Hold: BUZZ-EMS Chemie slides on 'disappointing' outlook

Ems Chemie Holding AG

09/02/2024 10:29

** Shares in EMS Chemie  EMSN.S  fall around 3% after its
2024 outlook, which it provided alongside its full-year results,
came in short of expectations
    ** "The outlook for 2024 is cautious and below expectations,
which is disappointing," says Vontobel's analyst Sibylle
Bischofberger
        ** The nylon maker expects 2024 net sales to be in line
with the 2.19 billion Swiss francs ($2.50 billion) it reported
for 2023, with EBIT slightly higher than the 2023's figure of
493 million
  
    ** Results show that EMS has a specialty product portfolio
less affected by the difficult market situation and that
management is managing the company prudently, but cannot escape
market developments, Bischofberger says


($1 = 0.8745 Swiss francs)

 (Reporting by Paolo Laudani)
 ((Paolo.Laudani@thomsonreuters.com))