and repeated trade conflicts between major powers lowered consumers' and companies' confidence and global supply chains were unsettled. Subsequently, a significant worsening of the consumer and investment mood became apparent especially in China and Europe, while first signs of uncertainty in the USA could also be noticed. Particularly during the summer months, companies along the whole supply chain reduced production and inventory stocks. The automotive industry in China continued to show a substantial decline. As a result of this uncertainty, the Swiss Franc, as "Safe Haven", became stronger, in particular compared to the Euro.

EMS prepared particularly early and consistently for a slowing of the economy. Already at the beginning of 2018, comprehensive efficiency programmes were drawn up and fully implemented. Along with on-going development projects, EMS also launched a fast-track programme for additional new business. Employees in research, development and sales voluntarily increased their working hours.

Due to innovative new business with its strong speciality products and its early and decisive actions, EMS was able to secure net operating income.

Overall for 2019, EMS continues to expect net operating income (EBIT) at the same level as previous year.

The complete third-quarter report can be downloaded via the following link:

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