Clariant hikes 2021 outlook as sales, margin increase

Its quarterly sales from continuing operations increased by 12% in local currency to 1.03 billion francs, while EBITDA margin jumped to 16.8% from 14.6% in the year-ago period. For the third quarter, Clariant expected continued strong growth in local currency year-on-year, underpinned by expansion in all three Business Areas.

Clariant AG increased its outlook on Thursday, as the Swiss specialty chemicals maker saw local currency sales growth of 7% to 9% and a step-up in its EBITDA margin to 16%-17%.

The company said its second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) rose 28% to 173 million Swiss francs ($190.32 million). Its quarterly sales from continuing operations increased by 12% in local currency to 1.03 billion francs, while EBITDA margin jumped to 16.8% from 14.6% in the year-ago period.

For the third quarter, Clariant expected continued strong growth in local currency year-on-year, underpinned by expansion in all three Business Areas. It aimed to beef up year-on-year margins in the quarter via volume growth, cost discipline, and pricing action to overcome the rise in raw material and logistics costs. The market had on average expected second-quarter EBITDA of 160 million francs on sales of 992 million, according to a consensus compiled for the company.

($1 = 0.9090 Swiss francs)