Clariant’s Q3 sales and EBITDA before one-offs confirmed our view on the company and nearly met consensus. However, a second look reveals some strengths and weaknesses and it looks to us that the divestment of the lower-margin areas of Plastics & Coatings needs to be rethought as parts of the businesses earmarked for divestment look sustainable and worth retaining in the new, combined division.
31 Oct 2018
Too good to be fully divested?
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Too good to be fully divested?
Clariant AG (0QJS:LON) | 0 0 (-2.2%) | Mkt Cap: 8,000m
- Published:
31 Oct 2018 -
Author:
Martin Schnee -
Pages:
2
Clariant’s Q3 sales and EBITDA before one-offs confirmed our view on the company and nearly met consensus. However, a second look reveals some strengths and weaknesses and it looks to us that the divestment of the lower-margin areas of Plastics & Coatings needs to be rethought as parts of the businesses earmarked for divestment look sustainable and worth retaining in the new, combined division.