Clariant: first-half profit rises, backs 2018 outlook

(CercleFinance.com) - Clariant said on Wednesday that it delivered strong growth in sales, EBITDA and net income in the first half of the year, which failed to lift its shares in Zurich.


The Swiss chemical firm said profit for the first six months of the year stood at 211 million Swiss francs, up 38% from 153 million francs one year ago.

EBITDA before exceptional items rose by 9% at 524 million Swiss francs, driven by the group's performance in care chemicals, catalysis and plastics and coatings.

The company announced first-half sales of 3.39 billion Swiss francs, compared to 3.13 billion Swiss francs in the first half of 2017, corresponding to a 7% growth in local currency and 8% in Swiss francs.

Clariant also backed its full-year guidance.

The group said it expects the good economic environment in mature markets to continue and still aims at posting growth in local currency, as well as progression in operating cash flow, absolute EBITDA and EBITDA margin before exceptional items this year.

Investors did not cheer the news. Shares of Clariant were trading off 2.7 per cent in early morning trade in Zurich this morning.

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