Clariant
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Clariant (CLN) investor relations material

Clariant Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary26 Feb, 2026

Executive summary

  • Achieved third consecutive year of EBITDA margin improvement, reaching 17.8% before exceptional items, up 180 basis points year-over-year, driven by performance improvement programs and cost productivity.

  • FY 2025 sales were CHF 3.915 billion, flat in local currency but down 6% in Swiss francs due to currency headwinds; strong price management and stable volumes.

  • Free cash flow conversion improved to 42%, meeting medium-term targets ahead of schedule.

  • Significant progress in sustainability, with SBTi-approved GHG targets and top 1% ESG ratings.

  • Net loss of CHF 41 million for FY 2025, mainly due to a CHF 230 million non-cash translation adjustment from Venezuela divestment and portfolio pruning.

Financial highlights

  • Sales: CHF 3.915 billion (0% local currency growth, -6% in CHF year-over-year).

  • EBITDA before exceptional items: CHF 697 million (margin 17.8%, up 180 bps year-over-year).

  • Free cash flow: CHF 273 million, up from CHF 209 million in 2024.

  • Net debt/EBITDA before exceptional items improved to 2.03x.

  • Proposed stable shareholder distribution of CHF 0.42 per share.

Outlook and guidance

  • 2026 sales in local currency expected to be flat, with EBITDA margin before exceptional items targeted at around 18%.

  • Portfolio pruning expected to reduce top-line by ~1% (Group) and 2% (Care Chemicals).

  • Medium-term targets reaffirmed: 4–6% local currency sales growth, 19–21% reported EBITDA margin, ~40% free cash flow conversion by 2027.

  • Cost savings from performance improvement program to be delivered by 2027.

  • Macroeconomic challenges and inflationary pressures expected to persist.

What drives remaining performance program savings
Explain FY25 net loss beyond CTA impact
Catalysts new-built activity outlook for 2026
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Frequently asked questions

Clariant AG is a Swiss specialty chemicals company that develops, manufactures, and markets a wide range of chemicals and solutions for various industries. Its product portfolio includes additives, catalysts, pigments, and surfactants, which serve sectors such as agriculture, personal care, automotive, construction, and energy. Clariant focuses on creating innovative and sustainable solutions that improve product performance and environmental impact, supporting the transition to greener technologies and processes. The company is headquartered in Muttenz, Switzerland, and its shares are listed on the SIX.

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