• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Research
    • Markets & Technologies
    • Raw Materials
    • Top Companies
    • Directories
    • Jobs
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Research
  • Markets & Technologies
  • Raw Materials
  • Top Companies
  • Directories
  • Jobs
  • Events
  • Microsites
  • Current / Back Issues
    Features
    Business Corner
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    World Reports
    eBook
    Top Features
    Marine Coatings Market is Focusing on Efficiency, Decarbonization

    Biocides Regulation Impacting Coatings in the United States: An Overview

    High Performance and Special Effect Pigments Update

    Industrial Coatings Market Sees Strong Recovery

    Biocides Market Outlook - 2027
    Breaking News
    Online Exclusives
    Distributor News
    Financial News
    Paint & Coatings Manufacturer News
    People In the News
    Price Increases
    Product News
    Raw Materials & Equipment
    Video Bites
    Suppliers News
    Live From Shows
    Top News
    Quinacridone Pigments Market Projected to Reach $539 Million by 2030: Straits

    Tnemec Announces New Senior Manager of Performance Coatings

    Shortlist Announced for British Coatings Federation’s 2022 Awards

    Chemours Details Progress in its Fifth Corporate Responsibility Commitment Report

    Paul Seffrood Joins Trans Western Chemicals
    Top Companies report
    Market Research
    White Papers / Tech Papers
    Technical Papers
    Product Spec Sheets
    World Reports
    Adhesives and Sealants
    Aerospace Coatings
    Architectural Coatings
    Automotive Coatings
    Automotive Refinish
    Business Operation
    Color Trends & Forecast
    Construction Chemicals
    Corrosion Control
    Industrial Coatings
    Laboratory Equipment
    Marine Coatings
    Market Trends & Forecast
    Powder Coatings
    Production Equipment
    Radcure Coatings
    Special Purpose Coatings
    Wood Coatings
    "Green" Coatings

    PPG’s New Paint for a New Start Initiative Transforms Ecole & Collège Saint Joseph School in France

    Custom Cars Featuring PPG DELTRON Refinish System Take Awards at Goodguys 24th Summit

    HGTV Home by Sherwin-Williams Announces 2023 Color Collection of the Year

    Glasurit and FIVA Renew Their Partnership

    PPG Completes Makeover at Primary School in Novo Mesto, Slovenia
    Additives
    Binders
    Pigments
    Solvents

    KRATON Receives Platinum Rating from EcoVadis for Sustainability Management System

    Lanxess' Entire Value Chain to Become Climate-Neutral

    BASF to Produce More Specialty Pyrrolidones in North America

    J.M. Huber Corporation Signs Agreement to Acquire the Biolchim Group

    Orion Engineered Carbons Releases 2021 Sustainability Report
    Company Capabilities
    Buyers Guide
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    Siltech Corporation

    Clariant Additives

    W. R. Grace & Co.

    Shepherd Color Company, The

    Active Minerals
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    Metropolitan New York Coatings Association (MNYCA) Annual Golf Outing

    Asia Pacific Coatings Show 2022

    Asia Pacific Coatings Show

    2022 Pacific Coatings Show

    64th Polyurethanes Technical Conference
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    Siltech Corporation

    Clariant Additives

    W. R. Grace & Co.

    Shepherd Color Company, The

    Active Minerals
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Business Corner
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directories
      • Buyers Guide
      • Distributor Guide
      • Corporate Capabilities
      • Trade Associations
      • Add Your Company
    • Markets & Technologies
      • Adhesives and Sealants
      • Aerospace Coatings
      • Architectural Coatings
      • Automotive Coatings
      • Automotive Refinish
      • Business Operation
      • Color Trends & Forecast
      • Construction Chemicals
      • Corrosion Control
      • Industrial Coatings
      • Laboratory Equipment
      • Marine Coatings
      • Market Trends & Forecast
      • Powder Coatings
      • Production Equipment
      • Radcure Coatings
      • Special Purpose Coatings
      • Wood Coatings
      • "Green" Coatings
    • Raw Materials
      • Additives
      • Binders
      • Pigments
      • Solvents
    • World Reports
      • Africa Report
      • India/Asia Pacific Report
      • China Report
      • Europe Report
      • Latin America Report
      • Market Research
      • Russian Report
    • Top Companies
    • Online Exclusives
    • Slideshows
    • Experts Opinions
    • Blog
    • eBook
    • Infographics
    • Videos
    • Podcasts
    • Whitepapers
    • Jobs
    • Microsites
      • Companies
      • White Papers/Tech Papers
      • Product Spec Sheets
      • Equipment
      • Literature/Brochures
      • Videos
    • Events
      • Industry Events
      • Live From Show Event
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    Clariant with Promising Start to the Year

    ...

