|Bid||21.01 x 821900|
|Ask||21.45 x 805400|
|Day's Range||21.19 - 21.44|
|52 Week Range||21.19 - 25.16|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||25.40|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||25.77|
Clariant missed fourth quarter profit and sales expectations on Wednesday due to softening demand in Asia and Europe, sending shares in the Swiss specialty chemicals maker lower. Quarterly earnings before interest, taxes, depreciation and amortisation excluding exceptional items (core EBITDA) fell 2 percent to 253 million Swiss francs (£195 million), missing the average 260 million francs in a Infront Data poll. Clariant, a quarter-owned by Saudi Arabia's Saudi Basic Industries (SABIC), proposed a higher dividend of 0.55 francs per share and confirmed its 2021 guidance for above-market growth, higher profitability and stronger cash generation.
Clariant said profits and sales rose last year on higher volumes and prices, backed its financial targets and proposed raising its dividend.
Fourth-quarter profit declined 12 percent to 3.24 billion riyals compared with an estimate of 5.29 billion riyals. Sabic, as the company is known, and Switzerland’s Clariant AG are discussing how to combine their specialty chemicals businesses, Yousef Abdullah Al Benyan, the Saudi company’s chief executive officer, told reporters in Riyadh. Key NumbersFY sales 169.09 billion riyals, estimate 169.68 billion (range 167.41 billion to 172.38 billion) (data compiled by Bloomberg)4Q sales 40.13 billion riyals, estimate 40.41 billion (range 38.8 billion to 42.4 billion) (data compiled by Bloomberg)Cites increase in selling, general and administrative expenses, and decrease in share of results from associates and joint ventures.Implemented strategic restructuring initiative with an impact of 1.1 billion riyals.
Today we are going to look at Clariant AG (VTX:CLN) to see whether it might be an attractive investment prospect. Specifically, we'll consider its Return On Capital Employed (ROCE), since Read More...
FRANKFURT/ZURICH (Reuters) - Switzerland's Clariant (CLN.S) has begun the sale of its pigments business as part of wider a streamlining which it has said it will complete by the end of 2020, sources said. Saudi Arabia's Saudi Basic Industries (SABIC) bought a 25 percent stake in Clariant last year, ending a dispute between the Swiss company and U.S.-based activist investor White Tale which scuttled a planned merger with U.S.-based Huntsman Corp. Clariant has mandated Deutsche Bank (DBKGn.DE) to find a buyer for the pigments business, which could be valued at around 800 million Swiss Francs (£642.3 million), the sources told Reuters, adding that private equity firms were likely buyers.
Swiss chemicals group Clariant (CLN.S) elected four representatives of its Saudi anchor shareholder to its board on Tuesday as its new chief executive acknowledged rising tensions over a missing Saudi journalist could hurt its business. The vote came as Credit Suisse (CSGN.S) pulled out of an investment summit in the Middle Eastern kingdom, the latest western company to shun Saudi Arabia amidst the mystery surrounding the fate of journalist Jamal Khashoggi. Clariant, which has state-controlled Saudi Basic Industries Corp (SABIC) as its largest shareholder, said the uncertainties surrounding Saudi Arabia could hit it and rivals who operate in region.
ZURICH (Reuters) - Shareholders elected all four representatives of Saudi Basic Industries Corp (SABIC) nominated to join the board of Swiss chemicals maker Clariant (CLN.S) at its extraordinary general ...
The new chief executive of Clariant, which has Saudi Basic Industries Corp as its anchor shareholder, said rising tensions surrounding the disappearance of a Saudi Arabian journalist could hit the Swiss ...
Carl Icahn recently tried to destroy Cigna's $54 billion purchase of Express Scripts by buying shares of Cigna and pushing it to get out of the deal. Usually shares of an acquiring company fall and those of a target rise, allowing traditional merger arbitrage traders the chance to profit on their price movements as the deal nears completion. Carl Icahn recently used it to try to destroy Cigna CI 's $54 billion purchase of Express Scripts ESRX .
Patrick Jany, chief financial officer at Clariant, discusses the naming of a new Chief Executive Officer and four board members by the company's largest investor, Saudi Basic Industries Corp. He speaks ...
ZURICH/BERLIN (Reuters) - Switzerland's Clariant and new anchor shareholder Saudi Basic Industries Corp (SABIC) will merge their high-performance materials businesses and install a SABIC manager as head of the group as they strengthen their partnership. The new joint venture and governance accord announced on Tuesday mark the first concrete signs of how SABIC's arrival as a white knight in January is reshaping the speciality chemicals group that U.S. activists had targeted. The partners had agreed that SABIC would not take over Clariant but could boost the 24.99 percent stake it bought from the activists to rescue Clariant from a hostile takeover threat, Clariant Chief Executive Hariolf Kottmann told a news conference.
Saudi Basic Industries Corp has won regulatory approvals to complete its purchase of 24.99 percent of Clariant (CLN.S), the Swiss speciality chemicals maker said on Monday, clearing the way for the two companies to intensify cooperation. Delays in approvals from authorities in countries including Mexico and Brazil had forced Clariant to push back a strategic update on its tie-up with the Saudi company, known as SABIC. With those now completed, Clariant will provide an update on future collaboration "in due course".
Saudi Basic Industries Corp won approvals to complete its purchase of 24.99 percent of Clariant, the Swiss speciality chemicals maker said on Monday, clearing the way for the two companies to intensify ...
Clariant's (CLN.S) update on its ties with Saudi Basic Industries (SABIC) is likely to be delayed, as antitrust approvals for the Saudi company's 25 percent stake in the Swiss speciality chemical maker take longer than expected. SABIC's move to become Clariant's largest shareholder has prompted speculation that the Saudi company could increase its holding, but Clariant CEO Hariolf Kottmann said SABIC had no current plans to make a full bid.