Swiss firm EMS' net sales at CHF 1,183 mn in H1 FY23

17 Jul '23

1 min read

Pic: EMS Group

Insights

In the first half of FY23, the Switzerland-based company EMS Group reported lower net sales and operating income at CHF 1,183 million and CHF 280 million, respectively.
However, it achieved a strong EBITDA margin of 25.9 per cent amidst lower sales and unfavourable forex conditions.
The firm anticipates FY23 sales and EBIT to be below 2022 levels.

Swiss-based EMS Group, a leading firm in high performance polymers and specialty chemicals, has reported net sales of Swiss franc (CHF) 1,183 million in the first half (H1) of fiscal 2023 (FY23), 7.9 per cent down from CHF 1,284 million the previous year. This represented a 1.9 per cent decrease in local currency terms.

The net operating income (EBIT) in H1 FY23 was CHF 280 million, compared to CHF 324 million during the same period the previous year, the company said in a press release.

Despite these setbacks, due to its robust positioning in the specialty segment and decisive actions, EMS succeeded in maintaining an EBITDA margin of 25.9 per cent, though lower than the previous year's 27.5 per cent.

The company’s H1 FY23 EBIT margin reached 23.7 per cent, compared to 25.2 per cent the previous year. The operating cash flow (EBITDA) came to CHF 306 million, a drop from the previous year's figure of CHF 354 million.

EMS forecasts net sales and net operating income (EBIT) for the entirety of 2023 to fall below the previous year's levels.

ALCHEMPro News Desk (DP)

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