CLARIANT
Strong sales growth in 2014 / EBITDA in plastics and coatings increases by 5% in fourth quarter / Operating margins improve
 Clariant's full year operating profit rose by 1% in 2014 (Photo: Clariant) |
Swiss speciality chemicals producer Clariant (Muttenz; www.clariant.com) has reported a 1% year-on-year fall in operating profit (EBITDA) to CHF 232m (EUR 215m) in the fourth quarter of 2014, unchanged in local currencies. Full year operating profit increased by 1% to CHF 867m, or 6% in local currencies, with a favourable volume mix and improved operational efficiency offsetting the negative currency impact. EBITDA margin before exceptional items reached 14.2% over the full year compared to 14.1% in 2013.
Sales in the final quarter of 2014 were up 1% (2% in local currencies) to CHF 1.59 bn and were 1% (5%) up for the full year to CHF 6.12 bn, driven mainly by higher volumes.
Clariant CEO Hariolf Kottmann said: “In 2014 Clariant grew above average once more, even though the economic environment was challenging and characterised by a continued lack of growth in Europe. Clariant increased its sales particularly in attractive high-margin markets, and was again able to improve its profitability, though some parts of the progress were masked by a negative currency effect.”
Operating profit in the plastics and coatings business area increased by 5% (6% in local currencies) year-on-year to CHF 77m in the fourth quarter and by 1% (5%) to CHF 360m over the full year, with higher volumes and slightly positive currency exchange compensating for an unfavourable mix effect. Sales increased by 5% (4%) to CHF 609m in Q4 and by 2% (6%) over the full year.
All three business units in the plastics and coatings business area – pigments, masterbatches and additives – contributed to sales growth in local currencies. Demand was particularly strong in Latin America and Asia/Pacific, whereas demand in Europe was below the level of the previous year. Looking forward, Clariant expects growth in most regions in plastics and coatings, particularly in North America. The company will continue to invest in high-growth projects in pigments in emerging markets and will leverage its high capacity utilisation by selectively shifting to higher-margin products.
EBITDA in the catalysis and energy business area fell by 3% (no change in local currencies) year-on-year in the final quarter to CHF 59m as the negative impact from currencies was almost entirely compensated by a better product mix effect. There was an 8% (13%) increase over the full year to CHF 171m. Sales fell by 3% (no change) in the final quarter to CHF 238m due to a rebalancing of orders between the third and fourth quarter of 2014 and gained 2% (7%) over the full year to CHF 729m.
Looking ahead, Clariant expects an ongoing challenging environment with increased volatility in commodity prices and currencies. In emerging markets, the economic environment is expected to remain favourable but at a lower level and with increased volatility. Moderate growth should continue in the US. However, growth in Europe is expected to remain weak.
Sales in the final quarter of 2014 were up 1% (2% in local currencies) to CHF 1.59 bn and were 1% (5%) up for the full year to CHF 6.12 bn, driven mainly by higher volumes.
Clariant CEO Hariolf Kottmann said: “In 2014 Clariant grew above average once more, even though the economic environment was challenging and characterised by a continued lack of growth in Europe. Clariant increased its sales particularly in attractive high-margin markets, and was again able to improve its profitability, though some parts of the progress were masked by a negative currency effect.”
Operating profit in the plastics and coatings business area increased by 5% (6% in local currencies) year-on-year to CHF 77m in the fourth quarter and by 1% (5%) to CHF 360m over the full year, with higher volumes and slightly positive currency exchange compensating for an unfavourable mix effect. Sales increased by 5% (4%) to CHF 609m in Q4 and by 2% (6%) over the full year.
All three business units in the plastics and coatings business area – pigments, masterbatches and additives – contributed to sales growth in local currencies. Demand was particularly strong in Latin America and Asia/Pacific, whereas demand in Europe was below the level of the previous year. Looking forward, Clariant expects growth in most regions in plastics and coatings, particularly in North America. The company will continue to invest in high-growth projects in pigments in emerging markets and will leverage its high capacity utilisation by selectively shifting to higher-margin products.
EBITDA in the catalysis and energy business area fell by 3% (no change in local currencies) year-on-year in the final quarter to CHF 59m as the negative impact from currencies was almost entirely compensated by a better product mix effect. There was an 8% (13%) increase over the full year to CHF 171m. Sales fell by 3% (no change) in the final quarter to CHF 238m due to a rebalancing of orders between the third and fourth quarter of 2014 and gained 2% (7%) over the full year to CHF 729m.
Looking ahead, Clariant expects an ongoing challenging environment with increased volatility in commodity prices and currencies. In emerging markets, the economic environment is expected to remain favourable but at a lower level and with increased volatility. Moderate growth should continue in the US. However, growth in Europe is expected to remain weak.
23.02.2015 Plasteurope.com [230546-0]
Published on 23.02.2015
German version of this article...