Clariant continues on profitable growth path in 2013

February 19, 2014 |

In Switzerland, Clariant reported its full-year 2013 results, with sales growth from continuing operations at 4% in local currencies, to CHF 6.08 billion from CHF 6.04 billion in full-year 2012. The company’s EBITDA margin before exceptional items reaches 14.1% compared to 13.5%. The 4% organic sales growth was almost entirely driven by higher volumes. Full-year operating cash flow reached CHF 301 million compared to CHF 468 million in 2012

The regional sales performance in local currencies was predominantly positive but heavily shaped by unfavorable currency effects in 2013, mainly from depreciating emerging market currencies against the Swiss franc.

Clariant posted strong growth of 16% in local currencies in Latin America. Sales in Asia increased 3% in local currencies on the back of a 10% sales growth in the key China market. In North America a recovery of industrial demand and favorable weather conditions led to 6% higher sales in local currencies. In Europe, a stable performance in Germany, double-digit growth in Eastern Europe and a slight recovery in the southern European countries resulted in 2% higher sales in local currencies. Sales in the Middle East & Africa region were 14% lower year-on-year in local currencies, mainly due to a softer Catalysts business and lower sales in the Water Treatment and Oil & Mining Services businesses.

“Clariant has made good progress in 2013. The unfolding operational strength of the company became visible in a challenging economic environment. After the divestment of several businesses, Clariant is now a more profitable, less cyclical and well-balanced specialty chemicals player,” said CEO Hariolf Kottmann. “2014 will be a year of organic growth in the four Business Areas. This will bring us closer to our mid-term target to position Clariant in the top-tier of the specialty chemicals industry, characterized by an EBITDA margin before exceptionals between 16% and 19% in 2015 and beyond.”

Category: Fuels

Thank you for visting the Digest.