● In the first quarter of 2026, the company posted sales of CHF 918 million, representing a year-on-year decrease of 2.0% in local currencies. The Middle East geopolitical situation weighed on sales volume in the Catalysts business, while business portfolio optimization also impacted the Care Chemicals segment. Excluding portfolio restructuring effects, sales fell by 0.5% year on year.

● The adjusted EBITDA margin for Q1 stood at 17.5%, down 130 basis points from the elevated level recorded in the same period of 2025, mainly due to the Middle East conflict and one-off items in the Catalysts business.

● The trailing 12-month free cash flow conversion rate rose 12 percentage points to 54%, driven by efficient working capital management and disciplined capital expenditure control.

● The CHF 80 million performance improvement initiative announced at the 2024 Investor Day is well on track. The remaining CHF 30 million savings target is expected to be fully achieved in full-year 2026, with CHF 9 million already delivered in the first quarter.

● Despite a notable blow to Catalysts demand and elevated input costs stemming from the Middle East conflict, coupled with heightened market uncertainty and volatility overall, the company maintains its full-year 2026 financial outlook unchanged.

Conrad Keijzer, Chief Executive Officer of Clariant, commented: “In Q1 2026, stripping out the impact of proactive business portfolio adjustments, our core sales remained broadly stable. The adjusted EBITDA margin came in at 17.5%, a 130-basis-point year-on-year decline from the high comparative base last year, primarily attributable to the fallout of the Middle East situation on the Catalysts business. Our free cash flow conversion rate improved 12 percentage points to 54%, and the CHF 80 million cost optimization target is set to be fully delivered by the end of this year, one year ahead of the original schedule. Meanwhile, we continue to drive growth through innovation, with innovative products accounting for 19.9% of total sales. We also secured six major innovation awards at the in-cosmetics Global Paris and Chinaplas Shanghai exhibitions.”

“Our full-year 2026 financial targets remain unchanged. We expect sales in local currencies to be broadly flat year on year, alongside an adjusted EBITDA margin of around 18%. The Middle East conflict will mainly affect Catalysts customers based in the Middle East and Asia, with related sales projected to trail last year’s levels. At the same time, the Adsorbents & Additives business is expected to grow; while Oil Services within Care Chemicals is exposed to Middle East headwinds, the core Care Chemicals business is set to post modest growth overall. To offset rising raw material and energy costs, we have deployed our established value-based pricing mechanism and continue to push forward cost-saving initiatives. Leveraging our global production network and forward-looking logistics layout, we remain capable of ensuring stable supply to customers,” Keijzer added.

Business Overview

May 8, 2026 – Clariant, a focused sustainable specialty chemicals company, has announced its financial results for the first quarter of 2026.

Group sales reached CHF 918 million, down 2.0% year on year in local currencies, or 0.5% lower excluding portfolio restructuring impacts, and down 9.4% year on year in Swiss francs.

Prior to the outbreak of the Middle East conflict in late February, formula-driven pricing adjustments amid falling raw material prices reduced sales by 1.5%. Combined headwinds from the regional situation and portfolio optimization led to a further 0.5% volume decline. Currency headwinds, mainly driven by fluctuations in the US dollar, Indian rupee and euro, amounted to a negative 7.4% impact.

Care Chemicals sales decreased 1.9% year on year in local currencies. Formula-based pricing adjustments following pre-conflict raw material price declines dragged pricing down by 2.6%, while volume rose 0.7% — growing 3.5% excluding portfolio restructuring. Mining Solutions, Personal & Home Care businesses delivered growth, offset by declines in other segments.

Catalysts sales fell 1.6% year on year in local currencies, with pricing edging up 0.4% and volume dropping 2.0% due to delayed order deliveries in the Middle East amid regional tensions. Ethylene Catalysts (including one-off precious metal sales) and Specialty Catalysts recorded growth, while other product lines declined.

Adsorbents & Additives sales slipped 2.7% year on year in local currencies. Growth in Additives failed to offset weakness in Adsorbents, with demand growth for renewable fuel applications in the US only emerging gradually towards the quarter end. Pricing dipped slightly by 0.2% and volume fell 2.5%.

