Clariant Q1 EBITDA Down, But Sales Up In Local Currency
(RTTNews) - Specialty chemicals company Clariant AG (CLZNY.PK, CRN.L, CLZNF.PK) on Tuesday reported a decline in its EBITDA for the first quarter, with flat sales year-over-year. However, organic sales grew 2 percent in local currency, driven by higher pricing in all business areas.
For the quarter, EBITDA after exceptional items slid 8 percent to 236 Swiss francs, while EBITDA before exceptional items declined 5 percent to 254 Swiss francs, both in local currency.
EBITDA margin before exceptional items was 14.8 percent and EBITDA margin after exceptional items was 13.8 percent in the quarter.
Clariant reported first-quarter sales of 1.715 billion francs, nearly same as last year's 1.722 billion francs.
Looking ahead, the Group said it is confirming its outlook for the full year 2021 to achieve above-market growth, higher profitability and stronger cash generation.