- Index
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- 33
- 34
- 35
in CHF m |
2015 |
2014 |
||
Restructuring expenses |
51 |
96 |
||
Payments for restructuring |
78 |
89 |
||
Impairment loss |
14 |
116 |
||
thereof charged to PPE (see note 5) |
2 |
4 |
||
thereof charged to intangible assets (see note 6) |
11 |
28 |
||
thereof charged to investments in associates and joint ventures (see note 7) |
1 |
84 |
||
Transaction-related costs |
35 |
24 |
||
|
|
|
||
Total restructuring, impairment and transaction-related costs |
100 |
236 |
||
thereof reported under discontinued operations (see note 22) |
15 |
–8 |
||
Total continuing operations |
115 |
228 |
In order to increase profitability over a sustained period, Clariant implements measures designed to improve the Group’s performance. The aim of these efforts is to increase the Group’s operating result and to reduce net working capital. The changes made to the processes and structures result in a loss of jobs across the Group.
Restructuring. In 2015, Clariant recorded expenses for restructuring in the amount of CHF 51 million (2014: CHF 96 million). This concerned restructuring measures mainly in Switzerland and Germany.
Impairment. The impairment loss recognized in 2015 relates to disposal projects. In 2014, Clariant recorded an impairment loss of CHF 30 million on its Energy Storage activities and an impairment loss of CHF 84 million on its ASK joint venture participation. Both were sold subsequently (see note 23).
Transaction-related costs comprise expenses incurred in connection with acquisition or disposal projects and also costs incurred in connection with the implementation of internal reorganizational measures, such as the currently ongoing project of setting up the Business Area Plastics & Coatings as a sub-group. Costs incurred totalled CHF 35 million for 2015.
Net working capital
Net working capital is the difference between a company’s current assets and its current liabilities. VIEW ENTIRE GLOSSARY
Business area
In 2013 Clariant adjusted its reporting segments and grouped its businesses with similar end-user markets and growth drivers. Today, the company reports in four distinct Business Areas: Care Chemicals, Catalysis, Natural Resources, and Plastics & Coatings. VIEW ENTIRE GLOSSARY