International.
Specialty chemicals company Clariant announced its full-year 2015 sales results of 5.807 billion Swiss francs compared to 6.116 billion Swiss francs in 2014. This corresponds to a 3% growth in local currency, driven mainly by higher volumes. Due to the sharp monetary decline, the company confirmed that sales in Swiss francs decreased by 5%.
Growth in the Americas was good, with local currency sales up to 19% in Latin America and 4% in North America. In Europe it was 1% less in local currencies, affected by weaker end market demand.
This decline in growth came from the Asia/Pacific and Middle East and Africa region. Sales in Asia/Pacific declined by 1% in domestic currency and were affected by weak demand in China, which could not be offset by higher demand from smaller economies in Asia. In the Middle East and Africa region, sales were down 6% year-over-year in local currency.
"Despite the difficult economic environment throughout the year, we continue to improve our performance and show resilience," said CEO Hariolf Kottmann. "Clariant has significantly improved its cash flow and expanded its EBITDA margin to support the strong performance of the Care Chemicals, Catalysis and Natural Resources business areas. With this positive development, we have been able to offset the negative impact of the strong Swiss franc and deliver a net result comparable to 2014. For 2016, despite the expected economic environment will be even more demanding, we want to continue advancing in profitability and cash generation with the launch of new innovative solutions, especially in our business areas with a higher margin".
