-
Sales grew by 6 % in local currency and Swiss francs
to CHF 4.994 billion
-
EBITDA before exceptional items increased significantly by
7 %
-
EBITDA margin before exceptional items at a solid
15.3 %
-
2018
outlook confirmed
|
|
|
"In the
first nine months of the year, Clariant has delivered strong sales
and EBITDA", stated CEO Ernesto Occhiello. "Going forward, we will
focus on growth and cost awareness, while emphasizing to an even
greater extent customer-specific, technologically advanced
applications and enhancing operating efficiencies. In addition, the
implementation of the recently announced portfolio changes will
further fuel substantial profitability progression."
Key Financial Data
|
Third Quarter |
Nine Months |
in CHF Million |
2018 |
2017 |
% CHF |
% LC |
2018 |
2017 |
% CHF |
% LC |
Sales |
1 605 |
1 566 |
2 |
5 |
4 994 |
4 698 |
6 |
6 |
EBITDA before
exceptional items |
241 |
235 |
3 |
|
765 |
717 |
7 |
|
-
margin |
15.0 % |
15.0 % |
|
|
15.3 % |
15.3 % |
|
|
Nine Months 2018 - Growth progression
continues
Muttenz, October 31, 2018 - Clariant, a world leader in specialty
chemicals, today announced nine months 2018 sales of
CHF 4.994 billion compared to CHF 4.698 billion
in 2017. This corresponds to 6 % growth in local currency and
in Swiss francs which was supported by both higher volumes and
pricing. Contributions from all Business Areas bolstered the
6 % organic sales growth in local currency.
Most
regions contributed to the sales growth. Latin America reported the
strongest growth of 13 % in local currency. In Asia, sales
rose by a robust 9 % mainly driven by China and India. Sales
in North America grew by 6 % on the heels of strong expansion
during the same time period in 2017. In Europe, sales advanced by a
solid 4 %. Only the Middle East & Africa, the
Group's smallest geographic region, reported a slight sales
decrease of 3 %.
Care
Chemicals and Catalysis both reported continued brisk demand
momentum. Sales in Care Chemicals advanced by 9 % in local
currency driven by both Consumer Care and Industrial Applications.
Despite a high comparable bar, Catalysis sales climbed
significantly by 12 % in local currency with a good organic
sales growth of 8 %.
Natural
Resources reported 7 % higher sales in local currency which
reflects the improving oil environment. In
Plastics & Coatings, sales progressed by 3 % in
local currency despite a strong comparable base. All three Business
Units contributed to this progression.
EBITDA
before exceptional items rose by 7 % and reached
CHF 765 million compared to CHF 717 million in
the previous year. This improvement was driven by the positive
development in Care Chemicals and Plastics & Coatings.
The
corresponding EBITDA margin before exceptional items remained
robust at 15.3 %.
Third Quarter 2018 - Sales increase and EBITDA
improvement
In the
third quarter of 2018, sales rose by 5 % in local currency to
CHF 1.605 billion mainly due to price increases. Sales
growth in Swiss francs was 2 % given the adverse currency
impact in the quarter. The strong sales progression in Care
Chemicals and Natural Resources contributed most to this
advancement.
Most
geographic regions added to the growth. Sales in Latin America
progressed by 14 %, while North America and Europe both grew
sales by 5 %. Sales in Asia improved 3 % in local
currency year-on-year. China softened in the third quarter, but
continued to develop well against a strong comparable base in the
third quarter of 2017. Only the smallest region,
Middle East & Africa, reported a minor sales
contraction of 1 %.
Sales
in Natural Resources climbed by 14 % supported by a notable
demand uptake in the Oil & Mining Services business
and an ongoing positive development in Functional Minerals. In Care
Chemicals, sales rose by 8 % in local currency while Plastics
& Coatings grew sales by 2 % underpinned primarily by the
Pigments and Additives Business Units. Sales in Catalysis decreased
by 4 % against a record quarter in the same period in the
previous year.
EBITDA
before exceptional items rose by 3 % to
CHF 241 million primarily due to the strong contributions
from Care Chemicals and Plastics & Coatings. The
corresponding EBITDA margin before exceptional items remained at a
solid 15.0 %.
Outlook for 2018 - Continued progression in
growth, profitability improvement and operating cash flow
generation
Clariant expects the economic environment in mature markets, which
represent a high comparable base, to remain solid, albeit grow at a
slower pace. Emerging markets are expected to remain broadly
supportive.
For
2018, Clariant is confident to be able to achieve growth in local
currency, as well as progression in operating cash flow, absolute
EBITDA and EBITDA margin before exceptional items.
Going
forward, as announced in September, Clariant expects to improve its
performance as a result of further operational progression and the
accelerated reshaping of its portfolio through the divestment of
Pigments, standard Masterbatches and Medical Specialties as well as
the creation of the new Business Area High Performance
Materials.
Corporate Media Relations |
Investor Relations |
Jochen Dubiel
Phone +41 61 469 63 63
jochen.dubiel@clariant.com |
Anja Pomrehn
Phone +41 61 469 67 45
anja.pomrehn@clariant.com |
Thijs Bouwens
Phone +41 61 469 63 63
thijs.bouwens@clariant.com |
Maria Ivek
Phone +41 61 469 63 73
maria.ivek@clariant.com |
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us on Twitter, Facebook, Google Plus, LinkedIn. |
|
This media release contains
certain statements that are neither reported financial results nor
other historical information. This document also includes
forward-looking statements. Because these forward-looking
statements are subject to risks and uncertainties, actual future
results may differ materially from those expressed in or implied by
the statements. Many of these risks and uncertainties relate to
factors that are beyond Clariant's ability to control or estimate
precisely, such as future market conditions, currency fluctuations,
the behavior of other market participants, the actions of
governmental regulators and other risk factors such as: the timing
and strength of new product offerings; pricing strategies of
competitors; the Company's ability to continue to receive adequate
products from its vendors on acceptable terms, or at all, and to
continue to obtain sufficient financing to meet its liquidity
needs; and changes in the political, social and regulatory
framework in which the Company operates or in economic or
technological trends or conditions, including currency
fluctuations, inflation and consumer confidence, on a global,
regional or national basis. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this document. Clariant does not undertake
any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date of these materials. |
www.clariant.com
Clariant is a globally leading specialty chemicals company, based
in Muttenz near Basel/Switzerland. On 31 December 2017 the company
employed a total workforce of 18 135. In the financial year
2017, Clariant recorded sales of CHF 6.377 billion for its
continuing businesses. The company reports in four Business Areas:
Care Chemicals, Catalysis, Natural Resources, and Plastics &
Coatings. Clariant's corporate strategy is based on five pillars:
focus on innovation and R&D, add value with sustainability,
reposition portfolio, intensify growth, and increase
profitability. |
9M 2018 Press Release
english