Clariant (CLN) Baader Helvea North America Chemical Roadshow Presentation summary

Strategy and portfolio transformation

• Focused on specialty chemicals, with a purpose-led strategy: "Greater chemistry – between people and planet."

• Portfolio transformation since 2019, divesting Masterbatches and Pigments, now centered on Care Chemicals, Catalysts, and Adsorbents & Additives.

• Group targets: 4–6% sales growth CAGR, 19–21% EBITDA margin, ~40% FCF conversion, and top quartile employee engagement.

• Sustainability and innovation are core, with ambitious 2030 targets for emissions, diversity, and circularity.

• Enhanced exposure to consumer markets and sustainable product demand, especially in Care Chemicals and Additives.

Business performance and Q1 2024 results

• Q1 2024 sales CHF 1,014m, down 11% in CHF and 6% organically, with stabilized volumes and lower pricing.

• EBITDA margin improved to 17.1% (Q1 2023: 13.9%), driven by margin management, cost discipline, and reduced sunliquidⓇ impact.

• Care Chemicals: Sales CHF 581m (-17%), EBITDA margin 21.2%; volume up 2% organically, price down 6%.

• Catalysts: Sales CHF 187m (-9%), EBITDA margin 13.4%; volume down 2%, price flat.

• Adsorbents & Additives: Sales CHF 246m (-16%), EBITDA margin 14.6%; volume down 7%, price down 4%.

Regional and segment trends

• Americas: Organic sales up 4% (volume), led by Catalysts and Care Chemicals; EMEA declined across all units.

• Asia-Pacific: Sales down 4% organically; China up 5% organically, driven by Care Chemicals and Adsorbents & Additives.

• Continued investment in China, with new plants and R&D centers to drive local growth.