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

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

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