Clariant AG (CLZNY.PK, CLZNF.PK), a Swiss speciality chemical company, reported that its Group EBITDA for the second quarter decreased by 16% year-over-year to 139 million Swiss francs due to 22 million francs of restructuring charges being booked during the quarter.
Group EBITDA before exceptional items for the quarter was 169 million francs, an increase of 3% from the prior year. This was the result of operating leverage and margin management in Catalysts, while a positive mix and benefits from the performance programs drove the improvement in Adsorbents & Additives. Increased raw material costs (+ 1 %) were offset by pricing, while energy costs were flat.
Quarterly sales were 968 million francs. This represents a similar sales level in local currency versus the second quarter the prior year, as both pricing and volumes were stable. Sales in Swiss francs declined by 8 % year on year due to significant currency headwinds, particularly driven by the weaker US dollar.
For 2025, Clariant now anticipates local currency sales growth of 1 to 3 percent. This marks a downward adjustment from its earlier projection, which had estimated growth at the lower end of the 3 to 5 percent range.
Clariant expects continued profitability improvement in 2025 by delivering an EBITDA margin before exceptional items of between 17% and 18%.
Clariant therefore to expect its reported EBITDA margin for 2025 to be between 15.0 % and 15.5 %. Clariant also expects to make further progress toward the targeted 40 % free cash flow conversion during 2025.
Clariant reiterates its commitment to its medium-term targets, to be achieved by 2027 at the latest: 4 - 6 % local currency sales growth; 19 - 21 % reported EBITDA margin; and around 40 % free cash flow conversion.
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