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- Q2 sales up 14% in local
currencies on solid business fundamentals and price increases, but down 1% in
CHF as Swiss franc continued to appreciate. Süd-Chemie results consolidated for
May and June 2011.
- Q2 EBITDA before exceptional
items at CHF 241 million, down from CHF 264 million a year ago, negative
currency impact of CHF 69 million.
- Q2 EBITDA margin before
exceptional items reached 12.9% compared to 13.9% a year ago; Q2 EBITDA margin
at constant currencies 14.3%.
- Q2 cash flow from operations
of minus CHF 101 million as inventories rose due to relocation of production
assets and the usual seasonality.
- Integration of Süd-Chemie
progressing as planned.
- Outlook: Clariant expects a
more difficult but nevertheless solid business environment in H2 2011,
characterized by softening demand. Based on this scenario, no further
deterioration in currency markets assumed, and including Süd-Chemie consolidated
for eight months, Clariant confirms its guidance for the full-year 2011 with
sales between CHF 7.8 - 8.0 billion and an EBITDA margin of 13.5% -
14.5%.
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