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 2016, Clariant recorded expenses for restructuring in the amount of CHF 53 million (2015: CHF 51 million). This concerned restructuring measures mainly in Germany, China and Switzerland.

Impairment. The impairment loss recorded in 2016 concerned site closures in China. The one recognized in 2015 relates to disposal projects.

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.

The total amount of CHF 107 million of Restructuring, impairment and transaction-related costs (2015: CHF 115 million) is reported in the income statement as follows: CHF 28 million in Costs of goods sold (2015: 2 million), CHF 73 million in Selling, general and administrative costs (2015: 110 million), CHF 7 million in Research & Development costs (2015: CHF 2 million) and an income of CHF 1 million in Income from associates and joint ventures (2015: CHF 1 million expense).