24. Segment Information
Audited information- Index
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In 2019 Clariant set out to rearrange its portfolio of business activities. In October 2019 Clariant sold its business line Healthcare Packaging, operated as a part of the Business Unit Masterbatches to US-based Arsenal Capital Partners. In July 2020 the Business Unit Masterbatches was sold to the US-based group Avient. 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 and assets held for sale).
Intersegment transactions are entered into under the normal circumstances, 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.
in CHF m |
|
Care Chemicals |
|
Catalysis |
|
Natural Resources |
|
Corporate |
|
Total Group |
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2020 |
|
2019 |
|
2020 |
|
2019 |
|
2020 |
|
2019 |
|
2020 |
|
2019 |
|
2020 |
|
2019 |
|||
Segment sales |
|
1 423 |
|
1 615 |
|
879 |
|
925 |
|
1 581 |
|
1 894 |
|
— |
|
— |
|
3 883 |
|
4 434 |
|||
Sales to other segments |
|
–12 |
|
–15 |
|
— |
|
— |
|
–11 |
|
–20 |
|
— |
|
— |
|
–23 |
|
–35 |
|||
Total sales from continuing operations |
|
1 411 |
|
1 600 |
|
879 |
|
925 |
|
1 570 |
|
1 874 |
|
— |
|
— |
|
3 860 |
|
4 399 |
|||
Operating expenses |
|
–1 212 |
|
–1 389 |
|
–784 |
|
–785 |
|
–1 448 |
|
–1 666 |
|
–118 |
|
–394 |
|
–3 562 |
|
–4 234 |
|||
Thereof: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Income from associates and joint ventures |
|
26 |
|
16 |
|
9 |
|
11 |
|
8 |
|
7 |
|
–1 |
|
–1 |
|
42 |
|
33 |
|||
Gain/loss from disposals not qualifying as discontinued operations |
|
12 |
|
— |
|
— |
|
–1 |
|
— |
|
— |
|
— |
|
3 |
|
12 |
|
2 |
|||
Restructuring, impairment and transaction-related costs |
|
–19 |
|
–3 |
|
–13 |
|
–5 |
|
–33 |
|
–3 |
|
–54 |
|
–39 |
|
–119 |
|
–50 |
|||
Provision for EU investigation |
|
|
|
|
|
|
|
|
|
|
|
|
|
55 |
|
–231 |
|
55 |
|
–231 |
|||
Operating income |
|
199 |
|
211 |
|
95 |
|
140 |
|
122 |
|
208 |
|
–118 |
|
–394 |
|
298 |
|
165 |
|||
Net financial expenses and taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–182 |
|
–199 |
|||
Net result from continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
116 |
|
–34 |
|||
Result from discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
683 |
|
72 |
|||
Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
799 |
|
38 |
|||
Segment assets |
|
1 035 |
|
1 160 |
|
1 599 |
|
1 722 |
|
1 388 |
|
1 571 |
|
— |
|
— |
|
4 022 |
|
4 453 |
|||
Segment liabilities |
|
–180 |
|
–218 |
|
–164 |
|
–152 |
|
–172 |
|
–194 |
|
— |
|
— |
|
–516 |
|
–564 |
|||
Net operating assets |
|
855 |
|
942 |
|
1 435 |
|
1 570 |
|
1 216 |
|
1 377 |
|
— |
|
— |
|
3 506 |
|
3 889 |
|||
Segment assets reported as assets held for sale |
|
— |
|
— |
|
108 |
|
5 |
|
2 |
|
— |
|
|
|
|
|
110 |
|
5 |
|||
Corporate assets reported as assets held for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
|
2 |
|
4 |
|
2 |
|||
Segment assets of discontinued operations reported as assets held for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
683 |
|
1 298 |
|||
Assets held for sale |
|
— |
|
— |
|
108 |
|
5 |
|
2 |
|
— |
|
4 |
|
2 |
|
797 |
|
1 305 |
|||
Segment liabilities of discontinued operations reported as liabilities associated with assets held for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–263 |
|
–559 |
|||
Liabilities directly associated with assets held for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–263 |
|
–559 |
|||
Corporate assets without cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
1 105 |
|
1 275 |
|
1 105 |
|
1 275 |
|||
Corporate liabilities without financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
–1 751 |
|
–1 890 |
|
–1 751 |
|
–1 890 |
|||
Net debt (see note 19) |
|
|
|
|
|
|
|
|
|
|
|
|
|
–1 013 |
|
–1 343 |
|
–1 013 |
|
–1 343 |
|||
Total net assets |
|
855 |
|
942 |
|
1 543 |
|
1 575 |
|
1 218 |
|
1 377 |
|
–1 655 |
|
–1 956 |
|
2 381 |
|
2 677 |
|||
Thereof: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Investments in PPE and intangibles for the period |
|
53 |
|
68 |
|
141 |
|
81 |
|
56 |
|
78 |
|
24 |
|
13 |
|
274 |
|
240 |
|||
