ALTANA reports outstanding results based improved economy

ALTANA reports outstanding results based on improved economy

4:33 PM, 25th March 2011
ALTANA reports outstanding results based on improved economy
Dr Matthias L Wolfgruber, CEO, ALTANA AG.

 

WESEL, GERMANY: ALTANA ended the business year 2010 with good sales and earnings figures on account of an improved economy. Sales climbed to € 1,535.4 million, corresponding to an increase of 30 per cent compared to the previous year (€ 1,181.7 million). Adjusted for exchange rate as well as acquisition effects, the operating sales growth was 24 per cent. As a result, ALTANA did more than compensate for the crisis-related decrease in sales in the business year 2009 and was also able to generate significant growth in sales compared to the pre-crisis level of 2007.

 

The increase in earnings before interest, taxes, depreciation and amortization (EBITDA) was even more pronounced than in sales revenues. In 2010, EBITDA grew by 51 per cent to € 314.1 million, up from € 208.4 million. The EBITDA margin was 20.5 per cent and therefore clearly higher than the prior-year figure of 17.6 per cent.

 

For the first time ever, the BYK Additives & Instruments division generated sales of more than half a billion Euros in the past business year. Sales improved by 29 per cent, up from € 419.9 million in 2009 to € 541.2 million in 2010. The ELANTAS electrical insulation division achieved the largest percentage growth, with sales climbing by 38 per cent. Sales of ACTEGA Coatings and Sealants grew by 26 per cent from € 206.8 million to € 260.2 million. ALTANA generated the highest sales volume in Europe, an increase of 23 per cent. The second most important region was Asia, where sales increased by 38 per cent.

 

“ALTANA looks back on an outstanding business year 2010, in which we have returned to our long-term growth course and achieved excellent sales and earnings results. Overall, we assume that ALTANA will continue its course of profitable growth,” said Dr Matthias L Wolfgruber, CEO, ALTANA AG.

 

For the current business year ALTANA expects further increase in sales, primarily driven by the development of the global economy. However, economic risks such as increased volatility and the development of raw material prices, are bound to have a significant effect on the profitability, said the company.

(C) WOC News

 

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