Ems-Chemie with lower sales after nine months
Published: Wednesday, Oct 23rd 2024, 06:20
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Ems-Chemie can look back on a difficult year so far in 2024. It is characterized by cautious consumer sentiment and a strong Swiss franc. Nevertheless, the targets for the current year are confirmed.
Sales fell by 6.3 percent to 1.59 billion Swiss francs from January to September, as the company announced on Wednesday. Adjusted for currency effects, however, sales would only have fallen by 2.4 percent.
As expected, the global economy has developed cautiously and consumer sentiment has remained restrained, particularly in the sales markets of Europe and China. Inflation has also weakened purchasing power.
The most important European industrial nation, Germany, remains in recession and the manufacturing industry is still not showing any signs of recovery. There is also a continued lack of confidence in China and the real estate market there is undergoing a shakeout.
However, the sales offensive launched in 2023 and continuously intensified with profitable new business has been extremely successful, according to Ems. The operating result (EBIT) in the third quarter significantly exceeded the previous year's figure.
Outlook confirmed
Ems expects the global economy to remain weak in the coming months. However, the company is maintaining its current outlook.
Ems expects net sales for 2024 as a whole to be slightly below the previous year. The operating result (EBIT) is expected to remain slightly above the previous year. In 2023, Ems generated sales of CHF 2.19 billion and EBIT of CHF 493 million.
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