Switzerland's EMS Group posts net sales of CHF 2,442 million in FY22

The operational cash flow (EBITDA) in FY22 amounted to CHF 661 million. While customer orders in 2021 reflected the backlog demand and stocks were built up strongly throughout the whole supply chain, in 2022, customers followed the weakening economy, reducing stocks to gain liquidity and ordering extended holiday closures.

Net profit in FY22 was CHF 535 million which corresponds to the second highest result in company history. Earnings per share amounted to CHF 22.75, the company said in a press release.

For the financial year 2023, EMS is expecting a subdued economy. In particular in the first half-year, economic development may still be very moderate due to the COVID-19 situation in China and the restrained consumer mood in Europe. Geopolitical conflicts, open energy issues, and repeated increases in interest rates to counter inflation are having a dampening effect on economic development.

EMS will continue to follow the successful strategy of growth with specialties in the main area of high-performance polymers. The proven innovation strategy with ongoing development of new business will be continued. The excellent market position also allows current chances in the market to be made use of quickly and flexibly.

For 2023, EMS is expecting net sales and net operating income (EBIT) very slightly higher than in the previous year.

The company has announced that Urs Janssen, since 2019 business unit leader EMS-services and plant manager at Domat/EMS, will join executive management of the EMS Group as per March 1, 2023. His previous responsibility will be taken over by Didier Grichting, who will join the EMS Group on March 1, 2023. Oliver Fluhler, member of executive management and CFO since May 16, 2022, will take up a new challenge outside the EMS Group as per the end of March 2023. Peter Germann, member of executive management and CFO of the EMS Group until 2017 will assume responsibility as CFO ad interim.

Fibre2Fashion News Desk (DP)