...July 22, 2024 S&P Global Ratings forecasts that cost savings, pricing discipline, lower exceptional costs, and the margin-accretive acquisition of Lucas Meyer Cosmetics (LMC) will result in improved earnings for Clariant AG in 2024. While we anticipate demand to remain subdued in 2024, and revenues to decline due to reduced scope, we forecast that S&P-adjusted EBITDA will improve to Swiss franc (CHF) 680 million-CHF700 million in 2024 from CHF562 million in 2023, corresponding to an EBITDA margin of about 16% (2023: 12.8%). This is because of the positive impact of prices decreasing less than input costs (except for formula-driven pricing in Care Chemicals). In addition, Clariant's management further increased its cost saving target from performance programs to CHF175 million by 2025, having already delivered CHF146 million at the end of first quarter 2024, with a total of CHF28 million expected in 2024. Finally, operational and exceptional effects from the closure of Clariant's bioethanol...
