6th September 2022
Daniel Pfund, Senior Financial Analyst
The EMS Group confirms the provisional results it published on July 15th for the accounting period from January 1st to June 30th. Sales for the first half of the year amounted to CHF 1,284 million, an increase of 10% compared to the same period last year. Operating profit was CHF 324 million, up 0.8% on the comparable period. This shows a significant deterioration of the operating margin in 2022. The operating margin deteriorated particularly in the second quarter due to widely known events such as the war in Ukraine, which unexpectedly increased the cost of energy products and raw materials. In addition, in China, multiple lockdowns dampened demand, and the U.S. was impacted by rising interest rates. Finally, the company also cites the lack of semiconductors in the automotive industry, which also dampened demand in that sector.