Clariant shares fell sharply on the Zurich Stock Exchange on Monday after the postponement of the publication of the fourth-quarter results of the Swiss specialty chemicals group.
In a press release published in the morning, Clariant announces that the publication of its quarterly and annual results will not take place on Wednesday, February 16, as initially planned.
The Basel company justifies its decision by the need to carry out investigations concerning the recognition of certain charges and provisions.
“The investigation was triggered by information from internal whistleblowers, which the company takes very seriously,” she explains.
Clariant says it has commissioned auditing firms Deloitte and Gibson, Dunn & Crutcher to conduct a number of reviews, which appear to be well advanced.
Beyond the fourth quarter of 2021 and the 2021 financial year as a whole, the irregularities could also concern the accounts for the year 2020, specifies the group in its press release.
'In any case, this announcement will not fail to question the internal control of the group', commented this morning the analysts of Invest Securities.
The date of the new publication has yet to be determined, but Clariant delivered some information this morning on its performance last year.
Based on preliminary figures, sales from continuing operations are expected to have increased by 15% in local currencies, to more than 4.37 billion Swiss francs, in fiscal 2021.
As for the operating margin - also from continuing operations - it should be between 16% and 17% last year, a performance slightly below the consensus of 17.1%.
Shortly before 11 a.m., the stock of the maker of hygiene chemicals, plastics, and coatings fell 20%.
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