Better demand gives Clariant a lift in Q1
Specialty chemicals provider Clariant has posted sales of CHF1.8 billion ($1.7 billion) during the first quarter of 2010 compared with CHF1.6 billion the previous year. This showed an increase of Swiss francs and 16% in local currency.
Sales improved significantly compared to the low base a year ago, particularly in the pigments, additives, leather and masterbatches business units. At a regional level, growth in Asia, and particularly in China (with local currency sales growth of +65%), outperformed the other regions compared with the first quarter of 2009. Europe and North America showed double-digit sales growth while Latin America remained slightly behind.
CEO, Hariolf Kottmann, commented: “We have made good progress in our restructuring efforts and continued to deliver solid results on the back of lower costs, higher capacity utilisation and an improved demand due to an economic environment that developed more favourably than expected. Going forward, we expect the economic recovery to remain fragile and raw material costs to further rise heading into the seasonally weaker second half of the year. Consequently, we do not anticipate an operating performance at the same strong level of the first quarter.
