Clariant AG

Reshaped Clariant increases profitability in the fourth quarter

Clariant AG / Clariant AG : Reshaped Clariant increases profitability in the fourth quarter . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

• Repositioning of portfolio well underway with an agreement to divest three businesses already signed.
• Continuing operations with full-year sales growth of 8% to CHF 6.04 billion and an EBITDA* margin of 13.3% on solid development in the core businesses.
• Net result from continuing operations of CHF 211 million due to strong fourth quarter.
• Dividend increase of 10% to CHF 0.33 per share proposed.
• For full-year 2013, Clariant expects a further progress in sales and profitability compared to 2012 by focusing on growth and continuous cost efficiency.

 

CEO Hariolf Kottmann: "Clariant achieved solid results in a demanding year, with the majority of businesses performing well. In most regions the company continued on a robust growth path. In Europe, the economic weakness affected some of the more cyclical businesses. Concerning the repositioning of Clariant, the company has made good progress. Five businesses have been reclassified as discontinued operations and an agreement to divest three of those businesses has already been signed. The focus in 2013 will now be on growing the remaining seven core businesses. Combined with continuous cost efficiency, the reshaped Clariant is well positioned to achieve its 2015 targets."

 

Key Financial Data

Continuing operations:	Fourth Quarter				Full Year
In CHF million	2012	2011	%CHF	%LC	2012	2011	%CHF	%LC
Sales	1 509	1 491	1	2	6 038	5 571	8	8
EBITDA before exceptional items	225	213	6	3	802	835	-4	-5
- margin	14.9%	14.3%			13.3%	15.0%
EBIT before exceptional items	152	149	2	-3	531	624	-15	-16
- margin	10.1%	10.0%			8.8%	11.2%
EBIT	100	22	355	309	396	432	-8	-11
Net result from continuing operations	87	11			211	220
Net income1	99	10			238	251
Operating cash flow 1,2	284	200			468	314
Number of employees 1					21 202	22 149
Discontinued operations:
Sales	427	427			1 744	1 799
Net result from discontinued operations	12	-1			27	31

¹ Total group, including discontinued operations