International. Specialty chemicals company Clariant announced total sales in Swiss Francs (CHF) of 5.847 billion (about $5.787 billion) in 2016, up from CHF 5.807 billion (about $5866 million) in 2015. This corresponds to a 2% growth in local currency, driven by higher volumes.
For the full year, local currency growth was strongest in Asia and the Middle East and Africa, at 4%. In Asia, strong growth was mainly supported by China and India. In North America and Europe, sales growth was 2%. Latin America grew at a level of 1%.
In Plastics and Coatings, sales in local currency grew by 4% to CHF 2,525 million. Net profit rose to CHF 263 million after CHF 227 million in the previous year. The year-on-year increase of 16% is due to the continued expansion of absolute EBITDA, lower financial costs and an improvement in the tax rate.
Looking ahead, Clariant expects the uncertain environment to continue, characterized by high volatility in commodity prices, currencies and political uncertainties. In emerging markets, the company anticipates that the economic environment will remain challenging and volatile; expects moderate growth in the United States, while growth in Europe is expected to remain stable.
