Clariant (CLN) Q3 2026 earnings summary

Executive summary

• Q3 sales were CHF 968.8m, up 5.6% in local currency; growth in Care Chemicals and Adsorbents & Additives offset Middle East-related Catalysts pressure.

• EBITDA before exceptional items was CHF 151.5m, down 6.5% YoY; margin fell 230 bps to 15.6%.

• FY 2026 guidance remained unchanged, supported by a strong Q4 order book and performance-improvement programs.

Financial highlights

• Q3 sales rose 6.9% in CHF and 5.6% in local currency; pricing added 5.7%, volume fell 0.1%, scope was flat, and currency added 1.3%.

• EBITDA before exceptional items fell 6.5% to CHF 151.5m; reported EBITDA declined 9.3% to CHF 144.0m, with higher restructuring charges contributing.

• 9M sales were CHF 2,828.1m, up 1.0% in local currency and 2.1% excluding portfolio pruning; EBITDA before exceptional items fell 7.3% to CHF 482.8m.

• 9M EBITDA before exceptional items margin was 17.1% versus 18.0%; reported EBITDA was CHF 444.2m, down 1.3%, with reported margin up 10 bps to 15.7%.

Outlook and guidance

• FY 2026 guidance: flat sales growth in local currency, ~18% EBITDA margin before exceptional items, and free cash flow conversion above 45%.

• Portfolio pruning is expected to reduce FY 2026 sales by 1% at Group level and 2% in Care Chemicals.

• Q4 order books are strong, particularly in Catalysts; growth is expected in Adsorbents & Additives, slight underlying growth in Care Chemicals, and lower full-year sales in Catalysts versus 2025.

• Performance programs target CHF 90m run-rate savings in 2026 and CHF 100m by 2027; medium-term targets remain 4%–6% sales growth and 19%–21% EBITDA margin.