14 February 2013 06:47 [Source: ICIS news]
SINGAPORE (ICIS)--Clariant’s fourth-quarter 2012 net profit jumped almost tenfold to Swiss francs (Swfr) 99m ($108m, €81m) as it generated better margins compared with the previous corresponding period, the Switzerland-headquartered chemical firm said on Thursday.
Sales from continuing operations for the three months to December 2012 increased 1% year on year to Swfr1.51bn, the company said in a statement.
Earnings before interest, tax, depreciation and amortisation (EBITDA) before exceptional items grew 6% to Swfr225m, with margin rising to 14.9% from 14.3% in the December quarter of 2011, Clariant said.
Fourth-quarter operating profit more than quadrupled to Swfr100m, it said.
For the whole of 2012, however, Clariant recorded a 5.2% decline in net profit, with EBITDA margins falling to 13.3% from 15.0%, it said.
Sales from continuing operations in 2012 were up 8% year on year to Swfr6.04bn, but operating profit declined 8% to Swfr396m, Clariant said.
“The repositioning of the portfolio in 2011 and 2012 has brought Clariant to a sustainably higher level of profitability and net income,” the company said, while adding that it expects the soft macroeconomic environment to persist into 2013.
“While solid growth in the emerging markets is most likely, no significant growth impulses are expected from the European and the North American economies,” the company said.
Nonetheless, Clariant expects revenue growth and improved profitability this year, and confirmed its 2015 EBITDA margin targets of above 17% .
($1 = Swfr0.92 / €1 = Swfr1.23)
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