Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Clariant reports first-quarter profit above expectations, replaces CFO

Published by Global Banking and Finance Review

Posted on April 29, 2025

Featured image for article about Finance

By Dimitri Rhodes

(Reuters) -Swiss specialty chemicals maker Clariant reported a smaller-than-expected fall in first-quarter core profit on Tuesday as growth in care chemicals, absorbents and additives outweighed a seasonal decline in catalysts.

The group also said its board of directors has appointed Oliver Rittgen as chief financial officer from August 1 to succeed the retiring Bill Collins.

Clariant confirmed its 2025 and medium-term targets.

Following an unprecedented drop in order volumes from soaring energy prices and high inflation since 2022, the energy-intensive chemicals sector is now facing up to the prospect of U.S. import tariffs of at least 10%.

"We should be in a position to pass these (tariffs) on to our customers," CEO Conrad Keijzer said in a press call. "We obviously don't like that, but we have to do that."

Clariant shares were up 5.2% by 1028 GMT, leading the Swiss mid-cap index.

The company, whose chemicals are used in the production of smartphones and electric vehicles, says its focus is on locally produced specialty products with little-to-no local competition, especially in its catalyst unit.

In the U.S., 70% of products are made locally, while in China, the group will open two new factories by 2026 to bring local production up from 50% to 70%, Keijzer told journalists. In Europe, that figure is as high as 90%, he added.

"Nonetheless, we believe the lower global outlook could impact expectations for Additives & Adsorbents, for the industrial exposure of Care Chemicals and potentially even further slow down the refill business in Catalysts," analysts at Baader said in a note.

Clariant's earnings before interest, taxes, depreciation and amortisation (EBITDA) after exceptional items fell 12% year-on-year to 152 million Swiss francs ($185 million) in the first quarter.

Analysts, on average, had forecast 144 million francs in a company-provided poll.

"It seems the earnings beat is likely due to much better than expected cost management," analysts at JPMorgan wrote.

($1 = 0.8238 Swiss francs)

(Reporting by Dimitri Rhodes; Editing by Janane Venkatraman, Christian Schmollinger and Jan Harvey)