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Corporate
Altana posts robust growth
The specialty chemicals company ALTANA AG substantially increased sales and earnings in the first six months of 2007 compared to the previous year.Sales increased by 7%, rising from €659.0 million to €705.7 million. Adjusted for negative exchange rate effects of 3% as well as slightly positive acquisition effects, the operating sales growth rate was 9%. The growth in sales was particularly strong in Europe (+ 10%) and Asia (+ 8%). Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 22% from €103.1 million to €125.2 million, based on double-digit earnings increases in all divisions. The EBITDA margin was 17.7%; despite additional costs due to the dual holding structure with the headquarters in Wesel and Bad Homburg, which was maintained until the middle of the year. Income before taxes (EBT) reflects the extraordinary interest income of €55.3 million from the investment of the purchase price for ALTANA Pharma realized until the distribution of the dividend in May. EBT for the first half of 2007 totaled €138.6 million; this corresponds to an increase of €75.9 million on the comparable prior-year figure.
