Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2023 03 02T061935Z 1 LYNXMPEJ2106J RTROPTP 4 CLARIANT RESULTS
2023 03 02T061935Z 1 LYNXMPEJ2106J RTROPTP 4 CLARIANT RESULTS

Switzerland’s Clariant sees slight sales drop in 2023


(Reuters) -Clariant said on Thursday it expects annual sales to slightly decline in 2023 after reporting sales for the full year fairly in line with expectations, driven by catalyst chemicals.

The company, whose chemicals are used in personal and home care products, said it expects 2023 sales of around 5 billion Swiss francs ($5.30 billion), down from 5.198 billion a year earlier.

The outlook included a net negative impact of around 130 million francs from divestments and a bolt-on acquisition, the company said.

It also expects an increasing negative annualized hit from the Sunliquid plant in Romania and a persisting inflationary environment.

“In the fourth quarter of 2022, pricing continued to have a significant positive impact on sales growth and EBITDA margin, despite softer end markets in some businesses,” Chief Executive Officer Conrad Keijzer said in a statement.

In recent months, Clariant has managed to offset raw materials and energy costs hitting the industry by passing them on to customers through price increases.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Clariant said it aimed to improve reported group core profit margin level in 2023, as it expects a continued recovery in its catalysts business to offset lower sales volumes in its other units.

Catalyst sales rose 18% in local currency in the fourth quarter, mainly driven by volume growth.

The company said in October it expected prices for raw materials and energy to have peaked.

($1 = 0.9426 Swiss francs)

(Reporting by Linda Pasquini and Marta Frackowiak; Editing by Christopher Cushing and Sonia Cheema)

 

Recent Post: