Clariant reports strong progress in the first half of 2018
Clariant announced first half 2018 sales of EUR 2.9188 thousand millions compared to EUR 2.697 thousand millions in the first half of 2017.
This corresponds to 7 % growth in local currency and 8 % in Swiss francs. Sales growth was supported by organic growth contributions from all Business Areas, in particular Catalysis and Care Chemicals. Plastics & Coatings reported 3 % local currency growth against a strong comparable base.
EBITDA before exceptional items rose by 9 % and reached EUR 451,293 million compared to EUR 415.121 million in the previous year mainly supported by the performance in Care Chemicals, Catalysis and Plastics & Coatings. The corresponding EBITDA margin before exceptional items improved to 15.5 % primarily due to the profitability improvement in Care Chemicals.
Net income increased by 38 % in to EUR 181.723 million from EUR 131,770 million in the previous year. The higher EBITDA and significantly lower exceptional items supported this development.
Futher outlook
Clariant expects the good economic environment in mature markets, which represent a high comparable base, to continue. Emerging markets are expected to be supportive with Latin America showing signs of a recovery.
For 2018, 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.
