ZURICH (Reuters – Clariant has raised its full year sales outlook on Thursday, after the Swiss specialist chemicals manufacturer reported higher-than-expected sales in third quarter.

This company’s products include catalysts for chemical production, fuel processing, and chemicals used in personal-care products. Its sales increased 23% to 1.10 Billion Swiss Francs ($1.20 Billion), which is better than analysts expected.

Now, it expects full-year revenue to rise by 9%-11% in local currency, in contrast to the previous guidance that was for a 7% to9% increase.

Clariant has confirmed its guidance of an 16% to 17% full-year earnings margin before interest tax, depreciation, amortization, and amortisation margin (EBITDA), which Clariant had previously increased its sales outlook for July.

EBITDA increased 42% to 180million Swiss francs during the three-month period ending in September, a difference of 16.4%.

In a statement, Konrad Keijzer, Chief Executive Officer of Clariant stated that Cleary’s ability increase profitability was due to the strong growth in the relevant markets as well as our ability to partly offset the effects on raw material cost inflation and logistics challenges through strong pricing.

“Our 2021 outlook is positive for the full year.”

($1 = 0.9185 Swiss francs)