Clariant AG

Clariant achieves 8 % sales growth in a softening economic environment

Clariant AG / Clariant AG: Clariant achieves 8 % sales growth in a softening economic environment . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

• Sales from continuing operations rose 8 % in local currencies. In Swiss francs, sales increased 4 % to CHF 1.51 billion from CHF 1.44 billion in the third quarter of 2013
• Strong volume growth and higher sales prices overcompensated a still unfavorable currency effect
• EBITDA before exceptional items up 8 % in local currencies, margin at 14.0 % compared to 14.1 %
• Net result from continuing operations at CHF 58 million compared to CHF 129 million, due to higher taxes and a favorable one-time item in 2013
• Outlook: For full-year 2014, Clariant expects around mid-single-digit sales growth in local currencies and an EBITDA margin before exceptional items above full-year 2013

 

"In the first nine months Clariant's well-balanced, growth-oriented portfolio achieved above-market growth in a softening global economic environment," said CEO Hariolf Kottmann. "Volumes were strong and prices firm despite uneven developments in industries, end-markets and regions. While we expect those challenges to persist in the fourth quarter, we are confident of reaching our targets for 2014, including substantial cash flow generation in the remainder of the year."

 

Key Financial Data

Continuing operations:	Third quarter				Nine months
in CHF million	2014	2013	% CHF	% LC	2014	2013	% CHF	% LC
Sales	1 507	1 443	4	8	4 530	4 513	0	6
EBITDA before exceptional items	211	203	4	8	635	623	2	9
- margin	14.0 %	14.1 %			14.0 %	13.8 %
EBIT before exceptional items	141	132	7	12	426	417	2	10
- margin	9.4 %	9.1 %			9.4 %	9.2 %
EBIT	122	147	-17	-13	291	377	-23	-13
Net result from continuing operations	58	129			102	238
Net income1	59	-204			85	-75
Operating cash flow1	126	153			13	40
Number of employees1					16 936	18 099*
Discontinued operations
Sales	0	443			98	1 315
Net result from discontinued operations	1	-333			-17	-313

¹ Total Group including discontinued operations