MOSCOW (MRC) -- Clariant AG reported that its third-quarter EBITDA before exceptional items was 208 million Swiss francs compared to 207 million francs in the same time period last year, said Rttnews.
".... The differentiated business steering in Plastics & Coatings continued to positively impact the profitability improvement. We are therefore on track to achieve our targets for the full year 2016," said CEO Hariolf Kottmann.
Quarterly sales grew by 2% in local currency to 1.400 billion francs. Volumes were up by 3% compared to the same period last year.
For 2016, in spite of the increasingly challenging economic environment, Clariant is confident to achieve growth in local currency, as well as progression in operating cash flow and EBITDA margin before exceptional items.
Clariant confirmed its mid-term target of reaching a position in the top tier of the specialty chemicals industry. This corresponds to an EBITDA margin before exceptional items in the range of 16% to 19% and a return on invested capital (ROIC) above the peer group average.
As MRC informed earlier, Clariant, a world leader in specialty chemicals, will broaden its collaboration with Engineering Plastics division of Shinkong Synthetic Fibers Corp. to promote Clariant's non-halogenated flame retardants to a host of applications in China.
Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints.
MRC