Clariant sales rise 13% in Q1
Speciality chemicals supplier enjoys strong financial quarter, but says sales are still not at pre-crisis levels
Speciality chemicals supplier Clariant has announced sales of CHF1.817bn in the first quarter of 2010, compared to CHF1.604bn in the prior year period, an increase of 13% in Swiss francs and 16% in local currency. But it admitted that sales were still clearly behind pre-crisis levels.
“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,” commented ceo Hariolf Kottmann.
Regionally, sales growth was driven by Asia – in particular China with a 65% rise in sales in local currency. Both Europe and North America also showed double-digit sales growth. Growth in Latin America was slightly less, as the region showed resilience against the downturn in 2009.
Despite this favourable start to 2010, the company intends to continue its restructuring efforts and as such will further reduce job positions as well as continue site and plant consolidation throughout the year.
