Regions :: Western Europe :: Switzerland
Clariant Posts Improved Earnings As Cost Savings, Higher Prices Offset Lower Sales
7:24 AM MDT | May 6, 2011 | Natasha Alperowicz
Clariant's cost-reduction initiatives implemented during 2009-10 have paid off with the company reporting an increase in first-quarter 2011 earnings and higher profit margins. Ebitda before special items was 18% higher at SF277 million ($322.3 million) and profit margins advanced to 16.1% compared with 12.9% in the first quarter of 2010. Clariant's first-quarter sales were down 6%, to SF1.7 billion, however, due to the appreciation of the Swiss franc against most major currencies. Sales prices improved 5% year on year as Clariant continued to implement its...
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