-
Sales for
the first nine months rose by 10 % in
local currency to CHF 4.698 billion
-
EBITDA before exceptional items
improved significantly by 10 %
-
EBITDA margin before
exceptional items increased to 15.3 %
-
2017 outlook
confirmed
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"Clariant continues to consistently and successfully deliver on its
strategy. With an excellent 10 % growth in both sales and
profitability in the first nine months of the year we are well on
track to achieve our targets," said CEO Hariolf Kottmann. "Our
achievements are based on innovation, sustainability and on the
endless commitment of our employees. Leveraging innovation
throughout our portfolio is also exemplified by today's
announcement of the commercialization of bio-ethanol with the
related licenses and enzymes. We expect mid double-digit million
sales potential from the sunliquid® cellulosic
ethanol production alone, a clear illustration of our innovation
competence in biotechnology. For 2017, we are confident that we
will achieve our targets, i.e. growth in local currency,
progression in operating cash flow, absolute EBITDA and EBITDA
margin before exceptional items in spite of a temporarily weaker
cash flow in the first half."
Key Financial Data
|
Third Quarter |
Nine Months |
in CHF million |
2017 |
2016 |
% CHF |
% LC |
2017 |
2016 |
% CHF |
% LC |
Sales |
1 566 |
1 400 |
12 |
12 |
4 698 |
4 299 |
9 |
10 |
EBITDA before
exceptional items |
235 |
208 |
13 |
12 |
717 |
652 |
10 |
10 |
-
margin |
15.0 % |
14.9 % |
|
|
15.3 % |
15.2 % |
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Nine Months 2017 - Further sales and profitability
improvement
Muttenz, October 31, 2017 - Clariant, a world leader in specialty
chemicals, today announced nine months 2017 sales of
CHF 4.698 billion, compared to
CHF 4.299 billion in 2016. This corresponds to a
10 % growth in local currency driven by contributions from all
Business Areas, with notable double-digit gains from Catalysis and
Natural Resources. Organic sales rose by 6 % in local
currency, as a result of higher volumes.
Growth
was strongest in North America and in the
Middle East & Africa, where sales in both
regions rose by 16 % in local currency. In Asia, sales
increased by 12 % supported by brisk growth in China and
Southeast Asia. Sales in Europe increased by a solid 8 %.
Latin America had a slight negative growth of 1 %, due to the
still challenging macroeconomic environment which, however, shows
signs of improvement.
Care
Chemicals and Catalysis both reflected ongoing strong expansion.
Sales in Care Chemicals rose by 9 % in local currency with
strong Consumer Care and Industrial Applications businesses.
Catalysis sales advanced by 19 %, with organic sales growth of
14 %.
Natural
Resources sales climbed by 18 %, mainly influenced by the 2016
Kel-Tech and
X-Chem acquisitions in North America. Organic sales in Natural
Resources grew by 3 %, driven by growth in Functional
Minerals. In Plastics & Coatings, sales advanced by
5 % with continuing expansion in all three Business Units
particularly in China.
EBITDA
before exceptional items climbed by 10 % in Swiss francs and
reached CHF 717 million, compared to
CHF 652 million in the previous year. The enhanced
profitability was primarily attributable to the upswing in
Catalysis and the continuing positive development in
Plastics & Coatings.
As a
result, the corresponding 15.3 % EBITDA margin before
exceptional items further advanced compared to the previous year's
15.2 %.
Third
Quarter 2017 - Continued sales and absolute EBITDA momentum
In the
third quarter of 2017, sales growth accelerated by 12 % in
local currency to CHF 1.566 billion. Organic sales
growth, excluding the impact of the acquisitions and the full
consolidation of the Süd-Chemie India Pvt Ltd joint venture, was up
9 % in local currency. This sales advancement was driven by
higher volumes.
From a
regional perspective, sales in North America grew by 22 % in
local currency. Excluding acquisitions, North American sales
improved significantly by 8 %. Sales in Asia advanced by
15 % in local currency, in the
Middle East & Africa by 25 % and in Europe
by 6 % in local currency. Latin American sales increased by
3 % despite the continued challenging economic
environment.
Care
Chemicals delivered a sales growth of 10 % in local currency
driven by higher volumes. Catalysis sales soared by 33 % with
strong 27 % organic growth. Natural Resources sales rose by
16 % lifted by acquisitions while organic sales increased by
3 % despite the one-time negative impact from tropical storm
Harvey. Plastics & Coatings improved by 7 % on
the back of strong Additives and Masterbatches.
EBITDA
before exceptional items rose by 13 % in Swiss francs to
CHF 235 million driven by the upswing in Catalysis, the
increase in Care Chemicals and the contribution from
Plastics & Coatings. The EBITDA margin before
exceptional items on a Group level increased accordingly to
15.0 % from 14.9 % in the previous year.
Outlook 2017 confirmed - Continued progression in
profitability and operating cash flow generation
Clariant expects the uncertain environment, characterized by a high
volatility in commodity prices, currencies as well as political
uncertainties, to continue. In emerging markets, we anticipate the
economic environment to remain unchanged; we expect growth in the
United States and in Europe to continue.
For
2017, in spite of a continued challenging economic environment,
Clariant is confident to be able to achieve growth in local
currency, as well as progression in operating cash flow, absolute
EBITDA and EBITDA margin before exceptional items.
Clariant confirms its mid-term target of reaching a position in the
top tier of the specialty chemicals industry. This corresponds to
an EBITDA margin before exceptional items in the range of 16 %
to 19 % and a return on invested capital (ROIC) above the peer
group average.
Corporate Media Relations |
Investor Relations |
Jochen Dubiel
Phone +41 61 469 63 63
jochen.dubiel@clariant.com |
Anja Pomrehn
Phone +41 61 469 67 45
anja.pomrehn@clariant.com |
Thijs Bouwens
Phone +41 61 469 63 63
thijs.bouwens@clariant.com |
Maria Ivek
Phone +41 61 469 63 73
maria.ivek@clariant.com |
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