International. Clariant announced first-half 2017 sales of $3.239 billion versus $2.998 billion in 2016. This corresponds to a growth of 9% in local currency thanks to the double-digit expansion in Catalysis and Natural Resources. Organic growth reached 5%, driven by higher volumes.
Growth was most pronounced in Europe, Asia and North America. Sales in Europe increased by 8%, while the 11% advance in Asia was supported by strong sales development in China. Sales in North America increased by 14%. Latin American sales were 3% lower against a solid comparable base and also reflect the macroeconomic environment that remains challenging.
Clariant expects the uncertain environment, characterized by high volatility in commodity prices, currencies, as well as political uncertainties, to continue. In emerging markets, he anticipates that the economic environment will remain challenging and volatile; and forecasts moderate growth in the United States, while growth in Europe is expected to remain stable.
For 2017, despite a continuously challenging economic environment, Clariant is confident of being able to achieve growth in local currency, as well as progression in operating cash flow, absolute EBITDA and EBITDA margin before exceptional items.
