Clariant's plastics & coatings division increased sales by one per cent, with particularly strong regional expansion in Latin America.
February 12, 2019 by Canadian Plastics
Specialty chemical maker Clariant announced full year 2018 sales of CHF 6.6 billion (Cdn$8.7 billion) compared to CHF 6.3 billion in 2017, which represents a 5% growth driven by higher sales in all business areas.
In a statement, Swiss-based Clariant – which reports in Swiss francs (CHF) – said that sales in Latin America grew the strongest, by 12%. “Sales in Asia increased by 7%, bolstered by a particularly positive development in China and India,” Clariant said. “In North America, sales rose by 5%. Both Europe and the Middle East and Africa increased sales by 2%. The absolute profitability improvement was attributable to the positive contributions from Care Chemicals, and Catalysis. In Plastics & Coatings, sales rose by 1% in local currency with particularly strong regional expansion in Latin America.”
In the fourth quarter of 2018, meanwhile, Clariant’s sales rose by 3% in local currency to CHF 1.629 billion (Cdn$2.1 billion). “This represents a decrease of 3% in Swiss francs year-on-year due to unfavorable currency fluctuations. The sales growth in local currency was mainly driven by Catalysis and Natural Resources,” Clariant said. “Sales in Plastics & Coatings were 3% lower in local currency due to the softening demand in Asia and Europe in particular.”
Almost all regions contributed to Clariant’s Q4 2018 growth. “In the Middle East & Africa, sales in local currency grew by a robust 15% driven mainly by Catalysis,” Clariant said. “Sales in Latin America increased by 9% in local currency supported by Oil & Mining Services, in North America by a solid 3% and in Asia by 2 % with a slowing in China. Only sales in Europe had a negative growth of 2% largely due to the particularly challenging comparison base.”