Clariant Full-Year Report 2023

Clariant delivers solid Q4 underlying EBITDA margin; proposes stable shareholder distribution per share; expects growth and improving profitability in 2024

Highlights

• Q4 2023: Sales decreased by 10 % organically in local currency¹ to CHF 1.062 billion against a strong comparable in Q4 2022; sequential sales increase of 4 % in local currency driven by volume growth
• Q4 2023: EBITDA margin of 10.0 % impacted by provisions related to sunliquid® decision and restructuring; underlying EBITDA margin before exceptional items of 14.9 %
• FY 2023: Sales decreased by 7 % organically in local currency to CHF 4.377 billion due to lower volumes despite maintaining stable pricing; EBITDA margin of 13.9 %, and 14.6 % before exceptional items
• FY 2023: Resilient free cash flow of CHF 216 million, resulting in a 36 % free cash flow conversion rate
• FY 2023: Distribution of CHF 0.42 per share proposed to AGM on 9 April 2024
• Outlook 2024: In a continued challenging macroeconomic environment, Clariant targets low single-digit local currency growth and an improvement in reported EBITDA margin to around 15 % (around 16 % excluding sunliquid® operational and exceptional impacts)
• Medium-term targets: Clariant remains firmly committed to its targets, with 2025 EBITDA margin now expected at 17 % – 18 % showing significant progress toward the 19 % – 21 % target