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 ($/share) |
0.39 |
0.44 |
+10% |
Clariant AG manufactures specialty chemicals, and operates via four segments: care chemicals, catalysis, natural resources, as well as plastics and coatings. It owns 80 manufacturing plants at a combined production capacity of 4 million metric tons per annum.
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Operating segments ($ mln) |
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|
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 |
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