Clariant (1K) | Buy | A key player in chemical catalysts

研报英文原文证据摘录

Clariant (1K) | Buy | A key player in chemical catalysts

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This insert is part of a sector report, which is Release date: 10 June 2026

available here

Company research

Buy Clariant

Switzerland | Chemicals Beta Profile: MCap: CHF2.3bn

Target Price: CHF11.00 Change in TP: none Bloomberg: CLN SW Reuters: CLN.S

Current Price: CHF7.14 Change in Sales: -0.2% 26E/-0.2% 27E Free float 63.6%

Avg. daily volume (CHFm) 13.1 Up/downside: 54.2% Change in Adj EBIT: -0.5% 26E/-0.9% 27E

YTD abs performance -0.3%

Market data: 09 June 2026 Change in Adj. EPS: -0.6% 26E/-1.0% 27E

52-week high/low (CHF) 9.04/6.66

A key player in chemical catalysts Price performance

Why this report?

This specialty chemicals company made its entry into catalysts some 15 10.5

years ago when it acquired Germany-based Südchemie (mostly private 10.0 9.5

equity held, partly family-owned) in 2011. Clariant’s catalyst business now 9.0

has leading positions across the chemical production value chain, helping 8.5

improve the performance of chemical processes. Currently, the business is 8.07.5

facing challenges as key customers’ operations have been hampered by the 7.0

situation in the Strait of Hormuz. Yet, we believe that Clariant’s business will 6.5

Jun 25 Dec 25

soon be back to normal following the opening of the Strait. We reiterate our

Buy rating and CHF11 target price. The one hurdle for the shares to perform Price Stoxx Europe 600 (rebased)

is the ongoing ethylene litigation (in the 2010s, Clariant was part of an

ethylene purchasing cartel that unsuccessfully tried to dampen ethylene

prices). We expect a limited impact from the litigation, hence our confidence

in a significant re-rating of the shares. FY to 31/12 (CHF) 12/26E 12/27E 12/28E

Sales (m) 3,827.9 3,940.9 4,096.8