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For the months of July to September, the group reports 14 percent lower sales of 893 million francs, a statement revealed Thursday. Half of the drop is due to currency effects.
Because in local currency, sales would only have fallen 7 percent. In the first nine months of 2020, Clariant posted sales of 2.84 billion Swiss francs, 6 percent less in local currencies than a year ago.
The specialty chemicals maker’s business has not really improved after the end of the crown-related lockdown. In the first half there was still less than 5 percent on the books.
The pandemic leaves its mark
The Covid-19 pandemic also had “significant” negative effects on several major end markets in the third quarter, CEO Hariolf Kottmann explains in the press release.
The Natural Resources division, which has a large number of its clients in the oil, mining and automotive industries, was particularly affected.
The lower capacity utilization was reflected in profitability. Clariant Reports an EBITDA of Operating Profit of 127 Million Francs for the Third Quarter; that’s 16 percent less than last year.
