Clariant: quarterly results snubbed by market

(CercleFinance.com) - On Thursday Clariant reported better-than-expected quarterly earnings and sales, amongst other things, boosted by its natural resources business.


The Swiss specialty chemicals group's Q3 sales rose 27% in local currency to 1.3 billion Swiss francs, above the 1.2 billion Swiss francs expected by analysts.

Operating profit from continuing operations came in at 220 million Swiss francs, representing an operating margin of 16.8%, compared with 15.5% a year earlier.

In a statement, the company said it benefited from price increases, which offset rising costs for raw materials, energy and logistics services.

Clariant confirmed its targets for FY 2022, starting with strong sales growth in local currency.

Despite these good figures, the share price is down over 4.5% on Thursday in Zurich.

One analyst attributed the negative reaction to the prospect of further restructuring charges in the fourth quarter due to the implementation of a new operating model.


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