February 13, 2019 / 6:23 AM / 4 months ago

Clariant says Q4 sales, operating profit fell

ZURICH, Feb 13 (Reuters) - Clariant’s fourth-quarter sales and operating profit fell, as the Swiss specialty chemicals maker saw its plastics and coatings business hurt by softening demand in Asia and Europe and exchange rates wiped out underlying sales growth.

Earnings before interest, taxes, depreciation and amortisation excluding exceptional items fell 2 percent to 253 million Swiss francs ($251.6 million), compared to the average 260 million francs in a Infront Data poll of analysts. Sales slipped 3 percent to 1.63 billion francs, compared to the poll’s 1.7 billion average.

The Muttenz-based company that is about a quarter-owned by Saudi Arabia’s Saudi Basic Industries (SABIC) proposed a higher dividend and confirmed its 2021 guidance, calling for above-market growth, higher profitability and stronger cash generation. ($1 = 1.0054 Swiss francs) (Reporting by John Miller; Editing by Michael Shields)

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