Swiss Clariant Q1 net profit nearly triples, sales inch up 1%

30 April 2013 06:36  [Source: ICIS news]

ClariantSINGAPORE (ICIS)--Clariant nearly tripled its first-quarter net profit to Swiss franc (Swfr) 50m ($$53m, €40m), with sales rising 1% from the previous corresponding period, the Switzerland-headquartered chemicals firm said on Tuesday.

Sales for the first three months of the year were at Swfr1.53bn, with operating profit up 4% year on year to Swfr119m, the company said in a statement.

Earnings before interest, tax, depreciation and amortisation (EBITDA) before exceptional items for the March quarter, however, dipped 1% to Swfr209m, it said.

Clariant’s EBITDA margin before exceptional items slightly weakened to 13.7% in January-March 2013 from 13.9% in the same period last year, it said.

“For 2013, Clariant expects a persisting soft macroeconomic environment, characterized by high volatility,” Clariant said.

“While solid growth in the emerging markets is most likely, no significant growth impulses are expected from the European and North American economies,” the company said.

Clariant reiterated its 2015 targets of generating an EBITDA margin of above 17%.

“Clariant will focus on growing the seven core businesses and on continuous cost discipline. This will lead to further top-line growth in local currencies and improved profitability in 2013,” it said.

($1 = €0.76 / $1 = Swfr0.94)


By: Pearl Bantillo
+65 6780 4359



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