Clariant, a world leader in specialty chemicals saw sales for the first half of 2017 rise nine per cent. Organic growth amounted to five per cent driven by higher volumes. Growth was most pronounced in Europe, Asia and North America. Sales in Europe rose eight per cent while recorded 11 per cent growth in Asia supported by the strong sales development in China. Sales in North America increased 14 per cent. Latin American sales were three per cent lower against a strong comparable base and also reflect the macroeconomic environment which remains challenging.
Net income soared by 20 per cent. This expansion was supported by improvement in absolute Ebitda before exceptional items as well as lower finance costs. Good growth dynamics in June and the expected favorable demand in coming quarters led to higher net working capital. This factor together with changes in other current assets and liabilities offsets the positive influence of the Ebitda improvement.
Net debt increased slightly. This reflects the usual seasonal increase seen in the first half of the year. For 2017, Clariant is confident of achieving targets i.e. growth in local currency, progression in operating cash flow, absolute Ebitda and Ebitda margins before exceptional items in spite of a temporarily weaker cash flow in the first half.
