Exhibit 99.1
Ciba Specialty Chemicals Inc. Ciba Spezialitatenchemie AG Ciba Specialites
Switzerland Schweiz Chimiques SA Suisse
Corporate Corporate Corporate
Communications Communications Communications
[GRAPHIC OMITTED]
Ciba
Page 1
October 17, 2000
Basel, Switzerland
News Release
Ciba Specialty Chemicals reports nine month results
- -expects full year results at the top or somewhat
above the target range
o Sales rise 12 percent in Swiss francs; 5 percent in local currencies -
volume up 8 percent
o Net income up 65 percent
o Operating income up 58 percent; EBITDA at 17.4%
Ciba Specialty Chemicals reported today that net income for the first nine
months of 2000 rose 65 percent over the comparable period in 1999, reaching
CHF 329 million. Operating income rose 58 percent, to CHF 688 million, and the
EBITDA* margin reached 17.4 percent of sales. The strong earnings came on
sales of nearly 6 billion Swiss francs, an increase of 12 percent in Swiss
francs and 5 percent in local currencies. Sales increased in all divisions and
in all regions of the world.
"I feel comfortable that we will achieve an EBITDA margin at the top or
somewhat above our target range of 16 percent to 17 percent of sales. This
would indicate a strong double-digit percentage increase both in net income
and earnings per share for the year 2000," said Rolf A. Meyer, Chairman and
Chief Executive Officer of Ciba Specialty Chemicals.
This marks the first time Ciba has issued quarterly profit figures. Chief
Financial Officer Michael Jacobi commented, "We are committed to openness and
transparency in financial reporting. This publication marks a significant
improvement in our reporting to shareholders and will be our standard practice
in the future." In 1997, Ciba became one of the first Swiss companies to adopt
the more transparent U.S. GAAP reporting procedures.
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Ciba Specialty Chemicals (SWX:CIBN, NYSE: CSB) is a leading company dedicated
to producing high-value effects for our customers' products. Our specialty
chemicals, added in small quantities, enhance the performance, look and feel
of the final product. Business success is driven by our long-term strategy of
innovation and continuous operational improvements. Ciba brings new and
creative thought to the processes and products of our customers in more than
120 countries. Ciba's continuing operations generated sales of CHF 7.2 billion
in 1999 and some CHF 250 million was spent on R&D to foster innovation across
the Company.
* EBITDA: Earnings before interest, taxes, depreciation and amortization
-30-
For further information please contact:
Media Investor Relations
Basel, Switzerland Basel, Switzerland
Thomas Gerlach Matthias A. Fankhauser
Corporate Communications Investor Relations
Tel: +41 61 636 4444 Tel: +41 61 636 5081
Fax: +41 61 636 3019 Fax: +41 61 636 5111
Internet website: www.cibasc.com
Reporting dates for 2001
Full Year 2000 Results February 21, 2001
First Quarter 2001 Results April 26, 2001
Half-Year 2001 Results August 16, 2001
Third Quarter 2001 Results October 23, 2001
Annual General Meeting March 23, 2001
Ex-Dividend Date March 28, 2001
