Consensus and modeling guidance
Modeling guidance
Clariant targets a Capex spend of ~ CHF 150 - 200 million Swiss francs in 2026.
Clariant targets to defend a solid investment rating.
Clariant targets to create value for shareholders by achieving above-average returns and distributing a stable or rising dividend.
CHF 50 m of CHF 80 m targeted cost savings of Investor Day 2024 savings program achieved as of end of 2025; remainder largely expected in 2026.
Divestments and closures create a negative top-line impact of 1 % ( Group) and 2 % (Care Chemicals) to 2026 sales.
For FY 2026, Clariant expects 3 - 5 % headwind on sales.
For FY 2026, Clariant expects raw material cost to remain volatile, energy cost to go up low single-digit percent, and logistic cost to remain stable.
For the full year 2026, Clariant expects macroeconomic challenges, uncertainties, and risks to remain.
Clariant therefore expects sales in local currency to be around flat as the company looks to offset a negative top-line impact for the Group of 1 % (2 % in Care Chemicals) from its portfolio pruning in the prior year. Slight growth is expected in Care Chemicals (underlying) and Adsorbents & Additives, while sales in Catalysts are expected to be at levels similar to those of 2025.
Clariant expects an EBITDA margin before exceptional items of around 18 % in 2026.
For FY 2026, Clariant assumes a tax rate of 27 - 29 % due to the earnings distribution globally.
Consensus
Disclaimer: Consensus earnings estimates are based on earnings projections made by equity analysts who cover Clariant. Any opinions, forecasts, estimates, projections or predictions regarding Clariant’s performance made by the analysts (and, therefore, the Consensus estimate numbers) are theirs alone and do not represent the opinions, forecasts, estimates, projections or predictions of Clariant or its management. Clariant does not by providing these estimates imply its endorsement of or concurrence with such information, conclusions or recommendations. Clariant assumes no liability for the accuracy of such estimates and undertakes no obligation to update or revise such estimates.
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