    04.30.14
    “Clariant had a promising start to the year with good volume growth and an increase in operating profitability,” said CEO Hariolf Kottmann. “Overall, our businesses performed well in an improving but still mixed economic environment. The picture has been somewhat clouded by unfavorable currency developments, a mild winter in Europe, and an impairment charge related to the divestment of the ASK Chemicals joint venture. However, after the first three months, Clariant is well on course to meet its full-year targets.”
     
    First quarter 2014 – Good sales growth driven by higher volumes

    Muttenz, 30 April 2014 - Clariant, a world leader in specialty chemicals, today announced first quarter 2014 sales from continuing operations of CHF 1.492 billion compared to CHF 1.526 billion in the first quarter of 2013. This corresponds to an increase of 5% in local currencies. The 5% organic sales growth was driven by 4% higher volumes and an increase in prices of 1%.

    Good sales growth in local currencies was strongly impacted by unfavorable currency developments in the emerging markets as well as in North America. The adverse currency environment implied a sales growth of –2% in Swiss francs, mainly due to the year on year weakness of the Brazilian real, Indian rupee, Japanese yen, and US dollar.

    Clariant posted strong local currency sales growth of 15% in Latin America. Sales in Asia/Pacific increased 11% in local currencies, driven by 33% higher sales in both China and India. In the Middle East & Africa region, sales were 10% higher year on year in local currencies as all Business Areas recorded growth in the region. In North America, a strong de-icing season offset the winter-related softness in other businesses, leading to 1% sales growth in local currencies. Europe was 1% lower due to unfavorable weather conditions, which particularly impacted Northern and Central Europe. Southern Europe, on the other hand, showed growth from a low base.
     
    All Business Areas with the exception of Care Chemicals achieved mid to high single-digit sales growth. Care Chemicals was flat year on year, exclusively due to a virtually non-existent de-icing season in Europe. Excluding de-icing, growth in Care Chemicals was on a par with the other Business Areas. Catalysis & Energy opened the year on a positive note and confirmed the expected recovery in 2014. Natural Resources achieved good growth in both the Oil & Mining Services and Functional Minerals businesses. In the Plastics & Coatings Business Area, solid growth was accomplished in all areas, particularly in Pigments.

    At 28.9%, the gross margin was down from 29.2% in the prior-year period due to an unfavorable sales mix and a negative currency impact. This was partially compensated by lower costs for the underutilization of production capacities and 1% higher sales prices.

    The EBITDA before exceptional items from continuing operations rose 8% in local currencies and reached CHF 210 million, on a par with the CHF 209 million recorded in the previous year. The corresponding EBITDA margin improved to 14.1%, compared to 13.7% in the first quarter of 2013. The increase in margin was supported by ongoing cost discipline and higher income from associates and joint ventures compared to the previous year.

    Exceptional items including restructuring, impairment, and transaction-related costs increased to CHF 99 million compared to CHF 22 million in the first quarter of 2013. This was entirely due to a CHF 84 million non-cash impairment charge related to the divestment of the ASK Chemicals joint venture, which was announced in the second quarter of 2014. As a consequence of the impairment, a net loss from continuing operations of CHF 39 million was recorded, compared to a net income of CHF 38 million in the previous year.

    Following the normal seasonal pattern, operating cash flow was negative at CHF –51 million versus CHF –72 million one year ago. Operating cash flow is expected to gradually improve as the year progresses.

    Net debt stood at CHF 1.562 billion and was therefore slightly higher than the CHF 1.500 billion recorded at year-end 2013. The gearing, reflecting net financial debt in relation to equity, rose to 60% from 54% at the end of 2013.

    Changes in reporting structure effective since 1 January 2013

    Clariant has meanwhile stringently executed the announced divestments of the five businesses Textile Chemicals, Paper Specialties, Emulsions, Detergents & Intermediates and Leather Services. With the closing on 30 September 2013, Clariant sold its Textile Chemicals, Paper Specialties, and Emulsions businesses to SK Capital. On 15 October 2013, the disposal of Detergents & Intermediates (D&I) to the International Chemical Investors Group (ICIG) was announced and closed effective as of 1 January 2014. The divestment of the Leather Services business to Stahl Holdings B.V. was announced on 30 October 2013 and is expected to close in the second quarter of 2014, subject to regulatory approval. Clariant will hold a 23% stake in the combined entity. Hence, all five businesses have been reported as “discontinued operations” since 1 January 2013.