Investments in associates and joint ventures at the end of the period |
|
85 |
|
91 |
|
— |
|
108 |
|
63 |
|
46 |
|
5 |
|
3 |
|
153 |
|
248 |
|||
Reconciliation of key figures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Operating income |
|
199 |
|
211 |
|
95 |
|
140 |
|
122 |
|
208 |
|
–118 |
|
–394 |
|
298 |
|
165 |
|||
Add: systematic depreciation of PPE |
|
52 |
|
54 |
|
50 |
|
52 |
|
45 |
|
50 |
|
15 |
|
19 |
|
162 |
|
175 |
|||
Add: impairment |
|
— |
|
— |
|
3 |
|
— |
|
7 |
|
— |
|
1 |
|
— |
|
11 |
|
— |
|||
Add: depreciation of RoU assets |
|
9 |
|
10 |
|
6 |
|
5 |
|
19 |
|
21 |
|
16 |
|
18 |
|
50 |
|
54 |
|||
Add: amortization of intangible assets |
|
7 |
|
7 |
|
14 |
|
15 |
|
25 |
|
26 |
|
11 |
|
19 |
|
57 |
|
67 |
|||
EBITDA1 |
|
267 |
|
282 |
|
168 |
|
212 |
|
218 |
|
305 |
|
–75 |
|
–338 |
|
578 |
|
461 |
|||
Add: restructuring, impairment and transaction-related costs |
|
19 |
|
3 |
|
13 |
|
5 |
|
33 |
|
3 |
|
54 |
|
39 |
|
119 |
|
50 |
|||
Add: Provision for EU investigation |
|
|
|
|
|
|
|
|
|
|
|
|
|
–55 |
|
231 |
|
–55 |
|
231 |
|||
Less: impairment |
|
— |
|
— |
|
–3 |
|
— |
|
–7 |
|
— |
|
–1 |
|
— |
|
–11 |
|
— |
|||
Less: gain/loss from disposals not qualifying as discontinued operations |
|
–12 |
|
— |
|
— |
|
1 |
|
— |
|
— |
|
— |
|
–3 |
|
–12 |
|
–2 |
|||
Adjusted EBITDA |
|
274 |
|
285 |
|
178 |
|
218 |
|
244 |
|
308 |
|
–77 |
|
–71 |
|
619 |
|
740 |
|||
Operating income |
|
199 |
|
211 |
|
95 |
|
140 |
|
122 |
|
208 |
|
–118 |
|
–394 |
|
298 |
|
165 |
|||
Add: restructuring, impairment and transaction-related costs |
|
19 |
|
3 |
|
13 |
|
5 |
|
33 |
|
3 |
|
54 |
|
39 |
|
119 |
|
50 |
|||
Add: Provision for EU investigation |
|
|
|
|
|
|
|
|
|
|
|
|
|
–55 |
|
231 |
|
–55 |
|
231 |
|||
Less: gain/loss from disposals not qualifying as discontinued operations |
|
–12 |
|
— |
|
— |
|
1 |
|
— |
|
— |
|
— |
|
–3 |
|
–12 |
|
–2 |
|||
Adjusted operating income |
|
206 |
|
214 |
|
108 |
|
146 |
|
155 |
|
211 |
|
–119 |
|
–127 |
|
350 |
|
444 |
|||
|
|||||||||||||||||||||||
in CHF m |
|
31.12.2020 |
|
31.12.2019 |
|---|---|---|---|---|
Segment assets |
|
4 022 |
|
4 453 |
Segment assets reported as assets held for sale |
|
110 |
|
5 |
Corporate assets reported as assets held for sale |
|
4 |
|
2 |
Segment assets of discontinued operations reported as assets held for sale |
|
683 |
|
1 298 |
Corporate assets without cash |
|
1 105 |
|
1 275 |
Cash and cash equivalents |
|
737 |
|
638 |
Short-term deposits |
|
267 |
|
304 |
Financial instruments with positive fair values |
|
5 |
|
4 |
Total Assets |
|
6 933 |
|
7 979 |
in CHF m |
|
Sales1 |
|
Non-current assets2 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2020 |
|
2019 |
|
31.12.2020 |
|
31.12.2019 |
|||||
EMEA |
|
1 572 |
|
1 826 |
|
1 854 |
|
1 962 |
|||||
of which Germany |
|
432 |
|
507 |
|
1 138 |
|
1 264 |
|||||
of which Switzerland |
|
24 |
|
23 |
|
378 |
|
431 |
|||||
of which MEA |
|
274 |
|
338 |
|
21 |
|
25 |
|||||
North America |
|
703 |
|
862 |
|
895 |
|
1 031 |
|||||
of which USA |
|
656 |
|
802 |
|
882 |
|
1 015 |
|||||
Latin America |
|
457 |
|
556 |
|
140 |
|
178 |
|||||
of which Brazil |
|
191 |
|
234 |
|
75 |
|
106 |
|||||
Asia / Pacific |
|
1 128 |
|
1 155 |
|
536 |
|
513 |
|||||
of which China |
|
402 |
|
399 |
|
216 |
|
151 |
|||||
of which India |
|
168 |
|
134 |
|
123 |
|
149 |
|||||
Total |
|
3 860 |
|
4 399 |
|
3 425 |
|
3 684 |
|||||
|
|||||||||||||
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 2020 amounted to CHF 83 million (2019: CHF 100 million) and mostly were incurred in Business Area Natural Resources.
For a description of the Business Units see note 1.25.
These are plastic additives in the form of granules with dyestuffs or other additives used to dye or alter the properties of natural plastic. View entire glossary
Pigments are substances used for coloring; they are used in a technical manner, for example in the manufacture of dyes, varnishes, and plastics. View entire glossary
For the financial reporting, Clariant grouped its businesses in three core Business Areas: Care Chemicals, Catalysis, and Natural Resources. View entire glossary