Clariant: 2016 net income rose 16%.

(CercleFinance.com) - Clariant said on Thursday that sales and profitability increased in 2016, thanks to a shift to high margin specialities and sound cost management.


The Swiss chemical firm announced that its net income rose by 16% to 263 million Swiss francs on sales that were up 2% in local currency, at 5.85 billion Swiss francs.

For 2017, the company says it is confident that it will be able to achieve growth in local currency, as well as increases in its operating cash flow and Ebitda.

Last year Ebitda before extraordinary items increased by 4% in Swiss francs to 887 million Swiss francs.

Clariant expects that the uncertain environment, characterised by a high volatility in commodity prices and currencies, coupled with political uncertainties, will continue.

The group plans to propose a dividend that is up 12.5% at 0.45 Swiss franc per share.

After these numbers, Clariant shares were down 1.8 percent at 18.5 Swiss francs this morning in Zurich.

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