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Clariant Textile, Leather & Paper Chemicals Div posts growth of 3%
20 Feb '07
3 min read
2006 Financials:
Improvements in cash flow and lower interest expenses EBITDA before exceptionals rose to CHF 855 million from CHF 795 million a year earlier. The EBITDA before exceptionals margin rose to 10.6% from 10.3% in the period, allowing operating cash flow across all operations to rise to CHF 284 million, up from CHF 209 million in 2005.
Net working capital, however, also increased due primarily to the implementation of a new supply chain management system in Europe. Net income from continuing operations fell to CHF 131 million in 2006 from CHF 262 million in 2005, mainly impacted by a goodwill impairment charge of CHF 100 million in the leather business and by the sale of site services in Germany amounting to approximately CHF 43 million, as announced in the company's Third Quarter results.
Solid sales and improved performance in the Fourth Quarter Sales in the Fourth Quarter rose 3% to CHF 2.010 billion from 1.958 billion a year earlier. Operative income before exceptionals showed a significant improvement in the Fourth Quarter,
up to CHF 134 million from CHF 105 million. Selling prices remained stable and material costs increased year-on-year.
Cash flow increased in the Fourth Quarter to CHF 143 million from CHF 14 million a year earlier. Net income from continuing operations amounted to CHF 23 million, up from the CHF 16 million reported in the same period of 2005.
Paper lifts Textile, Leather & Paper Chemicals Division: The Textile, Leather & Paper Chemicals Division posted organic growth of 3% for the Full Year. The division benefited from a very strong pick up in sales volumes in the paper business, primarily optical brighteners.
After a weak 2005, Leather made progress overall in 2006, with increased sales in South America and Asia, although the business experienced some weakness towards the end of the year. Textiles were stable despite continued challenging market environments in North America and Asia in 2006.
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Improvements in cash flow and lower interest expenses EBITDA before exceptionals rose to CHF 855 million from CHF 795 million a year earlier. The EBITDA before exceptionals margin rose to 10.6% from 10.3% in the period, allowing operating cash flow across all operations to rise to CHF 284 million, up from CHF 209 million in 2005.
Net working capital, however, also increased due primarily to the implementation of a new supply chain management system in Europe. Net income from continuing operations fell to CHF 131 million in 2006 from CHF 262 million in 2005, mainly impacted by a goodwill impairment charge of CHF 100 million in the leather business and by the sale of site services in Germany amounting to approximately CHF 43 million, as announced in the company's Third Quarter results.
Solid sales and improved performance in the Fourth Quarter Sales in the Fourth Quarter rose 3% to CHF 2.010 billion from 1.958 billion a year earlier. Operative income before exceptionals showed a significant improvement in the Fourth Quarter,
up to CHF 134 million from CHF 105 million. Selling prices remained stable and material costs increased year-on-year.
Cash flow increased in the Fourth Quarter to CHF 143 million from CHF 14 million a year earlier. Net income from continuing operations amounted to CHF 23 million, up from the CHF 16 million reported in the same period of 2005.
Paper lifts Textile, Leather & Paper Chemicals Division: The Textile, Leather & Paper Chemicals Division posted organic growth of 3% for the Full Year. The division benefited from a very strong pick up in sales volumes in the paper business, primarily optical brighteners.
After a weak 2005, Leather made progress overall in 2006, with increased sales in South America and Asia, although the business experienced some weakness towards the end of the year. Textiles were stable despite continued challenging market environments in North America and Asia in 2006.
Click here to read more:
Clariant, Switzerland
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