Clariant: Strong Cash Flow in 2009
Clariant International Ltd., Muttenz, Switzerland, reports sales in 2009 down 14% in local currency and 18% in CHF. Operating income before exceptional items decreased to CHF 270 million in 2009 from CHF 530 million in 2008. Cash flow from operations improved to CHF 757 million from CHF 391 million in the previous year. Net debt reduced to CHF 545 million from CHF 1,209 million in 2008.
As part of the ongoing asset network optimization program, further measures are being implemented, affecting production sites in Muttenz (Switzerland), Resende (Brazil) and Thane (India).
Outlook 2010: Clariant does not foresee a sustainable recovery of the global economy. As a consequence, the company expects sales growth in local currencies in the low single-digit range. The operating income margin before exceptionals is expected to rise above 6%. Cash flow from operations will remain strong but below the levels of 2009.
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