Switzerland’s Clariant Q2 net profit rises 75%, sales grow 6%

26 July 2012 06:35  [Source: ICIS news]

SINGAPORE (ICIS)--Clariant International reported a 75% year-on-year jump in its second-quarter 2012 net profit to Swiss francs (Swfr) 70m (€58m) on “good growth” in the non-cyclical part of the business, the Switzerland-based specialty chemicals producer said on Thursday.

Sales in the second quarter grew by 6% year on year to Swfr1.98bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 3% to Swfr233m, it said in a statement.

Net income for the first half of 2012 fell to Swfr90m from Swfr160m in the same period of last year, while sales grew by 9% to Swfr3.92bn in the same period last year.

“The slowdown in global economic growth and the crisis in Europe did not materially impact the non-cyclical business units - catalysis & energy, functional materials, industrial & consumer specialties and oil & mining services,” the company said.

Clariant said it expects further sales growth in local currencies and a sustained profitability for the full-year 2012 compared to 2011, assuming the global economy stabilizes at current levels in the second half of the year.

“Raw material costs are expected to increase in the low-single digit range while exchange rates should remain stable compared to the beginning of the year,” it added.

($1 = Swfr0.99, $1 = €0.82)

By: Tahir Ikram
+65 6780 4359

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