Clariant Adjusts Full-Year Guidance
Clariant, Muttenz, Switzerland, adjusted its guidance for the full-year 2011 due to unfavorable foreign exchange rate developments and a softening of the global economy in the current business year. The mid-term EBITDA margin target for 2015 was confirmed.
The first two months of the second half-year have been marked by a continuing unfavorable development of foreign exchange rates and increasingly difficult economic conditions, negatively impacting Clariant’s operating business. While overall demand remained robust, a softening has become evident in some regions and end markets. In view of the developments in the last few weeks, the initial assumptions on exchange rates as well as on economic growth rates for 2011 are no longer valid. Therefore, the previous full-year 2011 guidance needs to be adapted to the changed conditions. Sales are expected at CHF 7.0 - 7.2 bn while the EBITDA margin before exceptional items should reach between 12.8% and 13.2%, still above the 12.7% reported in the last business year.
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