Compared to CHF 1.164 billion in Q1 2019, Clariant has announced Q1 2020 continuing operations sales of CHF 1.019 billion. This corresponds to a 6 percent decline in local currency and a 12 percent decrease in Swiss francs due to an unfavorable currency effect.
Amid the COVID-19 pandemic and a mild winter season, Clariant was confronted by a lower demand environment in Q1 2020. In Asia, sales development was robust on a regional basis. Due to the substantially softer Aviation business which was related to the mild weather conditions, sales in North America decreased slightly while Europe weakened significantly.
Due to sales expansion in Oil and Mining Services in Q1 2020, sales increased by the Natural Resources Business Area by 2 percent in local currency. Because of the significantly weaker Aviation business, Care Chemicals sales in local currency faded by 14 percent while Catalysis sales in local currency sank by 6 percent, partly as a result of previously communicated forward sales shifts into Q4 2019.
Impacted by the sales evolution in Q1 2020, the continuing operations EBITDA decreased by 14 percent in Swiss francs to CHF 157 million. This was particularly a result of softer profitability in Catalysis due to lower sales and the weak Aviation business in Care Chemicals.
Underpinned by rapid and efficient implementation of cost control measures, the EBITDA margin remained robust at 15.4 percent, versus 15.7 percent in the same period of the previous year.
