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Last $19.98 USD
Change Today -0.92 / -4.40%
Volume 7.2K
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

clariant ag-unsponsored adr (CLZNY) Key Developments

Evonik Reportedly Mulls Takeover Bid For Clariant And Other Firms

Evonik Industries AG (DB:EVK) is considering a takeover bid for Clariant AG (SWX:CLN), according to people familiar with the matter. "Evonik is considering a bid for Swiss peer Clariant to create a group with a market value of more than €20 billion ($22 billion),” but several sources familiar with the situation said it had also looked at Koninklijke DSM N.V. (ENXTAM:DSM) and Croda International plc (LSE:CRDA). Two of the sources said that work on a potential Clarianttie-up had passed a purely exploratory stage, while another source said that Clariant had not received any bid from Evonik. "Has someone leaked it to kill the deal at an early stage? "a source familiar with Evonik's thinking said, adding thatClariant and its owners had not been receptive to approaches from peers. Evonik has been reviewing options in recent months, these people said, as the German company has been looking to join the wave of M&A in the chemicals sector. Evonik said it did not comment on any market rumours. Clariant and CVC declined to comment.

Clariant Opens New Packaging Facility in Dongguan, China

Clariant has opened a new packaging facility in Dongguan, China. The Dongguan plant, located in Guangdong province in southeast China, will enhance Clariant's existing portfolio of controlled atmosphere packaging solutions. Under Clariant Business Unit Masterbatches, the Dongguan plant specializes in the manufacture of a full range of high quality desiccant packets primarily for customers in the pharmaceutical, nutraceutical and food industries but also for a range of complementary active packaging products. The Dongguan plant expands Clariant's current production and service network in China.

Clariant AG Presents at Nomura Global Chemicals Industry Leaders Conference 2015, Mar-26-2015

Clariant AG Presents at Nomura Global Chemicals Industry Leaders Conference 2015, Mar-26-2015 . Venue: London, United Kingdom.

Clariant AG Announces Earnings Results for the Fourth Quarter and Full Year of 2014; Provides Earnings Guidance for the Year 2015

Clariant announced earnings results for the fourth quarter and full year of 2014. For the fourth quarter, the company reported sales of CHF 1,586 million against CHF 1,563 million a year ago. EBITDA before exceptional items was CHF 232 million against CHF 235 million a year ago. EBIT before exceptional items was CHF 159 million against CHF 157 million a year ago. EBIT was CHF 234 million against CHF 93 million a year ago. Net result from continuing operations was CHF 133 million against CHF 85 million a year ago. Net income was CHF 132 million against CHF 80 million a year ago. Operating cash flow was CHF 321 million against CHF 261 million a year ago. Net income from continuing operations increased mainly due to the gain on a land sale in India, which overcompensated higher taxes in fourth quarter of 2014 compared with the previous year. On an adjusted EPS basis, earnings were fairly stable at CHF 0.3 compared to CHF 0.32 in the previous year. For the year, the company reported full-year sales from continuing operations of CHF 6.116 billion compared to CHF 6.076 billion in full-year 2013, an increase of 5% in local currencies, mainly driven by higher volumes (+4%). Swiss francs sales were increased by 1%. EBITDA before exceptional items was CHF 867 million against CHF 858 million a year ago. EBIT before exceptional items was CHF 585 million against CHF 574 million a year ago. EBIT was CHF 525 million against CHF 470 million a year ago. Net result from continuing operations was CHF 235 million against CHF 323 million a year ago, mainly due to favorable one-time tax benefit in 2013. Net income was CHF 217 million against CHF 5 million a year ago. Operating cash flow was CHF 334 million against CHF 301 million a year ago. Net debt was reduced to CHF 1.263 billion from CHF 1.500 billion recorded at year-end 2013. For 2015, the company expects low to mid-single digit sales growth in local currencies. In light of the volatile economic conditions, the company currently does not anticipate achieving its mid-term EBITDA margin target in 2015. However, the company will further increase its EBITDA margin before exceptional items above full-year 2014 and increase cash flow generation. The company confirms its mid-term target to achieve a position in the top tier of the specialty chemicals industry. This corresponds to an EBITDA margin before exceptional items range of 16% to 19% and a return on invested capital above peer group average in 2015 and beyond.

Clariant AG Proposes Increased Dividend

Clariant AG announced that the board of directors planed to propose to the annual general meeting an increased dividend of CHF 0.40 per share compared to CHF 0.36 per share in the previous year.

 

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CLZNY

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Valuation CLZNY Industry Range
Price/Earnings 36.5x
Price/Sales 1.0x
Price/Book 2.4x
Price/Cash Flow 43.4x
TEV/Sales 0.5x
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