Clariant with better financial results
Swiss internationally operating Clariant International (Speciality Chemicals) has slightly increased sales in the second quarter/first semester of 2013 with more marked advances in profitability
Sales from continuing operations grew 2 % in local currencies (in CHF one percent) and against the same period of 2012, or to CHF 1544 million (CHF 1527 million) in the second quarter of 2013. EBITDA margin before exceptional items inclined from 13.1 % to 13.7 % and the net result rose from CHF 55 million to CHF 71 million.
For the first half year sales were CHF 3070 million (CHF 3040 million) or plus one percent, EBITDA before exceptional items increased 2 %, or from CHF 411 million to CHF 420 million and EBITDA margin from 13.5 to 13.7 %. EBIT Margin before exceptional items remained at 9.3 % but in value EBIT increased by one percent or from CHF 282 million to CHF 285 million and the net result was up from CHF 71 million to CHJF 109 million. The companies staff amounted to 21075 (21202) persons at the end of June 2013. Capital expenditure increased in the second quarter as against the same quarter of 2012 from CHF 66 million to CHF 71 million. Net debt increased from end of 2012 CHF 1656 million to CHF 1789 million in the first quarter of 2013 due to a negative cash flow and reserve payment to shareholders.
Sales of the discontinued operations (textile effects and textile chemicals, definitely sold, see TextileFuture News July 11, 2013 http://textile-future.com/textile-manufacturing.php?read_article=1551) amounted in the second quarter 2013 to CHF 451 million, and in the first semester to CHF 872 million (883 million), but the net result (half year) increased from CHF 14 million to CHF 20 million.
In its outlook, Clariant confirms its 2015 targets of an EBITDA margin of above 17 % and return on invested capital (ROIC) above the peer group average. For the ongoing year the company expects stability in mature markets but rising uncertainties in emerging economies.