By: ICN Bureau
Last updated : February 26, 2026 4:45 pm
For the full year 2026, Clariant expects macroeconomic challenges, uncertainties, and risks to remain
Clariant has reported FY 2025 sales of CHF 3.915 billion flat in local currencies and declined by 6% in Swiss francs. Pricing was flat, while volumes were down 1%. Scope had a positive impact of 1%, reflecting the contribution of Lucas Meyer Cosmetics by Clariant. The currency impact of - 6% was driven by movements in the US dollar, Indian rupee, Brazilian real, Euro, and Chinese yuan.
FY 2025 EBITDA margin before exceptional items increased by 180 basis points to 17.8%, driven by performance improvement programs and cost productivity across the entire organization.
In the full year 2025, the Group recorded a net loss of CHF 41 million versus a net income of CHF 280 million in the prior year. This was largely due to a non-cash cumulative translation adjustment (CTA) of CHF 230 million, stipulated by IFRS following the divestment of the Group’s operations in Venezuela. Adjusted for that exceptional accounting effect, the Group’s net income was CHF 189 million.
During the year, performance improvement program achieved CHF 50 million savings in 2025, on track to deliver CHF 80 million with the remainder largely expected in 2026.
Q4 2025 sales increased by 1% in local currencies to CHF 1.028 billion due to strong volume growth in Catalysts and Care Chemicals. Q4 2025 EBITDA margin before exceptional items increased by 240 basis points to 17.1 %, with strong profitability improvement in Catalysts and Care Chemicals.
Outlook 2026
For the full year 2026, Clariant expects macroeconomic challenges, uncertainties, and risks to remain. Clariant therefore expects sales in local currency to be around flat as the company looks to offset a negative top-line impact for the Group of 1 % (2 % in Care Chemicals) from its portfolio pruning in the prior year. Slight growth is expected in Care Chemicals (underlying) and Adsorbents & Additives, while sales in Catalysts are expected to be at levels similar to those of 2025.
Clariant expects an EBITDA margin before exceptional items of around 18 % in 2026. The CHF 80 million performance improvement program, as announced during the company’s Investor Day in November 2024, is expected to deliver most of the remaining cost savings during the year, after CHF 50 million savings were achieved in 2025. Clariant also expects to continue to achieve a free cash flow conversion of around 40 % in 2026.
Clariant reiterates its commitment to its medium-term targets, to be achieved by 2027 at the latest: 4 – 6 % local currency sales growth (in a normalized market of 2 – 4 %); 19 – 21 % reported EBITDA margin; and around 40 % free cash flow conversion.