Clariant progresses while global economy deteriorates further
- Stable profitability in the core business es despite pronounced economic weakness in Europe . Good progress in portfolio management and the integration of Süd - Chemie.
- Q3 2012 sales increased 3 % to CHF 1.923 billion from CHF 1.865 billion in Q3 2011.
- EBITDA before exceptionals fell 7 % to CHF 201 million from CHF 216 million in Q3 2011, affected by lower volumes and investments into growth.
- Cash flow from operations rose to CHF 181 million, compared to CHF 127 million in Q3 2011.
- For the full - year 2012, Clariant expects flat sales growth in local currencies and a n EBITDA margin before exceptionals s lightly ahead of the level after nine months.
CEO Hariolf Kottmann: “Given the further deterioration of the global economy, in which slower emerging markets growth could not offset anymore a weakening in Europe, Clariant achieved a solid performance in the last three months. This was driven by a stable development of most core businesses, manifesting the consequent execution of our profitable growth strategy. Although the short-term economic challenges are expected to persist, Clariant’s mid-term guidance until 2015 remains intact.”
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