EMS Chemie seen down on 2022 EBIT guidance cut

Ems Chemie Holding AG

23/11/2022 07:58

** Shares of EMS Chemie  EMSN.S  are seen down 3.3%
pre-market after the Swiss nylon maker cut full-year earnings
guidance amid worsening economic outlook
    ** The company now expects slightly lower 2022 EBIT than the
previous year's record values, against earlier forecast for a
slight growth
    ** "Negative overall," Vontobel says, noting the reduction
of inventories by EMS' customers is a clear sign of worsening
markets
    ** Baader Helvea says demand from automotive customers
worsened in September and destocking from nearly all
end-customer industries in Q4 might be more brutal than expected
 (Reporting by Bartosz Dabrowski in Gdansk)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))