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The speciality chemicals Group Altana increased sales by 5% in the 2015 fiscal year, thus, achieving more than €2bn for the first time. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached €391M, almost on a par yr-on-yr (€397M). At 19.0%, the EBITDA margin was below the previous year’s figure (20.4%, but still at a high level.
The sales growth was primarily due to positive exchange rate effects (7%) and acquisitions (1%). Adjusted for these effects, operating sales in 2015 were 2% down and, therefore, slightly below the strong previous year’s level.
"Despite unexpectedly sluggish demand development in some markets, Altana remained on track in 2015," said Martin Babilas, CEO of Altana since January 1, 2016. "We are very well positioned for further profitable growth, including growth under our own steam.”
In 2015, the ACTEGA Coatings & Sealants division achieved the strongest growth of all of Altana’s divisions. Following the acquisition of two companies in Brazil at the end of 2014, sales rose by 13% to €376M. Adjusted for acquisition and exchange rate effects, sales were roughly on a par yr-on-yr.
Operating sales in the Eckart Effect Pigments division also reached the previous year’s level. Due to positive exchange rate effects, sales grew by 5% to €350M.
The BYK Additives & Instruments division increased sales by 2 % to €870M. Adjusted for exchange rate effects, sales were 4% lower than yr-on-yr. Of decisive importance for this development were the economic downturn in China and, in particular, declining demand from customers in the oil and gas industry.
For the 2016 fiscal year, Altana anticipates overall increasing sales volumes and, therefore, operating sales growth in the low to medium single-digit percentage range. The company’s nominal sales growth may deviate from operating sales development primarily due to exchange rate changes that are difficult to predict. The Group’s return on sales is expected to be slightly higher compared to the already high previous year’s level.
