Clariant: H1 net income -24% at CHF176m

(CercleFinance.com) - Clariant has reported Q2 2024 sales of 1.
056bn CHF, down 3% organically in local currency (3% in Swiss francs) on Q2 2023.

Reported Group EBITDA fell by 5% to 166m CHF, with a corresponding margin of 15.7% below the 16.1% margin recorded in Q2 2023.

H1 2024 sales totaled 2.070bn CHF, down 7% in local currency (- 5% organic in local currency) and down 9% in Swiss francs.

Group EBITDA fell by 1% y-o-y to 339m CHF. Total group net income was 176m CHF, -24% from 232m CHF the previous year.

For FY 2024, Clariant's reported EBITDA margin is expected to improve to around 16%, up 100 bp from the previous estimate of around 15%. The group also expects stable to low single-digit sales growth in local currency.

For 2025, Clariant expects to achieve an EBITDA margin of 17% to 18% and a free cash flow conversion rate of around 40% at the targeted level.


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