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Clariant (CLN) investor relations material
Clariant Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 sales were CHF 968 million, flat in local currency but down 8% in CHF due to currency effects; H1 2025 sales reached CHF 1,981 million, up 1% in local currency.
EBITDA before exceptional items rose 3% to CHF 169 million in Q2 (margin 17.5%, up 200 bps YoY), driven by Catalysts and Adsorbents & Additives; H1 EBITDA before exceptionals was CHF 359 million (18.1% margin, up 130 bps YoY).
CHF 80 million savings program underway, with CHF 12 million achieved in H1 and CHF 60 million restructuring charges booked; headcount reduced by 200 FTEs, two production lines and two sites closed.
Free cash flow conversion improved to 37% (LTM), and operating cash flow for H1 was CHF 116 million.
New SBTI-approved 2030 greenhouse gas reduction targets, digital platform CLARITY™ expanded, and safety performance reached top quartile industry level.
Financial highlights
Q2 2025 sales: CHF 968 million (flat in local currency, -8% in CHF); H1 2025 sales: CHF 1,981 million (up 1% in local currency, down 4% in CHF).
Q2 2025 EBITDA before exceptionals: CHF 169 million (+3% YoY, 17.5% margin); reported EBITDA fell 16% to CHF 139 million due to restructuring charges.
H1 2025 EBITDA before exceptionals: CHF 359 million (+3% YoY, 18.1% margin); reported EBITDA dropped 14% to CHF 291 million.
H1 2025 net income: CHF 44 million (down from CHF 176 million prior year), impacted by restructuring and CHF 30 million impairments.
Net debt at CHF 1,596 million (net debt/EBITDA: 2.6x reported, 2.4x before exceptionals), up from CHF 1,489 million at 2024 year-end.
Outlook and guidance
2025 sales growth guidance revised to 1–3% in local currency, down from previous 3–5%, reflecting weak industrial production and market uncertainty.
Full-year 2025 EBITDA margin before exceptionals confirmed at 17–18%; reported margin expected at 15.0–15.5%.
Medium-term targets (by 2027): 4–6% local currency sales growth, 19–21% EBITDA margin, ~40% free cash flow conversion.
Capex targeted at CHF 200 million for 2025; CHF 75 million restructuring charges expected.
Expect slight local currency growth in Care Chemicals and Adsorbents & Additives; Catalysts to remain flat YoY.
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