07.25.19
Clariant, a focused and innovative specialty chemical company, achieved first half year 2019 continuing operations sales of CHF 2.229 billion compared to CHF 2.224 billion in the first half year 2018. This corresponds to an organic growth of 4% in local currency. Both higher volumes and pricing contributed to this expansion.
For the first half year, almost all regions contributed to the continuing operations sales growth in local currency. Sales in Latin America grew the strongest by 10%, followed by the Middle East & Africa at 8%. In Asia and Europe, the sales development was a good 5% and 4%, respectively. China, however, was down by 9% while North America reported a contraction of 3%.
The net result for the total Group including discontinued operations was minus CHF 101 million versus CHF 211 million in the first half year 2018. The development was negatively impacted by one-time project costs related to the carve-out of the discontinued operations as well as the one-off provision of CHF 231 million.
Operating cash flow for the total Group rose by 11% to CHF 113 million from CHF 102 million in the previous year, driven by lower taxes and favorable developments in inventories.
Net debt for the total Group increased to CHF 1.801 billion versus CHF 1.374 billion as of the end of 2018 following the normal seasonal cash flow pattern. In addition, the first-time implementation of IFRS 16 in 2019 increased net debt by CHF 218 million.
For the first half year, almost all regions contributed to the continuing operations sales growth in local currency. Sales in Latin America grew the strongest by 10%, followed by the Middle East & Africa at 8%. In Asia and Europe, the sales development was a good 5% and 4%, respectively. China, however, was down by 9% while North America reported a contraction of 3%.
The net result for the total Group including discontinued operations was minus CHF 101 million versus CHF 211 million in the first half year 2018. The development was negatively impacted by one-time project costs related to the carve-out of the discontinued operations as well as the one-off provision of CHF 231 million.
Operating cash flow for the total Group rose by 11% to CHF 113 million from CHF 102 million in the previous year, driven by lower taxes and favorable developments in inventories.
Net debt for the total Group increased to CHF 1.801 billion versus CHF 1.374 billion as of the end of 2018 following the normal seasonal cash flow pattern. In addition, the first-time implementation of IFRS 16 in 2019 increased net debt by CHF 218 million.