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For the months from July to September, the group reports a drop in sales of 14% equal to 893 million francs, a statement revealed Thursday. Half of the decline was due to currency effects.
Because in local currencies, sales would only drop by 7%. In the first nine months of 2020, Clariant recorded sales of 2.84 billion francs, 6% less in local currency than a year ago.
Activity at the specialty chemicals manufacturer did not really improve after the end of the corona related lockdown. In the first half, there was still less than 5 percent on the books.
The pandemic leaves its mark
The Covid 19 pandemic also had “significant” negative effects on many of the major end markets in the third quarter, CEO Hariolf Kottmann explains in the press release.
The Natural Resources division, which has a large number of clients in the oil, mining and automotive sectors, was particularly hard hit.
The lower capacity utilization had an impact on profitability. Clariant reports EBITDA operating profit of 127 million francs for the third quarter; which is 16 percent less than last year.
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