28 June 2013 11:14 [Source: ICIS news]
LONDON (ICIS)--Clariant reconfirmed its 2015 target of earnings before interest, tax, depreciation and amortisation (EBITDA) pre-exceptionals of 17%, CEO Hariolf Kottmann said on Friday, driven by portfolio realignment and a focus on innovation.
The company’s return on invested capital in 2015 would be higher than a peer group average, he said.
The company said it would achieve “higher earnings quality” with the integration of catalysts and energy and functional materials businesses and the planned divestment of five low growth, low profitability businesses. The firm agreed to sell its textile chemicals, paper specialties and emulsions businesses to SK Capital in December 2012 for about Swiss france (Swfr) 502m ($534m, €408m).
Early in 2012, it said it also planned to sell its leather services and detergents & intermediates business lines.
“Combining Clariant’s innovation strength with a clear focus on customers and markets, we will be in an even better position to exploit the potential of our R&D pipeline,” the CEO said.
Speaking at the Switzerland-headquartered specialty chemicals company’s capital markets day, CFO Patrick Jany said Clariant expected the economic environment to remain difficult this year but that it would increase sales in local currencies in 2013 and achieve a higher fully year 2013 EBITDA margin.
($1 = €0.77; $1 = Swfr0.94)
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