Clariant: confirms guidance for 2018; shares rise
(CercleFinance.com) - Clariant shares are up today after the Swiss specialty chemicals maker confirmed its guidance for 2018, expecting to improve its performance this year.
In the third quarter, the group's sales rose by 5% in local currency to 1.6 billion Swiss francs, mainly due to price increases, while EBITDA before extraordianry items rose by 3% to 241 million Swiss francs, giving a "solid" margin of 15%.
For 2018, Clariant is confident that it will report growth in local currency, as well as improvements in its operating cash flow, absolute EBITDA and EBITDA margin before extraordinary items, the company said.
This report boosted the shares this morning: the Clariant stock is currently up 2.4% at 21.6 Swiss francs.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In the third quarter, the group's sales rose by 5% in local currency to 1.6 billion Swiss francs, mainly due to price increases, while EBITDA before extraordianry items rose by 3% to 241 million Swiss francs, giving a "solid" margin of 15%.
For 2018, Clariant is confident that it will report growth in local currency, as well as improvements in its operating cash flow, absolute EBITDA and EBITDA margin before extraordinary items, the company said.
This report boosted the shares this morning: the Clariant stock is currently up 2.4% at 21.6 Swiss francs.
Copyright (c) 2018 CercleFinance.com. All rights reserved.