- Sales from continuing operations increased by 2 % in local currency to CHF 1.002 billion, reflecting a broad recovery in our markets
- EBITDA of CHF 164 million rose by 4 % in Swiss francs, generating a notably improved EBITDA margin at 16.4 % (vs. 15.4 %)
- Pricing actions have been initiated to offset rising raw material and logistics cost
- Outlook 2021 Continuing Operations: moderate local currency sales growth and a step up in EBITDA margin to slightly above pre-COVID-19 pandemic levels
“The first quarter of 2021 demonstrated both Clariant’s return to growth as well as a sequential improvement in the Group’s performance. This progression was achieved through our portfolio of attractive businesses and the disciplined execution of our strategy and performance improvement programs,” said
Key Financial Data
Continuing operations | First Quarter | |||||||
in CHF million | 2021 | 2020 | % CHF | % LC | ||||
Sales | 1 002 | 1 019 | -2 | 2 | ||||
EBITDA | 164 | 157 | 4 | |||||
- margin | 16.4 % | 15.4 % | ||||||
EBITDA before exceptional items | 168 | 163 | 3 | |||||
- margin | 16.8 % | 16.0 % |
First Quarter 2021 – Progression towards mid-term targets
Muttenz,
On a regional basis, sales in
The Care Chemicals Business Area increased sales by 7 % in local currency due to improvements in both Consumer Care as well as Industrial Applications in the first quarter of 2021. Catalysis sales rose by a notable 10 % in local currency primarily due to the strong sales development in Petrochemicals. Natural Resources sales declined by 6 % in local currency due to the particularly challenging comparison base in the first quarter of 2020 as well as the continued weakness in the Oil and Refinery businesses.
The continuing operations EBITDA rose by 4 % in Swiss francs to CHF 164 million, positively influenced by the sales expansion in the first quarter of 2021 and the efficiency program-driven cost savings in the amount of CHF 6 million, which generated improvements in each of the three Business Areas. As a consequence, the EBITDA margin improved significantly to 16.4 % versus 15.4 % in the same period of the previous year.
Discontinued operations
For the first quarter of 2021, on a like-for-like basis, sales in discontinued operations (Pigments) increased by 4 % in local currency and remained unchanged in Swiss francs.
The EBITDA decreased in absolute value year-on-year due to the divestment of the Masterbatches business. The profitability of the underlying Pigments businesses was positively impacted by the higher sales as well as the execution of the efficiency program.
A
Outlook – Focused portfolio to achieve above-market growth, higher profitability, and stronger cash generation in the mid-term
For the second quarter of 2021,
In the mid-term,
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Phone +41 61 469 63 63 jochen.dubiel@clariant.com | andreas schwarzwälder Phone +41 61 469 63 73 andreas.schwarzwaelder@clariant.com |
Phone +41 61 469 63 63 claudia.kamensky@clariant.com | Maria Ivek Phone +41 61 469 63 73 maria.ivek@clariant.com |
Phone +41 61 469 63 63 thijs.bouwens@clariant.com | Phone +41 61 469 63 73 alexander.kamb@clariant.com |
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This media release contains certain statements that are neither reported financial results nor other historical information. This document also includes forward-looking statements. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Clariant’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors such as: the timing and strength of new product offerings; pricing strategies of competitors; the Company’s ability to continue to receive adequate products from its vendors on acceptable terms, or at all, and to continue to obtain sufficient financing to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. www.clariant.com |
Q1 2021 Media Release EN
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