COVID concerns sees Clariant sales decrease in first part of year

A Clariant plant
A Clariant plant
Clariant has announced that continuing operations sales in the first half of the year amounted to CHF $1.945 billion compared to CHF $2.229 billion over the same period in 2019.
The sustainable and innovative speciality chemical company said the group was confronted with a significantly lower demand environment in several segments in the first six months of 2020 as a result of the COVID-19 pandemic.
Clariant said it continues to ensure employee safety first while concurrently running business continuity programmes and implementing cash as well as cost measures.
The company said that in the first half year the Middle East, Africa and Asia remained resilient, with China and South East Asia demonstrating solid growth.
It added that sales in Latin America increased in local currency, while Europe and North America weakened more significantly due to demand declines across all business areas.
Hariolf Kottmann, executive chairman ad interim of Clariant, said: “Despite the uncertainties surrounding the current economic environment, the growth profile of our core portfolio remains undiminished.
“We will continue to focus on mitigating the impact of this pandemic and will progress with Clariant’s transformation program. This will enable Clariant to realise above-market growth, higher profitability and stronger cash generation.”
A Clariant plant