Clariant delivers resilient performance
- First quarter sales up 18% in local currencies and 13% in CHF, driven by acquisitions
- EBITDA margin before exceptional items at 12.1%, compared to 16.1% in the previous-year period, reflecting the expected soft start to 2012, with lower demand compared to the high basis of the previous year
- Continuing growth in non-cyclical businesses while cyclical and structurally challenged businesses faced similar trading conditions to Q4 2011, improving towards the end of the quarter
- Outlook for 2012 confirmed: Clariant expects further sales growth in local currencies and sustained profitability in 2012 as the global economy is expected to strengthen progressively in the course of the year.
CEO Hariolf Kottmann commented: “As expected, Clariant had a soft start into the year as the global economy stabilized. While the non-cyclical parts of the portfolio continued to perform well, the more cyclical businesses faced ongoing challenges in the current uncertain environment, especially in Europe. This is reflected in lower margins for the Group compared to an extraordinarily strong quarter one year ago. Going forward, we anticipate a gradual improvement in business conditions throughout the remainder of the year, which combined with further efficiency gains, will lead to an improved performance in the second half-year.”
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