Clariant AG

Clariant confirms outlook on solid Q2 results

Clariant AG / Clariant AG: Clariant confirms outlook on solid Q2 results . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

• Sales from continuing operations rose 6% in local currencies. In Swiss francs, sales decreased 1% to CHF 1.53 billion from CHF 1.54 billion in the second quarter 2013
• Strong volume growth offset by unfavorable currency effects
• EBITDA margin before exceptional items increased to 14.0% compared to 13.7%
• Net result from continuing operations improved to CHF 83 million from CHF 71 million
• Outlook confirmed: For full-year 2014, Clariant expects low to mid-single-digit sales growth in local currencies and an EBITDA margin before exceptional items above full-year 2013

 

"The first half-year 2014 was characterized by a more favorable but still volatile and challenging business environment compared to the previous year," said CEO Hariolf Kottmann. "Under these conditions, Clariant achieved good volume growth in both the first and the second quarter, supported by solid pricing. With unfavorable currency developments expected to soften, the strength of our portfolio makes us cautiously optimistic going into the second half of the year."

 

Key Financial Data

Continuing operations:	Second quarter				First half-year
in CHF million	2014	2013	% CHF	% LC	2014	2013	% CHF	% LC
Sales	1 531	1 544	-1	6	3 023	3 070	-2	5
EBITDA before exceptional items	214	211	1	9	424	420	1	9
- margin	14.0%	13.7%			14.0%	13.7%
EBIT before exceptional items	145	144	1	9	285	285	0	10
- margin	9.5%	9.3%			9.4%	9.3%
EBIT	128	111	15	30	169	230	-27	-14
Net result from continuing operations	83	71			44	109
Net income1	74	79			26	129
Operating cash flow1	-62	-41			-113	-113
Number of employees1					16 991	18 099*
Discontinued operations
Sales	32	451			98	872
Net result from discontinued operations	-9	8			-18	20

¹ Total Group including discontinued operations

* As of 31 December 2013

Second quarter 2014 - Higher volumes continued to drive growth

Muttenz, 30 July 2014 - Clariant, a world leader in specialty chemicals, today announced second quarter 2014 sales from continuing operations of CHF 1.531 billion compared to CHF 1.544 billion in the second quarter of 2013, equivalent to sales growth of 6% in local currencies. The organic sales growth of 6% was the result of 5% higher volumes and average sales price increases of 1%.