In a challenging and volatile business and economic environment, Clariant was able to deliver its targets in 2016 by focusing on the requirements of our customers by providing them with enhanced and sustainable solutions to enable them to create further value.
Clariant expects the uncertain environment, characterized by a high volatility in commodity prices, currencies as well as political uncertainties, to continue. In emerging markets, Clariant anticipates the economic environment to remain challenging and volatile; the company expects moderate growth in the United States, while growth in Europe is expected to remain stable.
For 2017, in spite of a continued challenging economic environment, 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.
Clariant confirms its mid-term target of reaching a position in the top tier of the specialty chemicals industry. This corresponds to an EBITDA margin before exceptional items in the range of 16% to 19% and a return on invested capital (ROIC) above the peer group average.
Economic indicator representing the operational net inﬂow of cash and cash equivalents during a given period. VIEW ENTIRE GLOSSARY
Earnings before interest, taxes, depreciation, and amortization. VIEW ENTIRE GLOSSARY
The EBITDA margin is calculated based on the ratio of EBITDA to sales and shows the return generated through operations from sales before depreciation and amortization. VIEW ENTIRE GLOSSARY
Exceptional items are deﬁned as non-recurring costs or income that have a signiﬁcant impact on the result, for example expenses related to restructuring measures. VIEW ENTIRE GLOSSARY
ROIC is the total return on assets or the return on capital invested by a company. It is calculated as the ratio of earnings before interest expenses, less adjusted taxes and invested capital (total capital employed). ROIC clariﬁes the return on capital with which a company is working. VIEW ENTIRE GLOSSARY