Despite a challenging economic environment and unfavorable currency movements, Clariant continued to improve its business performance in 2015. With a solid sales growth in local currencies, a higher profitability driven by the three higher-growth Business Areas Care Chemicals, Catalysis and Natural Resources, and a significantly improved operating cash flow, Clariant achieved its objectives for the reporting year.
Clariant recorded in the year under review Group sales of CHF 5 807 million from continuing operations. This is a 3% growth in local currencies (–5% in Swiss francs). Growth was driven by a very strong presence in Latin America and a solid growth in North American activities. Asia, not including China, was also able to improve sales figures in 2015, while China posted a substantial decline due to growing economic uncertainties. Sales in Europe declined slightly. The volume increase could not offset the significantly negative currency effects, against a background of a stable pricing environment.
»Today our global markets are very dynamic and constantly changing. For this reason, a company that seeks long-term success must also embrace continuous transformation and evolution.«
Hariolf Kottmann
Chief Executive Officer
For the seventh consecutive year, Clariant succeeded in increasing the EBITDA margin before exceptional items. The margin expanded substantially by 50 base points from 14.2% to 14.7% due to favorable volume growth and product mix. EBITDA before exceptional items was CHF 853 million, an increase of 8% in local currencies.
Operating cash flow improved substantially from CHF 334 million to CHF 502 million stemming from a sustainable working capital management.
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
Earnings before interest, taxes, depreciation, and amortization. VIEW ENTIRE GLOSSARY