-
Sales increased by 2 % in
local currency to CHF 1.715 billion
-
EBITDA after exceptional items
was CHF 236 million
-
EBITDA margin after exceptional
items was 13.8 %
-
Outlook reiterated:
above-market growth, higher profitability and stronger cash
generation
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"In the first three months of this
year, Clariant delivered continued organic sales growth despite the
challenging macroeconomic environment," said Ernesto Occhiello, CEO
of Clariant. "Our focus on customer experience and fast, reliable
customer fulfillment is particularly noticeable in the progression
of the Business Areas Care Chemicals, Catalysis and Natural
Resources. Despite Plastics & Coatings being negatively
impacted by the current economic and business environments, we are
confident in our ability to progress throughout the year. We will
continue to identify and address the next challenges and future
demands of our customers, leading to above-market growth, higher
profitability and stronger cash generation."
Key Financial Data
|
|
First Quarter |
in CHF million |
|
|
|
|
2019 |
2018 |
% CHF |
% LC |
Sales |
|
|
|
|
1 715 |
1 722 |
0 |
2 |
EBITDA before
exceptional items |
|
|
|
|
254 |
268 |
-5 |
|
- margin |
|
|
|
|
14.8 % |
15.6 % |
|
|
EBITDA after
exceptional items |
|
|
|
|
236 |
256 |
-8 |
|
-
margin |
|
|
|
|
13.8 % |
14.9 % |
|
|
First Quarter
2019 - Higher local currency sales and improved profitability at
Care Chemicals and Catalysis
Muttenz, April 30, 2019 -
Clariant, a focused and innovative specialty chemical company,
today announces first quarter 2019 sales of
CHF 1.715 billion compared to CHF 1.722 billion
in the first quarter of 2018. This corresponds to a good 2 %
organic growth in local currency, driven by higher pricing in all
Business Areas versus a high comparison base.
On a regional basis, the sales
development in Latin America, Europe and the Middle
East & Africa all reflected single-digit growth in
local currency. Both North America and Asia reported slightly
negative growth of 1 %. The continued weaker demand in China
negatively influenced the Group sales development in the first
quarter.
The improved sales performance in
the first quarter of 2019 resulted from expansion in the Business
Areas Care Chemicals, Catalysis and Natural Resources. Sales in
Care Chemicals increased by 2 % in local currency although
they were unfavorably impacted by the Aviation business due to the
mild weather. Excluding Aviation, Care Chemicals sales rose in good
mid-single digits in local currency. This growth was primarily
driven by an excellent Consumer Care development. Catalysis sales
grew by a good 4 % in local currency compared to a record
first quarter in the previous year. Natural Resources sales
accelerated by 10 % in local currency, mainly lifted by good
Oil & Mining Services demand but also solid growth in
Functional Minerals.
In
Plastics & Coatings, sales declined by 2 % in
local currency, largely as a result of the weaker than anticipated
automotive and plastics markets as well as the further economic
slowdown, particularly in China. However, the underlying demand in
China remains solid and Clariant expects to see a gradual
improvement throughout the remainder of 2019.
The newly reported EBITDA after
exceptional items reached CHF 236 million with a
corresponding margin of 13.8 %. The 8 % lower absolute
EBITDA after exceptional items is the result of weaker
profitability in Plastics & Coatings and higher
project costs relating to Clariant's step change into higher value
specialties announced in September 2018. The work on the respective
projects is progressing well. Care Chemicals and Catalysis both
reported a significant positive progression year-on-year, while
Natural Resources also delivered a sound profitability improvement
quarter-on-quarter as anticipated.
Outlook 2021
- Above-market growth, higher profitability
and stronger cash generation
Clariant is a focused and
innovative specialty chemical company. We aim to provide more than
just customer-oriented products. We strive to provide the best
customer experience and fast, reliable customer fulfillment in the
industry by setting the right priorities.
Our aim is to make our customers
more successful. We therefore constantly focus on timely and
rewarding innovations, products that are difficult to imitate,
sustainability, agility as well as ethical practices. We will only
be satisfied with the highest level of excellence in every function
within the Group. Our success will be realized through the
execution of our strategy.
We confirm our 2021 guidance to
achieve above-market growth, higher profitability and stronger cash
generation.
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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Q1 2019 Media Release EN