Sales grow 8% at Clariant in 2012

Q4 2012 Performance

In the fourth quarter, Clariant reported 2% sales growth in local currencies on the back of 3% higher volumes and 1% lower prices. In Swiss francs, sales were 1% higher, at CHF 1.509 billion compared to CHF 1.491 billion a year ago. Compared to the third quarter of 2012, both sales prices and raw material costs decreased 1%.

Sales growth in the fourth quarter was driven by strength in Oil & Mining Services and Catalysis & Energy with growth of 15% respectively 9%. While Functional Materials, Industrial & Consumer Specialties, Masterbatches and Pigments developed stable year-on-year, Additives was adversely impacted by the ongoing weakness in the electronics industry.

At the regional level, Latin America grew double-digit in local currencies while North America and Asia/Pacific were slightly above previous-year’s level. EMEA was flat with good growth in the Middle East compensating for the weakness in Europe.

The gross margin was higher year-on-year, at 29.3% compared to 27.0%1 in the previous-year period. This was mainly due to stringent margin management and lower idle facility costs year-on-year. The EBITDA margin before exceptional items climbed to 14.9% from 14.3% in the fourth quarter of 2011 as a result of almost stable or better margins in five of the seven Business Units.

Operating cash flow picked-up significantly and amounted to CHF 284 million compared to CHF 200 million in the fourth quarter 2011.

Clariant