Clariant AG H1 Net Income Rises; Sales Up 9% - Quick Facts

(RTTNews) - Clariant AG (CLZNY.PK, CRN.L, CLZNF.PK) reported that its first-half net income soared by 20% to 153 million Swiss francs from 128 million francs in the previous year. The company said this expansion was supported by the improvement in absolute EBITDA before exceptional items as well as lower finance costs. EBITDA before exceptional items increased by 9% to 482 million francs, compared to 444 million francs, in the previous year.

First half sales were 3.132 billion Swiss francs compared to 2.899 billion francs in 2016. This corresponds to 9% growth in local currency driven by double-digit expansion in Catalysis and Natural Resources. Organic growth amounted to 5%, driven by higher volumes.

In the second quarter of 2017, EBITDA before exceptional items rose by 8% to 232 million francs. Sales rose by 8% in local currency to 1.53 billion francs. Underlying sales growth was 4% in local currency.

For 2017, Clariant is confident to be able to achieve growth in local currency, as well as progression in operating cash flow, absolute EBITDA and EBITDA margin before exceptional items.

Separately, Clariant and Huntsman (HUN) presented a first update on the planned merger of equals to keep their shareholders informed. The preparations to create HuntsmanClariant, a global specialty chemicals company, are proceeding as planned with an unchanged closing targeted for December 2017/January 2018. The Venator standalone debt financing of $750 million is secured. The IPO roadshow is now underway.