Muttenz, 05 September 2011 - Clariant, a world leader in specialty chemicals, adjusted its guidance for the full-year 2011 due to unfavorable foreign exchange rate developments and a softening of the global economy in the current business year. The mid-term EBITDA margin target for 2015 was confirmed.
The first two months of the second half-year have been marked by a continuing unfavorable development of foreign exchange rates and increasingly difficult economic conditions, negatively impacting Clariant's operating business. While overall demand remained robust, a softening has become evident in some regions and end markets. In view of the developments in the last few weeks, the initial assumptions on exchange rates as well as on economic growth rates for 2011 are no longer valid. Therefore, the previous full-year 2011 guidance needs to be adapted to the changed conditions. Sales are expected at CHF 7.0 - 7.2 bn while the EBITDA margin before exceptional items should reach between 12.8% and 13.2%, still above the 12.7% reported in the last business year.
CEO Hariolf Kottmann commented: "We confirm our mid-term target of an EBITDA before exceptionals of above 17% for 2015. This is based on an improvement in our competitive position resulting from the global asset network optimization program, further savings as well as a successful integration of Süd-Chemie, which will substantially contribute to the group's performance in the coming years. The solid base and the sound financial position achieved in the last two years allow us to consequently implement our profitable growth strategy."
| Conference Call | Playback | |
| Clariant invites you to a conference call on September 5, 2011, at 07.30 am (CEST) to discuss the recent developments +41 (0) 91 610 56 00 (Europe) +44 (0) 203 059 58 62 (UK) +1 (1) 866 291 41 66 (USA - Toll-Free) | The playback will be available 1 hour after the conference for 48 hours until September 7th inclusively. Participants requesting the digital playback will be dialing: +41 (0) 91 612 4330 (Europe) +44 (0) 207 108 6233 (UK) +1 (1) 866 416 2558 (USA) and will be asked to enter the Code 17240 followed by the # sign. |
Media Contacts | Tel. | |
| Ulrich Nies | +41 61 469 6158 | ulrich.nies@clariant.com |
| Stefanie Nehlsen | +41 61 469 6742 | stefanie.nehlsen@clariant.com |
Investor Relations Contacts | Tel. | |
| Siegfried Schwirzer | +41 61 469 6749 | siegfried.schwirzer@clariant.com |
| Ulrich Steiner | +41 61 469 6745 | ulrich.steiner@clariant.com |
www. clariant.com
Clariant is an internationally active specialty chemical company based in Muttenz near Basel. The group owns over 100 companies worldwide and employed approx. 16,200 employees as of December 31, 2010. In the financial year 2010, Clariant produced a turnover in excess of CHF 7 billion. Clariant is divided into twelve business units: Additives; Catalysis & Energy; Detergents & Intermediates; Emulsions; Functional Materials; Industrial & Consumer Specialties; Leather Services; Masterbatches; Oil & Mining Services; Paper Specialties; Pigments; Textile Chemicals.
