EMS CHEMIE : Financial report 2022

EMS Group Finance Report 2022

Contents

EMS Group

Share Performance ........................................................................ 1

Key Figures 2018 - 2022 ................................................................ 2 Consolidated Income Statement and

Consolidated Statement of Comprehensive Income ...................... 3

Consolidated Balance Sheet .......................................................... 4

Consolidated Statement of Changes in Equity ............................... 5

Consolidated Statement of Cash Flows ......................................... 6

Notes to the Consolidated Financial Statements ........................... 7 Statutory auditor's report on the audit

of the Consolidated Financial Statements .................................... 31

The original Annual Report is written in German. In case of inconsistencies between the German and this English version, the German version shall prevail.

EMS Group Finance Report 2022

Share Performance

2022	2021	2020	2019	2018
Number of registered shares	23'389'028	23'389'028	23'389'028	23'389'028	23'389'028
Shares entitled to dividend	23'389'028	23'389'028	23'389'028	23'389'028	23'389'028
Treasury shares	0	0	0	0	0
Information per share (in CHF):
Dividend per share	20.00 1)	21.00	17.00	20.00	19.75
Of which ordinary dividend	15.75	16.50	13.00	15.60	15.50
Of which extraordinary dividend	4.25	4.50	4.00	4.40	4.25
Earnings per share	22.75	23.53	18.57	22.54	22.22
Cash flow per share 2)	25.02	26.01	21.12	25.01	24.61
Equity per share 3)	77.63	76.91	68.32	71.09	69.48
Stock prices 4)
High	1'046.00	1'035.00	880.00	646.50	691.00
Low	591.50	793.50	496.60	458.00	447.60
At December 31	626.00	1'021.00	853.00	636.50	467.00
Market capitalisation on
December 31 (CHF millions)	14'641.5	23'880.2	19'950.8	14'887.1	10'922.7

Registered shares are listed on the SIX Swiss Exchange.

Security numberEMS-CHEMIE

1.644.035

ISIN CH0016440353

Investdata / Reuters EMSN

1)	Proposal of the Board of Directors.
2)	Cash flow = net income plus write-downs on intangible assets, property, plant and equipment
3)	Excluding non-controlling interests.
4)	Source: SIX Swiss Exchange AG.

EMS Group Finance Report 2022

Key Figures 2018 - 2022
CHF millions	2022	2021	2020	2019	2018
Net sales revenue	2'441.9	2'253.8	1'802.3	2'152.7	2'318.3
Change in % versus previous year	+8.3%	+25.1%	-16.3%	-7.1%	+8.0%
Change in local currencies	+12.6%	+24.6%	-4.8%	-2.1%	+6.4%
Of which in Switzerland	4.0%	3.8%	4.0%	3.7%	3.4%
Net operating income (EBIT)	611.1	640.3	515.1	623.7	620.2
Change in % against previous year	-4.6%	+24.3%	-17.4%	+0.6%	+6.6%
In % of net sales revenue	25.0%	28.4%	28.6%	29.0%	26.8%
Net financial income	-4.5	1.0	-4.4	-3.5	-2.0
Income taxes	71.7	88.5	71.1	88.4	95.8
Net income	534.9	552.9	439.7	531.9	522.3
Change in % against previous year	-3.3%	+25.8%	-17.3%	+1.8%	+7.8%
In % of net sales revenue	21.9%	24.5%	24.4%	24.7%	22.5%
Cash flow 1)	585.3	608.3	494.0	584.9	575.5
Change in % against previous year	-3.8%	+23.1%	-15.5%	+1.6%	+7.1%
In % of net sales revenue	24.0%	27.0%	27.4%	27.2%	24.8%
Investments	94.0	79.9	48.3	62.9	60.2
In % of cash flow	16.1%	13.1%	9.8%	10.8%	10.5%
Balance sheet total	2'316.0	2'324.7	2'077.5	2'213.3	2'157.6
Assets
Current assets	1'570.6	1'622.8	1'399.5	1'547.7	1'517.9
Non-current assets	745.4	701.9	678.0	665.6	639.7
Equity and liabilities
Current liabilities	373.8	380.2	290.7	351.9	365.2
Non-current liabilities	97.8	116.1	162.6	175.8	147.8
Equity 2)	1'815.8	1'798.9	1'597.8	1'662.7	1'625.1
Balance sheet equity ratio	78.4%	77.4%	76.9%	75.1%	75.3%
Return on equity	29.3%	30.6%	27.2%	31.7%	32.0%
Number of employees on December 31 3)	2'693	2'646	2'521	2'648	2'939

1)	Cash flow = net income plus write-downs on intangible assets, property, plant and equipment
2)	Excluding non-controlling interests.
3)	Excluding apprentices (2022: 136, 2021: 134; 2020: 132; 2019: 129; 2018: 136).

EMS Group

Consolidated Financial Statements

Finance Report 2022

Consolidated Income Statement

2022	2021
Notes	(CHF '000)	(CHF '000)
Net sales revenue from goods and services	2'441'909	2'253'846
Inventory changes, semi-finished and finished goods	132'963	69'264
Capitalised costs and other operating income	1	33'178	28'887
Material expenses	(1'581'670)	(1'308'594)
Personnel expenses	2	(246'369)	(236'169)
Other operating expenses	3	(118'517)	(111'467)
EARNINGS BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (EBITDA)	661'494	695'767
Depreciation and amortisation	8, 24	(50'424)	(55'436)
NET OPERATING INCOME (EBIT)	611'070	640'331
Financial income	5	905	2'261
Financial expenses	6	(5'426)	(1'239)
NET INCOME BEFORE TAXES	606'549	641'353
Income taxes	7	(71'694)	(88'476)
NET INCOME	534'855	552'877
Of which attributable to:
Shareholders of EMS-CHEMIE HOLDING AG	532'100	550'320
Non-controlling interests	18	2'755	2'557
Earnings per share in CHF:
Basic	26	22.75	23.53
Diluted	26	22.75	23.53
Consolidated Statement of Comprehensive Income
Net income recognised in income statement	534'855	552'877
Actuarial gains from defined benefit pension plans,
net of tax	812	34'812
Items that will not be reclassified to income statement, net of tax	812	34'812
Net changes from cash flow hedges,
net of tax	15	4'228	24'664
Currency translation differences	(31'022)	(10'228)
Items that are or may be reclassified to profit or loss	(26'794)	14'436
Other comprehensive income	(25'982)	49'248
COMPREHENSIVE INCOME	508'873	602'125
Of which attributable to:
Shareholders of EMS-CHEMIE HOLDING AG	508'011	598'750
Non-controlling interests	18	862	3'375
Reference numbers indicate corresponding Notes to the Consolidated Financial Statements.