Clariant delivered strong Catalysts performance and stabilization in Care Chemicals in a continued challenging market environment
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
- Q3 2023 sales decreased by 8 % organically vs. Q3 2022 (13 % including scope) in local currency to CHF 1.031 billion; organic sales vs. Q2 2023 showed 2 % volume improvement in challenging markets
- Catalysts achieved volume growth and positive pricing; Care Chemicals showed stabilization; Additives business faced continuing weaker demand for durable goods
- Q3 2023 reported EBITDA margin decreased to 15.4 % vs. 16.8 % in Q3 2022; underlying improvement of 340 basis points vs. Q2 2023, driven by proactive cost measures and operational improvements
- 9M 2023 sales decreased by 7 % in local currency to CHF 3.315 billion
- 9M 2023 reported EBITDA margin decreased to 15.1 % vs. 16.9 % in 9M 2022
- Full Year 2023 outlook confirmed
"Our performance is improving, despite continued uncertainties and risks related to the geopolitical and economic environment. On a Group basis Clariant has delivered an underlying sequential quarterly increase of 21% in EBITDA. Organic Group volumes increased slightly compared to the previous quarter, although weak demand for durable goods persisted, which primarily affected our Additives business. Our proactive measures to adjust our cost base are improving profitability with over CHF 120 million of savings achieved to date out of our CHF 170 million commitment. This, together with our underlying performance improvement, underpinned our strong cash generation in the third quarter. In addition, we continue to see strong Catalysts performance, both in volume and pricing. Despite a continued soft recessionary environment and currency headwinds, we expect to land in our guidance range for 2023. Our focused specialty chemicals portfolio and our highly committed people leave us well-positioned for profitable growth as end markets recover" said Conrad Keijzer, Chief Executive Officer of Clariant.
Clariant published its Third Quarter / Nine Month Figures 2023 on 30 October 2023.
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