Group adjusted EBITDA totaled CHF 160.2 million, down 15.9% year on year, translating to an adjusted EBITDA margin of 17.5%, a 130-basis-point decrease from 18.8% in Q1 2025. The decline was mainly driven by a marked hit to Catalysts sales volume from the Middle East conflict, lower operating leverage, and margin dilution from one-off precious metal sales. Additionally, unfavorable product mix in Catalysts and Care Chemicals, as well as inventory revaluation within Care Chemicals, weighed on profitability. Raw material costs decreased 4.5% year on year, while energy costs rose 2.2%.

Initiatives targeting the remaining scope of the CHF 80 million cost-saving program progressed smoothly, delivering CHF 9 million in savings during the first quarter.

Reported Group EBITDA stood at CHF 157.8 million, up 3.4% year on year, with an EBITDA margin of 17.2% — an improvement of 210 basis points from 15.1% in Q1 2025, primarily due to lower restructuring charges compared with the prior-year period.

At the end of Q1 2026, the trailing 12-month free cash flow conversion rate (April 2025 – March 2026) climbed to 54% from 42% at end-2025, underpinned by robust working capital management and stringent capital expenditure discipline.

Note: All references to local currency growth, pricing, volume and business performance exclude hyperinflationary economies Argentina and Turkey. All currency-related figures include the net impact of Argentina and Turkey.

Innovation & Sustainability

At in-cosmetics Global Paris 2026, Clariant launched a portfolio of high-performance beauty and personal care innovations, further strengthening its one-stop formulation solution capabilities. The next-generation active ingredient AlgaSurge™ redefines skin longevity, while the multifunctional emulsifier Lysofix™ Liquid debuted new hair care applications to enhance hair fiber strength from within. Clariant’s Personal Care and Lucas Meyer Cosmetics teams were awarded four prestigious innovation accolades for its R&D excellence.

At Chinaplas 2026 in Shanghai, Clariant showcased its full range of additive portfolios that enhance product performance while advancing environmental protection and regulatory compliance. The PFAS-free polymer processing aid AddWorks™ PPA won an innovation award for its excellent compatibility with food-contact materials, while the halogen-free flame retardant Exolit™ OP series received an Industry Leadership Award for outstanding glow-wire flammability performance.

In the trailing 12-month period (April 2025 – March 2026), innovative products rose to account for 19.9% of total sales, up from 18.8% in full-year 2025. The expanded application of Licocare™ RBW, a rice bran wax, strongly supported this growth. Produced from non-food competing renewable rice bran oil by-products, this bio-based wax is applicable in plastics, coatings and inks, featuring superior performance, substantially reduced carbon emissions and over 30% energy savings in production. In early 2026, Clariant received European Commission approval for the use of its renewable bio-based wax additives in food-contact plastics, proving sustainable solutions can scale to meet the highest regulatory standards and drive high-quality growth aligned with ESG trends.

Over the same trailing 12-month period, Clariant’s combined Scope 1 and Scope 2 greenhouse gas emissions fell to 420,000 tonnes, down 2.3% from 430,000 tonnes in full-year 2025, mainly driven by a higher share of green power consumption. Indirect greenhouse gas emissions from purchased goods and services (Scope 3.1 and 3.12) amounted to 3.72 million tonnes, largely stable versus 3.73 million tonnes recorded in full-year 2025.

Full-Year 2026 Outlook Unchanged

For full-year 2026, Clariant anticipates a persistently challenging market landscape with sustained macroeconomic pressures, uncertainties and elevated risks. The Middle East conflict will continue to dampen customer demand for Catalysts and Oil Services (within Care Chemicals), while pushing up raw material, energy and logistics costs. To counter cost inflation, the company leverages its proven value-based pricing framework and continues to implement cost-saving measures amid subdued demand. Supported by its global manufacturing footprint and forward-looking logistics strategy, Clariant will maintain reliable product supply to customers.

The company expects full-year sales in local currencies to remain broadly flat against 2025 levels, offsetting a 1% group revenue headwind (2% for Care Chemicals) from prior-year portfolio restructuring. Adsorbents & Additives is projected to achieve growth, core Care Chemicals to record modest expansion, while Catalysts sales are expected to fall short of 2025 results.

Clariant targets an adjusted EBITDA margin of around 18% for 2026. Of the CHF 80 million cost-saving program announced at the November 2024 Investor Day, CHF 59 million has been delivered by Q1 2026, with the remaining savings set to be completed within the year. The company forecasts a full-year 2026 free cash flow conversion rate above 40%.

Clariant remains committed to its medium-term targets, targeted to be achieved no later than 2027.