The more notable decrease in North America is ascribable to lower volumes in Natural Resources. Latin America increased local currency sales in double digits. Sales in Latin America decreased slightly, while Europe declined in high single digits, followed by the Middle East & Africa. Clariant’s Board of Directors has set the ex-date to 6 July 2020, the record date to 7 July 2020, and the payment date of the extraordinary distribution will be 8 July 2020.
As a result of the COVID-19 pandemic, the Group was confronted with a significantly lower demand environment in several segments in the first nine months of 2020.
However, on a like-for-like basis, excluding Healthcare Packaging sales from the first half of 2019, as this business was divested in October 2019, sales weakened only by a slight 3 % in local currency.
Excluding the efficiency program provision in Natural Resources in the second quarter, the underlying profitability remained largely unchanged, underpinned by stringent cost management in all three Business Units.
The needs of our employees – by adhering to our company values. The Group has swiftly installed task forces focusing on employee safety, community support, assuring business continuity and cash generation. This clearly confirms the validity of our strategic decision to focus on Clariant’s three core specialty Business Areas,” said Hariolf Kottmann, Executive Chairman ad interim of Clariant.
Clariant anticipates a continued negative impact on sales and profitability from the COVID-19 pandemic in the third quarter of 2020.
Clariant anticipates that the COVID-19 pandemic will have a continued, but slightly less negative impact on sales and profitability in the fourth quarter of 2020 compared to the third quarter. Natural Resources sales declined by 11 % in local currency, due to lower volumes in Oil Services and weakening demand in Functional Minerals and Additives. The Catalysis EBITDA margin declined as a result of lower volumes, a less favorable product mix and the efficiency program provision. Clariant announced first half year 2020 continuing operations sales of CHF 1.945 billion, compared to CHF 2.229 billion in the first half year 2019.
Copyright © Clariant 2020. Excluding the above-mentioned one-off provision of CHF 231 million, the net result in the first half of 2020 was 31 % lower than the previous year due to volume-driven weaker absolute profit and negative currency effects. All rights reserved.
This corresponds to a 14 % decline in Swiss francs due to unfavorable currency effects. Muttenz, July 14, 2020 – Clariant, a focused, sustainable and innovative specialty chemical company, today announced that a fine of EUR 155.8 million was imposed as the European Commission has completed its investigation into the ethylene purchasing market. This only has to be done for the first file you download on this site.
Catalysis sales also slowed by 1 % compared to a particularly strong previous year.
Please enter your contact details and the file will start downloading immediately after your details have been submitted. The 14.8 % EBITDA margin remained unchanged versus 14.8 % (reported 7.7 %) in the previous year when excluding the one-off CHF 231 million provision, which was booked in the second quarter of 2019.
The transformed Clariant will be a sustainable and innovative specialty chemical company that aims to grow above the market to achieve higher profitability based on its three core specialty Business Areas. In Natural Resources, the margin reduction is attributable to lower volumes in COVID-19-exposed segments such as automotive, textile and in particular oil, which could not be counterbalanced by internal performance measures. On a regional basis, the positive development in Asia in local currency was underpinned by very strong sales growth in China and India in the third quarter of 2020. Copyright © Clariant 2020. The enterprise value of the sale, which consists of separate transactions for Clariant’s global Masterbatches business and its Masterbatches business in India, amounts to approximately USD 1,560 million which is equivalent to c. 12.2 times the last twelve months reported EBITDA (ending September 2019). As previously disclosed, these measures will lead to a workforce reduction of approximately 600 positions and a cost base reduction in excess of CHF 50 million for the continuing business over the next two years.
The sales development in Catalysis weakened only by a slight 2 % while exceeding the first quarter 2020 result. This only has to be done for the first file you download on this site.
The needs of our employees – by adhering to our company values. A corresponding provision totaling CHF 58 million was made in the continuing Business Areas in the second quarter 2020 for the cost associated with the execution of this program. Clariant’s three core specialty Business Areas are executing performance programs to generate resilient results during these times and to achieve above-market growth, higher profitability and stronger cash generation in the mid-term. Net debt for the total Group increased to CHF 1.426 billion versus CHF 1.372 billion as of the end of 2019 following the normal seasonal cash flow pattern. Thank you for your understanding. The Catalysis Business Area’s top line declined by 4 % in local currency amid the temporarily muted demand environment in the chemical industry, whereas the second quarter improved over the first. Particularly the second quarter was negatively affected by influences attributable to the COVID-19 pandemic. Outlook – Third quarter challenged by COVID-19 while performance measures lift portfolio to achieve above-market growth, higher profitability and stronger cash generation in the mid-term. We create added value by appreciating the needs of our customers – with competitive and innovative solutions.
In the second quarter 2020, sales from continuing operations decreased by 4 % in local currency to CHF 926 million. This corresponds to a decrease of 6 % in local currency due to lower demand and 13 % in Swiss francs attributable to unfavorable currency developments. This only has to be done for the first file you download on this site. If you are searching for Safety Data Sheets, please visit our. Switzerland's Clariant
Although the COVID-19 pandemic had a significant negative impact on several of Clariant’s key end markets in the third quarter, the performance resilience clearly validates the success of our strategic focus on the three core specialty Business Areas,” said Hariolf Kottmann, Executive Chairman ad interim of Clariant. These buoyant profitability results are therefore noteworthy, as they clearly reflect the effectiveness of Clariant’s business continuity programs, as well as cash and cost measures, which have been implemented to minimize the impact of this pandemic and improve the performance in the midterm.
The link you activated will take you outside the Clariant site in about 10 seconds. The continuing operations EBITDA declined to CHF 127 million and a corresponding margin of 14.2 %, slightly below the 14.5 % in the previous year.
We therefore continue to anticipate above-market growth, higher profitability and stronger cash generation.”, Nine Months 2020 – Steady EBITDA margin development despite notably softer environment.
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