Clariant with a good start into 2016 - improved sales and increased profitability
(Thomson Reuters ONE) -
Clariant AG /
Clariant with a good start into 2016 - improved sales and increased
profitability
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The issuer is solely responsible for the content of this announcement.
* First quarter 2016 sales from continuing operations increased
3 % in local currencies to CHF 1.478 billion
* EBITDA margin before exceptional items improved to 15.5 % from 14.1 %
* 2016 outlook confirmed: continued progression in operating cash flow and
EBITDA margin before exceptional items
"Clariant had a good start into the year with solid sales growth and
profitability improvement," said CEO Hariolf Kottmann. "All our business areas
performed well in the current mixed global economic environment and
significantly expanded their EBITDA margins. This positive development in all
business areas was achieved by a positive mix effect in our higher margin
Business Areas as well as the first impact of the differentiated business
steering in Plastics & Coatings. For 2016, we are on track to achieve our
targets despite the continued challenging economic environment."
Key Financial Data
----------------------------------------------------------------
First Quarter
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in CHF million 2016 2015 % CHF % LC
Sales 1'478 1'465 1 3
EBITDA before exceptional items 229 206 11 16
- margin 15.5% 14.1%
----------------------------------------------------------------
First quarter 2016 - further improvement in profitability
Muttenz, 28 April 2016 - Clariant, a world leader in specialty chemicals, today
announced first quarter 2016 sales from continuing operations of CHF 1.478
billion compared to CHF 1.465 billion in the first quarter of 2015. This
corresponds to an increase of 3 % in local currencies. The sales growth was
driven by higher volumes.
Growth in the Americas was good, with sales in local currencies up 11 % in Latin
America and 4 % in North America. Europe was up 1 % in local currencies. Sales
in the Middle East & Africa grew by 5 % in local currencies.
Lower growth came from the region of Asia. Sales decreased by 1 % in local
currencies and were affected by a weak demand in China, which could not be
compensated by the stronger demand of smaller economies in Asia.
The improved sales came primarily from higher growth in the Business Areas Care
Chemicals and Plastics & Coatings.
In Care Chemicals sales in local currencies were up 7 %, reaching
CHF 411 million driven by strong growth especially in Latin America, Asia and
the Middle East & Africa. North America was behind the previous year's level due
to a weak de-icing business following a mild winter season. Overall, growth in
Care Chemicals primarily stemmed from Consumer Care Products.
Sales in Catalysis declined by 4 % in local currencies to CHF 136 million
primarily due to a decline in Asia (mainly in China) and Europe, which could not
be compensated by good growth in North America and the Middle East & Africa.
Adjusted for the Energy Storage business, which was sold in February 2015, sales
in Catalysis were stable year-on-year.
Sales in Natural Resources declined by 2 % in local currencies to CHF 292
million. There was good growth in Latin America and Asia. Nevertheless, this
could not offset the decline in the other regions. There was a decline in Oil
and Mining Services whereas Functional Minerals continued to grow.
In Plastics & Coatings, sales in local currencies grew by 4 % to CHF 639
million. The sales increase was experienced across all regions, but was
primarily driven by emerging markets.
EBITDA before exceptional items from continuing operations of Clariant reached
CHF 229 million, up 16 % in local currencies year-on-year.
The EBITDA margin before exceptional items increased to 15.5 %, well above the
previous year's level of 14.1 %. Though all Business Areas improved their
margins compared to the previous year, the major contributors to the margin
expansion came from the improvement in Plastics & Coatings as well as in Natural
Resources and was mainly driven by a positive mix effect and the impact of the
differentiated business steering in Plastics & Coatings.
Outlook 2016 - to progress EBITDA margin and operating cash flow
Clariant expects the uncertain environment, characterized by a high volatility
in commodity prices and currencies, to continue. In emerging markets, we
anticipate the economic environment to remain challenging and with increased
volatility; we expect moderate growth in the United States, while growth in
Europe is expected to remain stable but weak.
For 2016, in spite of the increasingly challenging economic environment,
Clariant is confident to achieve growth in local currencies, as well as
progression in operating cash flow 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
Carsten Seum Anja Pomrehn
Phone +41 61 469 63 63 Phone +41 61 469 67 45
carsten.seum(at)clariant.com anja.pomrehn(at)clariant.com
Claudia Kamensky Steven Massheder
Phone +41 61 469 63 63 Phone +41 61 469 68 58
claudia.kamensky(at)clariant.com steven.massheder(at)clariant.com
Q1 2016 Media Release DE:
http://www.clariant.com/Q1_2016_DE
Q1 2016 Media Release EN:
http://www.clariant.com/Q1_2016_EN
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Clariant AG via GlobeNewswire
[HUG#2007426]
Unternehmensinformation / Kurzprofil:
Datum: 28.04.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 467072
Anzahl Zeichen: 7132
contact information:
Town:
Muttenz 1
Kategorie:
Business News
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