Clariant announces FY2016 results

Clariant has announced full year 2016 sales of CHF5.847bn compared to CHF5.807bn in 2015. This corresponds to a 2% growth in local currency driven by higher volumes. For the full year (FY), local currency growth was strongest in Asia and the Middle East & Africa at 4%. In North America and Europe sales growth was 2%. Latin America grew by 1%.

FY improved sales performance resulted from strong growth in Care Chemicals and Plastics & Coatings. In Plastics & Coatings, sales in local currency progressed by 4% to CHF2525M and was seen across all regions.

"Clariant considerably expanded its operating cash flow in 2016 while reporting sales growth and profitability improvement,” said CEO Hariolf Kottmann (pictured). "Our good business performance was primarily achieved by means of a continued shift to high margin specialities, the impact of the differentiated steering in Plastics & Coatings, as well as good cost management. For 2017, we are confident that we will achieve our targets, ie growth in local currency, progression in operating cash flow, absolute EBITDA and EBITDA margin before exceptional items in spite of a continued challenging economic environment.”