    In the first quarter of 2014, discontinued operations generated sales of CHF 66 million (Leather Services) compared to CHF 421 million (Textile Chemicals, Paper Specialties, Emulsions, Detergents & Intermediates, Leather Services) in the first quarter of 2013, and a net result of CHF –9 million compared to an income of CHF 12 million in the first quarter of 2013. The net result from discontinued operations in 2013 includes book losses, project and separation costs, and currency translation adjustments related to the divestment of the Detergents & Intermediates and the Leather Services businesses.

    Outlook confirmed – Focus on performance, growth and innovation

    For 2014, Clariant expects the business environment to remain challenging with heterogeneous global economic developments and volatile currency markets. The general economic environment in the emerging markets is expected to remain favorable but mixed, 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 currencies and an EBITDA margin before exceptional items above full-year 2013.

    Clariant confirms its mid-term target of achieving a position in the top tier of the specialty chemicals industry. This corresponds to an EBITDA margin before exceptional items in the range of 16% to 19% and a return on invested capital (ROIC) above the peer group average in 2015 and beyond.
    Related Searches
    • Pigments
    • minerals
    Related Knowledge Center
    • Pigments
    Loading, Please Wait..
    Trending
    • HGTV Home By Sherwin-Williams Announces 2023 Color Collection Of The Year
    • Homeowners Increasingly Turn To Paint Pros
    • RPM International Unveils Industrial Coatings Group
    • Minwax Brand Announces Gentle Olive As Its 2022 Color Of The Year
    • BASF To Produce More Specialty Pyrrolidones In North America
    Breaking News
    • Quinacridone Pigments Market Projected to Reach $539 Million by 2030: Straits
    • Tnemec Announces New Senior Manager of Performance Coatings
    • Shortlist Announced for British Coatings Federation’s 2022 Awards
    • Chemours Details Progress in its Fifth Corporate Responsibility Commitment Report
    • Paul Seffrood Joins Trans Western Chemicals
    View Breaking News >
    CURRENT ISSUE

    July/August 2022

    • Marine Coatings Market is Focusing on Efficiency, Decarbonization
    • Biocides Regulation Impacting Coatings in the United States: An Overview
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Monk Fruit Sweetener May Have Prebiotic Activity, Study Finds
    People with Low-Fiber Diets Benefit the Most from Fiber Supplements, Study Finds
    BAPP Publishes Lab Guidance Document on Indian Frankincense (Boswellia serrata)
    Coatings World

    Latest Breaking News From Coatings World

    Quinacridone Pigments Market Projected to Reach $539 Million by 2030: Straits
    Tnemec Announces New Senior Manager of Performance Coatings
    Shortlist Announced for British Coatings Federation’s 2022 Awards
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Study Projects Steep Rise in Cardiovascular Diseases by 2060
    Bot Image's ProstatID AI Software Gains FDA Nod
    Researchers Develop Deep Learning Model for Eye Disorder Screening
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Sartorius Stedim Biotech Agrees to Acquire Albumedix
    MilliporeSigma to Provide Full Viral Vector Offering with Launch of VirusExpress 293
    Charles River Receives EMA Approval to Produce Allogeneic Cell Therapy
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    NJPEC Announces 2022 Package of the Year Awards
    Tree Hut Introduces New Sugar Scrubs
    Fashion Designer Issey Miyake Dies
    Happi

    Latest Breaking News From Happi

    Kayali Releases Lovefest Burning Cherry, a New Fragrance from Mona Kattan
    Estée Lauder To Have EV Car Fleet by 2030
    Core Revenue for Amyris, Inc. Grows 54% in Q2
    Ink World

    Latest Breaking News From Ink World

    Sonoco Names Aditya Gandhito Company’s First Chief Accounting Officer
    Quinacridone Pigments Market Size Projected to Reach $539 Million by 2030: Straits
    Shortlist Announced for the British Coatings Federation’s 2022 Awards
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    UPM Raflatac bringing multi-sensory experience to Labelexpo Americas
    Meyers turns to Domino for label, folding carton jobs
    ACTEGA to launch new products at Labelexpo Americas
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Essity Switches to Recyclable Packs for Feminine Pads
    Huntsman to Sell Textile Effects Business to Archoma
    FTC Sues PPE Maker on False Origin Claims
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Stratasys to Buy Covestro's 3D Printing Materials Biz for €43M
    NeuroOne Submits Special 510(k) to FDA for sEEG Electrode
    Custom 3D-Printed Titanium Lower Jaw Used in First Successful Surgery
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    STMicroelectronics Launches Multi-cCnnectivity Development Kit
    Emerson to Sell InSinkErator Business to Whirlpool Corporation for $3 Billion
    CdTe Accelerator Consortium Aims to Reduce Costs, Speed Deployment

    Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login