EMS Chemie slumps on H1 sales miss

Ems Chemie Holding AG

12/07/2024 08:40

** Shares of Swiss nylon manufacturer EMS Chemie  EMSN.S 
fall around 7% to more than two-month lows after its H1 sales
missed expectations
    ** Net sales in the first half of the year declined 8.1% to
1.09 billion Swiss francs ($1.22 billion)
    ** "1H24 sales were weak and did not meet expectations,"
Vontobel says
    ** Baader Helvea says Q2 results missed its expectations of
a similar QoQ EBIT compared to Q1
    ** "We think the recent consensus upwards revision was
already anticipated by the market earlier on and therefore
results today should be below market expectations," the broker
says, as H1 EBIT came in 3.6% below its expectation
    ** Still, despite the day's losses, the stock is up 6.2%
this year
    
($1 = 0.8954 Swiss francs)

 (Reporting by Bartosz Dabrowski in Gdansk)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))