Clariant significantly increased profitability in the third quarter of 2021 on the back of double-digit sales growth.
The company announced that Q3 2021 sales from continuing operations increased by 23% in the local currency and Swiss francs to CHF 1.096 billion (€1.029 billion). The sales growth was achieved via higher volumes and strong pricing in all business areas and across all regions.
Clariant grew sales in almost all regions in Q3, reflecting a ‘continuing, clear demand recovery’. In Europe, the strong 27% growth in local currency was supported by strong demand in industrial and consumer applications, and Latin America grew at the same pace. Asia and North America followed closely with 23% and 22% higher sales, respectively. The development in the Middle East and Africa region was ‘flat’.
“In the third quarter of 2021, Clariant delivered particularly high year-on-year revenue growth and also successfully increased performance,” said Conrad Keijzer, CEO of Clariant.
“The completed construction of our first commercial sunliquid® cellulosic ethanol plant represents a major milestone for Clariant and is a further key proof point of our ambitious growth strategy.
“Clariant’s ability to clearly increase the profitability level was attributable to strong growth in our relevant end markets and our ability to partially offset the effects of raw material cost inflation, logistics challenges and rising energy cost through strong pricing.
“Our full-year 2021 outlook remains positive. Based on the strong performance of the first nine months, we are increasing our full-year local currency sales growth expectation and continue to forecast a step-up in EBITDA margins to above pre-COVID-19 pandemic levels.”
Clariant has completed the construction of its first commercial sunliquid cellulosic ethanol plant in Podari, Romania. The completed construction marks an important next step for the ramp-up and commercial deployment of sunliquid technology and thus supports Clariant’s sunliquid licensing business strategy. The facility will produce ethanol from agricultural residues.
Co-products from the process will be used to generate renewable energy, making the production plant independent of fossil energy sources. Therefore, the resulting cellulosic ethanol is an almost carbon-neutral second-generation biofuel.
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