MUTTENZ, Switzerland – Clariant, a leader in specialty chemicals, announced sales of CHF 1.709 billion for the third quarter of 2010 compared to CHF 1.691 billion year on year. Sales growth in local currency amounted to 8 percent. Due to the appreciation of the Swiss Franc against most major currencies, sales growth in Swiss Francs was reduced to 1 percent.
demand for the products and services of Clariant remained solid. All business
units recorded good sales growth in local currency compared to an already high
basis of third-quarter 2009 sales. Sequentially, sales were lower, showing the
return to normal seasonality.
a regional perspective, sales growth in North America and Europe
was particularly strong. This reflects a catch up in demand from the mature
markets, which recovered later from the financial crisis than the emerging
income increased to CHF 109 million compared to CHF 25 million year on year,
which positively impacted from a one-off tax gain of CHF 45 million.
Patrick Jany commented, “Clariant had a good third quarter. As expected,
year-on-year sales growth was lower in the third quarter than in the first
half-year 2010, due to the higher basis in the year-earlier period.
Nevertheless, our stringent restructuring efforts as well as our ability to
offset higher raw material costs with sales price increases resulted in an
improved profitability and an excellent cash generation.”
on current results, Clariant aims for a high-single-digit sales growth in local
currency and an EBIT margin before exceptionals of above 9 percent for the full
year. The cash flow from operations will remain strong.