Sneak peek at Sabic’s newly acquired subsidiary, Clariant AG

25/01/2018 Argaam Special

 

Saudi Basic Industries Corporation (SABIC) announced today that it acquired a strategic 24.99 percent stake into chemicals producer, Clariant AG, thereby becoming the largest shareholder in the company.

 

According to the most recent data available on Clariant AG’s result of operations, the company generated $144.8 million (SAR 544 million) net income in the first half of 2017. That figure constituted 16 percent rise on a year-on-year (YoY) basis.

 

Income Statement H1 2017

Period

H1 2016

H1 2017

Change %

Sales ($ mln)

2,953.3

3,150.3

+7%

Net income ($ mln)

125.3

144.8

+16%

Average number of shares (M)

325.7

328.7

--

EPS ($/share)

0.39

0.44

+10%

 

Clariant AG manufactures specialty chemicals, and operates via four segments: care chemicals, catalysis, natural resources, as well as plastics and coatings. It owns 80 manufacturing plants at a combined production capacity of 4 million metric tons per annum.

 

Operating segments ($ mln)

Segment

H1 2016

H1 2017

Variation %

Catalysts

290

323

+11%

Natural Resources

567

673

+19%

Chemicals

764

801

+5%

Plastics

1,331

1,354

+2%

 

Income Statement Since 2013

Period

2013

2014

2015

2016

Sales ($ mln)

6,557.5

6,681.2

6,036.2

5,936.8

Net income ($ mln)

(21.6)

166.0

238.0

256.9

Average number of shares (M)

314.5

322.0

324.4

325.5

EPS ($/share)

(0.07)

0.47

0.71

0.78

 

The company’s stock, listed on SIX Swiss Exchange in Zurich, Switzerland, declined by seven percent today following the announcement of the takeover by SABIC.

 

Balance Sheet ($ mln)

Period

2013

2014

2015

2016

H1 2017

Assets

9155

7962

7448

8129

8056

Long-term debt

2035

1771

1856

1875

1996

Total liabilities

6116

5337

5035

5801

5486

Capital

1228

1228

1228

1228

1228

Shareholders’ equity

3040

2624

2413

2418

2573

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.