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2021-10-28

Clariant significantly increased profitability in the third quarter of 2021 on the back of double-digit sales growth

AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

  • Third quarter 2021 sales from continuing operations increased by 23 % in local currency to CHF 1.096 billion
  • Third quarter continuing operations EBITDA at CHF 180 million
  • Third quarter 2021 EBITDA margin increased to 16.4 % versus 14.2 % in the third quarter of 2020
  • Outlook 2021: increased local currency sales growth of 9 % – 11 % and a confirmed EBITDA margin range of 16.0 % – 17.0 %

“In the third quarter of 2021, Clariant delivered particularly high year-on-year revenue growth and also successfully increased performance. The completed construction of our first commercial sunliquid® cellulosic ethanol plant represents a major milestone for Clariant and is a further key proof point of our ambitious growth strategy,” said Conrad Keijzer, CEO of Clariant. “Clariant’s ability to clearly increase the profitability level was attributable to strong growth in our relevant end markets and our ability to partially offset the effects of raw material cost inflation, logistics challenges and rising energy cost through strong pricing. Our full year 2021 outlook remains positive. Based on the strong performance in the first nine months, we are increasing our full year local currency sales growth expectation and continue to forecast a step up in EBITDA margins to above pre-COVID-19 pandemic levels.”

Key Financial Data

Continuing operations Third Quarter Nine Months
in CHF million 2021 2020 % CHF % LC 2021 2020 % CHF % LC
Sales 1 096 893 23 23 3 130 2 838 10 12
EBITDA 180 127 42   517 419 23  
- margin 16.4 % 14.2 %     16.5 % 14.8 %    
EBITDA before exceptional items 190 137 39   536 446 20  
- margin 17.3 % 15.3 %     17.1 % 15.7 %    

Third Quarter 2021 – Particularly strong, double-digit sales growth facilitates significant profitability improvement

Muttenz, October 28, 2021 - Clariant, a focused, sustainable, and innovative specialty chemical company, today announced that the third quarter 2021 sales from continuing operations increased by a lofty 23 % in local currency and in Swiss francs to CHF 1.096 billion. The sales expansion was achieved via higher volumes and strong pricing in all Business Areas and all regions.

Clariant grew sales in almost all regions in the third quarter of 2021, thus reflecting a continuing, clear demand recovery. In Europe, the very strong 27 % growth in local currency was supported by strong demand in industrial and consumer applications, and Latin America grew at the same pace. Asia and North America followed closely with 23 % and 22 % higher sales, respectively. The development in the Middle East & Africa region was flat.

In the third quarter, Care Chemicals increased sales by 31 % in local currency, supported by organic double-digit expansion in Industrial Applications and Consumer Care as well as the first-time consolidation of Clariant IGL Specialty Chemicals Private Limited (CISC). Catalysis sales rose by 5 % in local currency primarily due to the strong sales development in Syngas and the emission-control catalyst businesses. Natural Resources sales increased by a resounding 25 % in local currency due to the strong growth in Additives and Functional Minerals as well as the year-on-year improvement in Oil and Mining Services and the lower comparison base.

The continuing operations EBITDA increased to CHF 180 million and a corresponding margin of 16.4 %, outperforming the 14.2 % reported in the third quarter of the previous year. This development was positively influenced by strong volume expansion, improving operating leverage together with pricing measures, and the continued successful execution of Clariant’s efficiency programs, which resulted in additional cost savings of CHF 8 million in the third quarter. Negative influences on the Group profitability included continuing raw material cost inflation, the difficult logistic situation, as well as increasing energy cost.

First Nine Months 2021 Higher sales in all Business Areas and over-proportional profitability improvement

In the first nine months of 2021 continuing operations sales increased by 12 % in local currency and by 10 % in Swiss francs to CHF 3.130 billion, compared to CHF 2.838 billion in the first nine months of 2020.

In the first nine months of 2021, sales rose in almost all geographic regions. The developments in Europe and Asia were particularly robust with strong growth of 19 % and 17 %, respectively, whereby China grew b...

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