Clariant: Q1 sales hurt by China
(CercleFinance.com) - Swiss specialty chemicals company Clariant has posted pretty flat first-quarter sales on Tuesday, as continued weaker demand in China weighed on its top line performance.
Sales in the first three months of the year fell slightly to 1.71 billion Swiss francs from 1.72 billion Swiss francs one year ago, Clariant said in a statement on Tuesday.
The group - which makes pigments and minerals for textiles and cars - said both North America and Asia reported slightly negative growth in local currencies.
In plastics and coatings, sales declined by 2% in local currencies, the group said, largely as a result of the weaker than expected automotive and plastics markets, as well as the further economic slowdown, particularly in China.
The newly reported EBITDA after exceptional items reached 236 million Swiss francs, down from 256 million Swiss francs in the first quarter of 2018, giving a margin of 13.8%.
The share price is currently down 2.2% in Zurich in reaction to this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Sales in the first three months of the year fell slightly to 1.71 billion Swiss francs from 1.72 billion Swiss francs one year ago, Clariant said in a statement on Tuesday.
The group - which makes pigments and minerals for textiles and cars - said both North America and Asia reported slightly negative growth in local currencies.
In plastics and coatings, sales declined by 2% in local currencies, the group said, largely as a result of the weaker than expected automotive and plastics markets, as well as the further economic slowdown, particularly in China.
The newly reported EBITDA after exceptional items reached 236 million Swiss francs, down from 256 million Swiss francs in the first quarter of 2018, giving a margin of 13.8%.
The share price is currently down 2.2% in Zurich in reaction to this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.