Continued solid balance sheet

As of 31 December 2015, the balance sheet total has been further reduced from CHF 7 915 million in the previous year to CHF 7 461 million, mainly due to the appreciation of the Swiss franc to the euro. Despite the fact that cash, cash equivalents, and near-cash assets were used to reduce liabilities, liquid assets were up from CHF 928 million to CHF 941 million.

The investments in associates and joint ventures decreased in the year-to-year comparison from CHF 635 million to CHF 586 million due to the depreciation of the euro to the Swiss franc. Assets held for sale decreased sharply from CHF 72 million to CHF 2 million due to the sale of the Energy Storage activities in February 2015.

In the reporting period, Clariant’s equity decreased from CHF 2 733 million to CHF 2 494 million. This was predominantly due to the negative currency translation differences amounting to CHF 404 million mainly associated with the change in the euro/Swiss franc exchange rate, a distribution from capital contribution reserves of CHF 129 million, and CHF 37 million of dividends to non-controlling interests. The positive impact of net investment hedges amounting to CHF 66 million, the net profit for the business year 2015 of CHF 239 million, treasury shares transactions of CHF 34 million, and the effects of employee services amounting to CHF 13 million partially offset the negative effects on equity as of end of December 2015.

Net debt increased from CHF 1 263 million to CHF 1 312 million. This figure includes current and non-current liabilities, cash and cash equivalents, near-cash assets, and financial instruments with positive market values. As a consequence, the gearing ratio (net financial debt to equity) increased from 46% to 53%.