Clariant delays the release of fourth quarter / full year 2021 results

Clariant International Ltd


  • Postponement triggered by an investigation into accounting issues related to the recognition of provisions and adjustments during the 2020 and 2021 financial years

  • The investigation by independent advisers is well advanced

  • Preliminary revenue from continuing operations increased by 15% in local currency to CHF 4.372 billion in 2021

  • Based on current knowledge, Clariant expects to achieve EBITDA margin targets
    from 16% to 17% for continuing operations in 2021

  • No impact on cash and cash equivalents identified

  • Conrad Keijzer, CEO of Clariant: “We are investigating this matter with the utmost urgency and diligence.”


Clariant, a focused, sustainable and innovative specialty chemicals company, today announced that the release of its fourth quarter/full year 2021 results will be delayed due to an investigation into accounting issues related to certain provisions and fees to pay. As a result, the publication of the 2021 integrated report and the annual general meeting of shareholders (AGM) will be postponed beyond the scheduled dates.

The investigation was prompted by information from internal whistleblowers, which the Company took very seriously. “At Clariant, we encourage our staff to speak up and therefore appreciate that our employees have brought this issue to our attention. We are investigating this matter with the utmost urgency and diligence,” said Conrad Keijzer, Chief Executive Officer of Clariant.

The investigation concerns the recognition of certain provisions and accrued charges. It examines whether employees have incorrectly recorded these provisions and accruals, with the aim of steering the results of the Company to achieve internal and external objectives.

The Company has appointed independent advisors and outside counsel Deloitte and Gibson, Dunn & Crutcher, to investigate these accounting matters. The periods under review relate to the Company’s previously published annual and semi-annual financial statements and quarterly reporting for the years 2020 and 2021.

As a result of this ongoing investigation and based on current knowledge, Clariant may need to restate previously released financial statements, including the annual financial statements for the year ended December 31, 2020 and the first half financial statements. for the periods ended June 30, 2020 and June 30, 2021 as well as the quarterly reporting for these years. At this stage, it is not yet clear whether this problem also extends to accounting periods before 2020.

Although the Company’s investigation is well advanced, the postponement of the release of the fourth quarter/full year 2021 results and the 2021 Integrated Report has become necessary to ensure a thorough and complete examination of the matters and the completion satisfaction of the investigation with all necessary guarantees.

Based on information available to management to date, Clariant expects the financial results for 2021 to be: Preliminary sales from continuing operations of CHF 4.372 billion, corresponding to a 15% increase in local currency and 13% in Swiss francs. Clariant expects to achieve the EBITDA margin range of 16% to 17% for continuing operations, as expected on October 28, 2021. The results of the investigation are not expected to have an impact on cash and cash equivalents declared during the years under review.

Clariant is devoting all necessary resources to complete the investigation and will report its fourth quarter/full year 2021 results, publish the 2021 Integrated Report and set a new date for the Annual General Meeting of Shareholders in due course.

“We will also address the root causes of this issue by addressing our controls and processes and further reinforcing a culture of the highest ethical standards, as part of our goal-driven strategy,” Conrad said. Keijzer, CEO of Clariant.


Jochen Dubiel
Telephone +41 61 469 63 63
[email protected]

Anne Mayer
Telephone +41 61 469 63 63
[email protected]

Ellesse Golder
Telephone +41 61 469 63 63
[email protected]


Andreas Schwarzwalder
Telephone +41 61 469 63 73
[email protected]

Mary Ivek
Telephone +41 61 469 63 73
[email protected]

Alexander Kamb
Telephone +41 61 469 63 73
[email protected]

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This press release contains certain statements that are neither reported financial results nor other historical information. This document also includes forward-looking statements. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Clariant’s ability to control or accurately estimate, such as future market conditions, currency fluctuations, the behavior of other market participants, actions of governmental regulators and other risk factors such as: the timing and strength of new product offerings; competitors’ pricing strategies; the Company’s ability to continue to receive adequate revenue from its suppliers on acceptable terms, if at all, and to continue to obtain sufficient funding to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, globally, regionally or nationally . Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Clariant undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these documents.

Clariant is a specialist, sustainable and innovative chemical company based in Muttenz, near Basel/Switzerland. As of December 31, 2020, the company employed a total of 13,235 people. In fiscal year 2020, Clariant recorded revenue of CHF 3.860 billion for its continuing operations. The company reports on its activities in three business areas: service chemicals, catalysis and natural resources. Clariant’s corporate strategy is guided by the overarching goal of “greater chemistry – between people and planet” and reflects the importance of connecting customer focus, innovation, sustainability and people. .


Jacob L. Thornton