(Reuters) -Swiss nylon maker EMS Chemie reported on Friday a 9.5% rise in 2024 net operating income (EBIT), despite a stronger Swiss franc, and said it would not be affected by proposed U.S. tariffs on imports from Europe.
“We will remain unaffected by the announced punitive tariffs,” EMS Chemie said, adding it had set up trade routes for raw materials and sales products ahead of potential international trade barriers.
The European chemical industry, which has long suffered from weak demand and high production costs, faces uncertainty as European leaders seek to dissuade U.S. President Trump from imposing tariffs on U.S. imports of European goods.
EMS Chemie, whose major markets are Germany and China and which has at least two sites in the U.S., posted a 2024 EBIT of 539 million francs ($595 million).
Despite higher volumes than in 2023, net sales decreased 5.4% to 2.07 billion francs due to a strengthening franc, the company said.
Net income was stable at 466 million francs.
The company forecast 2025 net sales below 2024’s level, impacted by currency effects, and EBIT to be slightly above 2024’s number.
The group proposed a dividend of 17.25 francs per share.
($1 = 0.9063 Swiss francs)
(Reporting by Alberto Chiumento in Gdansk. Editing by Milla Nissi and Mark Potter)
