In 2019 Clariant set out to rearange its portfolio of business activities. In October 2019 Clariant sold its Business Line Healthcare Packaging, operated as as part of the Business Unit Masterbatches to US-based Arsenal Capital Partners. In December 2019 a contract was signed with the US-based PolyOne Corporation to sell the Business Unit Masterbatches. The project to sell the Business Unit Pigments is under way. For these reasons all these Business Units are reported as discontinued operations in the financial report (see also note 25 Discontinued Operations).

As a result Clariant has grouped its remaining activities into three Business Areas (reportable segments): Care Chemicals (BU ICS), Catalysis (BU Catalysts), Natural Resources (BU Oil & Mining Services, BU Functional Minerals, BU Additives). Prior year information has been restated accordingly.

Intersegment transactions are entered into under the normal circumstances and terms and conditions that would also be available to unrelated third parties.

Segment assets consist of property, plant and equipment, goodwill, intangible assets, inventories, receivables and investments in associates. They exclude deferred tax assets, financial assets and operating cash. Segment liabilities comprise trade payables. They exclude items such as tax liabilities, provisions, pension liabilities and corporate borrowings. Capital expenditure comprises additions to property, plant and equipment and intangibles.

All of the Group’s segments generate their revenues to the largest extent from the sale of products. These come in such a great variety that a meaningful grouping below the segment information is not possible.

Revenue from services recognized in 2019 amounted to CHF 100 million (2018: CHF 89 million) and mostly were incurred in Business Area Natural Resources.

For a description of the Business Units see note 1.25.