MOSCOW (MRC) -- Clariant, a focused, sustainable, and innovative specialty chemical company, today announced its second quarter and first half year 2022 results. In the second quarter of 2022, continuing operations sales were CHF 1.301 billion, compared to CHF 1.032 billion in the second quarter of 2021, said the company.
This corresponds to an increase of 29 % in local currency, 25 % of which was organic, and 26 % higher sales in Swiss francs. For the fifth sequential quarter, both pricing and volume growth positively impacted the Group sales result by 20 % and 9 %, respectively, while the currency impact was -3 %. The particularly strong sales growth at Care Chemicals and Natural Resources outpaced the expansion at Catalysis.
In the second quarter of 2022, sales expansion was significant in all geographic regions. The 40 % sales growth in North America was followed closely by Latin America with a 39 % increase, underpinned by expansion in all three Business Areas. In Europe, the 29 % local currency growth was driven by strong expansion in Care Chemicals. The 22 % growth in Asia-Pacific was augmented by 25 % expansion in China, at Catalysis in particular. The Middle East & Africa also increased sales by 14 %.
In the second quarter of 2022, Care Chemicals increased sales by 46 % in local currency. This progress was driven by double-digit expansion in Consumer Care and Industrial Applications, especially Crop Solutions, Personal Care, Home Care, and Coatings. Catalysis sales rose by 8 % in local currency, primarily due to expansion in Specialty Catalysts and the emission-control businesses. Natural Resources sales increased by 24 % in local currency with growth attributable to all three Business Units, especially Additives.
The continuing operations EBITDA increased to CHF 216 million, and the corresponding 16.6 % margin clearly exceeded the 15.8 % reported in the second quarter of the previous year. This improvement was propelled by pricing measures that fully offset the increased raw material cost (approximately 36 %), supply chain constraints, and higher energy and logistics cost. Additionally, operating leverage from higher sales, and cost savings (CHF 4 million savings from performance programs) contributed positively to the margin expansion. The absolute EBITDA increased by 33 %, exceeding the underlying CHF 149 million (14.0 % margin) pre-pandemic level reported in the second quarter of 2019.
First Half Year 2022 – Further profitability improvement generated by specialty chemical portfolio, pricing, and cost discipline. In the first half year 2022, continuing operations sales were CHF 2.563 billion, compared to CHF 2.034 billion in the first half year 2021. This corresponds to an increase of 29 % in local currency, 25 % of which was organic, and 26 % in Swiss francs. Both pricing and volume growth had a positive impact on the Group of 18 % and 11 %, respectively, while the currency impact was -3 %.
In the first half year 2022, sales growth exceeded 20 % in local currency in all geographic regions. The particularly strong performance in North America is partly attributable to the weak comparison base of the first half year 2021, which was confronted with an especially challenging environment in Oil Services and weather-related disruptions in the first quarter of 2021.
We remind, Clariant has been awarded a major contract by Wanhua Chemical Group to supply catalysts for its new maleic anhydride plant, which will be one of the largest in the world. Designed to produce 200 kilotons of maleic anhydride annually, the plant will rely on Clariant’s SynDane catalyst for the production process. The facility will be located in Yantai city, Shandong province, and is scheduled to commence operation in 2023.