Clariant AG Q3 2026 Earnings Recap

Clariant’s shares were roughly flat after earnings, down 0.2%. Q3 sales grew in local currency, but EBITDA margin fell 230 basis points year on year, with weaker Catalysts volumes and raw-material effects weighing on profitability; full-year guidance was unchanged.

Key Takeaways

• Sales were CHF 968 million, up 5.6% in local currency; pricing rose 5.7%, while volumes edged down 0.1% (up 1% excluding portfolio pruning).
• EBITDA before exceptional items fell 6.5% to CHF 151.5 million. Margin declined to 15.6% from 17.9%, reflecting roughly 100 basis points each from corporate-cost provision phasing and raw-material effects.
• Care Chemicals sales rose 6.6% in local currency including portfolio pruning, but its margin fell 150 basis points to 17.5%; underlying volumes grew 2.1%.
• Catalysts sales rose 1.8% in local currency, but volumes fell 1.9% as Middle East conflict delayed high-margin orders. EBITDA declined 29.4% to CHF 23.1 million, and margin fell to 13.3% from 19.1%.
• Free cash flow conversion improved to 48% from 39% on a last-12-month basis. Clariant kept full-year guidance unchanged and expects CHF 90 million in run-rate savings by end-2026, with CHF 79 million achieved so far.