Switzerland. Clariant announced that its sales during the first quarter of 2019 exceeded $1.7 billion (1.715 billion Swiss francs), compared to $1.707 billion (CHF 1.722 billion) in the same period of 2018. This corresponds to 2% organic growth in the local currency driven by higher prices in all business areas.
"In the first three months of this year, Clariant generated continued organic sales growth despite the challenging macroeconomic environment," says Ernesto Occhiello, CEO of Clariant. The company reports that the improvement in sales performance in the first quarter of 2019 was due to expansion in the Care Chemicals, Catalysis and Natural Resources business areas.
Sales at Care Chemicals increased by 2% in local currency, although they were affected by the aviation business due to the mild climate. In turn, Catalysis sales grew by 4% in local currency compared to a record Q1 the previous year. Natural Resources' sales accelerated 10% in local currency, mainly due to good demand for mining and oil services, but also strong growth in functional minerals.
It should be noted that the EBITDA reported after the exceptional items reached close to USD 234 million (CHF 236 million) with a corresponding margin of 13.8%.
At the regional level, sales development in Latin America, Europe, the Middle East and Africa reflected single-digit growth in local currency. Both North America and Asia reported slightly negative growth of 1%. Continued weaker demand in China negatively influenced the company's sales development in the first quarter.
