Clariant stock suffers on negative Q4 results but has high hopes for joint venture with SABIC

ZURICH, Switzerland (ICIS)--Shares at Swiss chemicals major Clariant were down almost 4% by 10:30 local time on Wednesday as the company reported below-expectations financial results for the fourth quarter. The fall in sales and earnings in the fourth quarter was compounded by the full-year figures, which came in below consensus by chemicals equity analysts covering Clariant. However, the firm’s CEO and CFO said on Wednesday that despite the economic slowdown that had already hit Clariant’s fourth-quarter performance, the company was aiming to “make more money” in 2019 as it strengthens its specialty chemicals businesses. However, CEO Ernesto Occhiello fell short of explaining how the company aims to increase its sales this year, apart from recurrent references to how it will enhance its service to customers.