Bloomberg News

Clariant Earnings Miss Estimates, Held Back by Franc, Demand

July 27, 2011

July 27 (Bloomberg) -- Clariant AG reported lower-than- expected profit in the second quarter, held back by a stronger swiss franc.

Earnings before interest, taxes, depreciation and amortization declined to 241 million francs from 264 million francs, the Muttenz, Switzerland-based chemical maker said in a statement today. JPMorgan analysts had predicted 293 million francs in earnings.

Clariant reiterated targets for the full year, yet flagged some businesses have seen the first signs of a slowdown in demand. The company purchased catalyst maker Sued-Chemie for $1.5 billion in April to diversify its offering from cyclical commodity markets and it said today that integration of the business is going according to plan.

To contact the editor responsible for this story: Andrew Noel at anoel@bloomberg.net


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