ALTANA Achieves Operating Sales Increase
Growth forecast for the full-year 2016 confirmed
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The specialty chemicals Group ALTANA achieved operating sales growth of 1 percent in the first half of 2016. Due to exchange-rate effects and portfolio adjustment, nominal sales were down by 1 percent to €1,064 million, almost reaching the high level of the previous year (€1,070 million).
Earnings before interest, taxes, depreciation and amortization (EBITDA) grew at a double-digit rate, up by 19 percent year-on-year to €249 million (previous year: €210 million). The EBITDA margin reached 23.4 percent, compared to 19.6 percent in the first six months of 2015.
"Even without economic tailwinds we were able to achieve operating growth in the first half of 2016," said Martin Babilas, CEO of ALTANA AG. "ALTANA is very well positioned for further profitable growth under its own steam."
ALTANA confirms its full-year growth forecast, anticipating operating sales growth in the low single-digit percentage range.
Increase particularly in the BYK Additives & Instruments division
The BYK Additives & Instruments division achieved the most significant increase in sales in the first half of the year, with sales rising by 3 percent to €469 million. This increase was achieved on a purely operating basis. The first-half report does not yet contain the acquisition of Addcomp Holland B.V., which was announced at the beginning of July. Sales in the ECKART Effect Pigments division were up by 1 percent to €181 million, also mainly at operating level. Positive exchange-rate effects had an only minor impact on this development.
The ELANTAS Electrical Insulation division was able to increase total sales volumes in the period under review. However, price/mix effects led to a slight operating sales decline of 1 percent. Due to negative exchange-rate effects, nominal sales were down by 4 percent to €232 million. Sales in the ACTEGA Coatings & Sealants division fell by 7 percent to €182 million, mainly as a result of the sale of the companies of ACTEGA Colorchemie and negative exchange-rate effects. Operating sales fell by 2 percent.
Asia is the fastest-growing market
At 4 percent, ALTANA achieved the highest operating growth rates in Asia. Due to exchange-rate effects, nominal sales increased by 2 percent. In Europe, operating sales were up by 3 percent; nominal growth was 2 percent. In the Americas, both nominal and operating sales were below the previous year’s level, down by 7 percent and 6 percent respectively. This was primarily due to the oil price-related slowdown in demand from customers in the oil and gas industry.
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