Swiss specialty chemicals company Clariant AG (CLZNF.PK, CLZNY.PK) reported Tuesday a higher profit in its first quarter, benefited by higher volumes. Looking ahead for fiscal 2013, the company projects growth in sales and profitability.
In its first quarter, the company's net result from continuing operations climbed to 38 million Swiss francs from last year's 16 million francs.
EBITDA margin before exceptional items was 13.7 percent, compared to 13.9 percent a year ago.
Clariant's sales from continuing operations edged up 1 percent to 1.53 billion francs from 1.51 billion francs a year ago. Sales increased 2 percent in local currencies. Organic growth of 2 percent was primarily the result of higher volumes.
CEO Hariolf Kottmann said, "Clariant had an encouraging start to the year as sales continued to grow and margins remained robust under stabilizing economic conditions. While the Group concentrated on disciplined cost management and the execution of the announced portfolio measures, the businesses turned their attention to intensifying growth and fostering innovation."
Looking ahead, for full-year 2013, Clariant expects further progress in sales and profitability compared to 2012 by focusing on growth and continuous cost efficiency.
Clariant said it expects a persisting soft macroeconomic environment, characterized by high volatility. While solid growth in the emerging markets is most likely, no significant growth impulses are expected from the European and North American economies.
For the mid-term, Clariant confirms its 2015 targets of an EBITDA margin of above 17 percent and a return on invested capital above the peer-group average.
For comments and feedback: editorial@rttnews.com