EMS
2020 revenues fall due to Covid-19 / Full-year operating margin stable at high level / 2021 operating income expected to improve
Full-year 2020 sales of polyamide specialist Ems (Domat / Switzerland; www.ems-group.com) dropped 16.3% to CHF 1.8 bn (EUR 1.66 bn), with nearly 5% of the decrease accounted for by the strong Swiss franc. Sales were pulled down during the first half by Covid-19, recovered in the third quarter, but jumped in the fourth quarter. No figures were provided for the October-December 2020 period. In the nine months to September, sales fell 22.6% to CHF 1.3 bn (see Plasteurope.com of 08.10.2020).

Operating income (EBIT) declined 17.4% to CHF 515m but Ems still managed to keep the margin stable at about 29%. Ems attributed this to its strong position in speciality products and measures taken at an early stage – it had initiated efficiency programmes in 2019, extremely cautious recruiting policies and cost cuts. Net income slumped 17.3% to CHF 440m. America and Asia increased their share of the CHF 48m total investments, which contracted from CHF 63m.

The High Performance Polymers division sales shrank 16.3% to CHF 1.596 bn while EBIT eased 17.1% to CHF 458m. At the Specialty Chemicals division, sales and EBIT plunged by 16.5% to CHF 206m and 19.7% to CHF 57m, respectively.

Ems’ business year 2021 started “well” and the order situation is “pleasing”. It expects a further economic recovery in the course of 2021 on the back of various economic stimulus programmes but anticipates temporary instability in global markets. It forecasts that sales and operating income will be higher than in 2020. It also said that raw-material shortages will make sales-price increases with customers inevitable.
16.02.2021 Plasteurope.com [246971-0]
Published on 16.02.2021
Ems-Gruppe: Weniger Umsatz und GewinnGerman version of this article...

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Date of print: 03.03.2021 06:23:36   (Ref: 937270413)
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