Clariant Reports 2013 Financial Results
Clariant International Ltd, Muttenz, Switzerland, has published its financial report 2013. The manufacturer of specialty chemicals announced 2013 full-year sales from continuing operations of CHF 6.076 billion compared to CHF 6.038 billion in full-year 2012, an increase of 4% in local currencies and 1% in Swiss francs. The 4% organic sales growth was almost entirely driven by higher volumes.
At 28.7%, the gross margin was slightly down from the 28.9% recorded in the year before. A favorable volume/mix development was more than offset by a negative currency impact and slightly higher costs for the underutilization of production capacities. Year-on-year, sales prices were marginally higher while raw material costs were slightly lower. The EBITDA before exceptional items from continuing operations increased by 5%, reaching CHF 858 million, up from CHF 817 million one year ago. The corresponding EBITDA margin improved to 14.1%, compared to 13.5% in full-year 2012, unfolding step-by-step the inherent earnings potential of the company.
In an overall challenging business climate, all Business Areas, with the exception of Catalysis & Energy, achieved sales growth in the low to high single-digit range. In Care Chemicals both Consumer Care and Industrial Applications posted solid growth. The sales improvement in Natural Resources was chiefly based on strength in Oil Services and Refinery Services. Sales growth in the Plastics & Coatings Business Area was led by a mid single-digit increase in the Pigments business, while the other businesses, Additives and Masterbatches, grew at a more moderate pace. Catalysis & Energy was 2% lower due to a softer change-out cycle in the Petrochemicals industry and some project delays in Asia.
For 2014, Clariant expects an ongoing challenging business environment, characterized by a heterogeneous global economic development and volatile currency markets, especially in the emerging markets. The economic environment in the emerging markets is expected to remain favorable but volatile while moderate growth should continue in the advanced economies, in particular in the United States. In this scenario, Clariant will focus on profitably growing the four Business Areas and on cost efficiency. For full-year 2014, Clariant expects low to mid single-digit sales growth in local currency and an EBITDA margin before exceptional items above full-year 2013.
Clariant International Ltd.
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.