April 30, 2019 / 5:17 AM / 3 months ago

Clariant cautions about tough economy as Q1 sales stagnate

ZURICH, April 30 (Reuters) - Clariant cautioned about a tough economic environment on Tuesday as the Swiss speciality chemicals maker reported first-quarter sales in line with expectations.

Sales were flat at 1.72 billion Swiss francs ($1.69 billion), matching forecasts in a company consensus of analyst forecasts. In local currencies, Clariant's sales increased by 2 percent.

Earnings before interest, tax, depreciation and amortisation after exceptional items fell 8 percent to 236 million francs, missing expectations of 253 million francs.

"In the first three months of this year, Clariant delivered continued organic sales growth despite the challenging macroeconomic environment," Chief Executive Ernesto Occhiello said.

$1 = 1.0189 Swiss francs Reporting by John Revill; Editing by Michael Shields

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