Kepler cuts Ems Chemie as trade war affects key automotive end market

Ems Chemie Holding AG

18/03/2025 12:26

** Kepler Cheuvreux cuts Ems Chemie EMSN.S to "reduce" from "hold", saying the escalating trade war is worrisome for the automotive end market, which makes up around 64% of the Swiss nylon maker's sales

** Kepler sees a heightened risk that the company will have to cut its guidance from positive to flattish 2025 volume growth, possibly as soon as in its H1 report in July

** It also expects EBIT growth target to be "toned down to low single-digit growth"

** The broker estimates Q1 organic sales to decline 4% and expects the company to maintain its "vague" 2025 outlook for now

** Out of eight analysts that cover Ems Chemie, ​one rates it "strong buy", five "hold" and two​ "strong sell" or "sell"

 (Reporting by Tiago Brandao)

 ((Tiago.Brandao@thomsonreuters.com;))