Clariant enjoys ‘good start’ to 2011
Benefits from margin management and cost reduction initiatives
Speciality chemicals company Clariant has announced sales of CHF1.717bn for the first quarter of 2011, amounting to 5% year on year growth in local currencies and a 6% decline in Swiss francs, a result of the appreciation of the Swiss franc against most major currencies.
According to the supplier, trading conditions throughout the period remained stable with none of the restocking activities observed in the first quarter of 2010 and no significant impact on the business as a result of the unrest in North Africa or the earthquake in Japan. The company also benefited from a continued focus on margin management (sales prices improved 5% year on year) and from the impact of its 2009/10 cost reduction initiatives. Net income amounted to CHF120m, compared to CHF10m in the first quarter of 2010.
“Clariant had a good start to 2011 with a strong performance across the portfolio,” said ceo Hariolf Kottmann. “Our ongoing focus on delivering a sustainably better performance in the current businesses showed the expected results. By adding the recently acquired Süd-Chemie activities to our portfolio, Clariant will gain access to attractive new markets and to a strong R&D organisation focusing on market segments with significant growth potential.”
