Clariant reports positive 2004 results
Swiss specialty chemical company Clariant has reported positive results for the fiscal year 2004. Sales increased by 7 % to reach CHF8.530 billion ($7.296 billion). Functional chemicals reported a 15 % increase in sales while textile, leather and paper chemicals reported a rise of 3%.
“These results clearly show Clariant is back and competing with the best in the industry,” said Chief Executive Officer Roland Loesser. “There is still a lot of work to be done, but we can be proud of the achievements of the past year.”
Price increases were achieved in the fourth quarter in several product lines, bringing the average price erosion for the full year from above 3% down to 2%. The company said it expects to continue increasing prices in 2005.
Growth was strong across most business units, particularly in service-driven areas, such as coatings, textile chemicals and performance chemicals. Businesses that continued to face pressure include textile dyes and pharma chemicals, where overcapacities in the industry prevented a satisfactory performance.
Functional chemicals reported a 15% increase in sales in local currency terms, followed by Masterbatches, at 8%, Pigments & Additives at 6% and Textile, Leather & Paper Chemicals, at 3%. Only Life Science Chemicals posted negative numbers, with a 4% decline.
