Unfavourable foreign exchange rates and tough economic conditions force changes
Swiss speciality chemicals supplier Clariant has adjusted its guidance for the full year 2011. According to the company, unfavourable foreign exchange rate developments and a softening of the global economy have had a negative impact on its operating business.
Sales are expected to be between CHF7-7.2bn, while Clariant says the EBITDA margin before exceptional items should reach between 12.8-13.2%, still above the 12.7% reported in the last business year.
“We confirm our mid-term target of an EBITDA before exceptionals of above 17% for 2015,” commented ceo Hariolf Kottmann. “This is based on an improvement in our competitive position resulting from the global asset network optimisation programme, further savings as well as a successful integration of Süd-Chemie, which will substantially contribute to the group’s performance in the coming years.”