Altana Noticeably Affected By Crisis Despite Rebound
Altana said it has concluded the business year 2009 with noticeably lower sales and earnings figures compared to the prior year due to the effects of the economic crisis. Despite a pronounced upturn in business in the second half of the year, sales declined to €1,182 million, following €1,342 million in 2008, which is a decrease of 12%. Adjusted for positive exchange rate as well as acquisition effects, the operating sales decrease was 15%. On account of the worldwide economic crisis, sales in all regions remained below the figures of the previous year; in some regions the losses were quite pronounced. At 17%, the highest decline was recorded in Europe, followed by North and South America with a drop of 12%. The Asian region was comparatively stable, with a sales decrease of only 2% for the full year. Here, Altana was able to achieve significant growth rates in the second half of 2009, particularly in China.
The BYK Additives & Instruments division achieved sales of €420 million in 2009, corresponding to a decrease of about 7% on the prior year. In the Eckart Effect Pigments division, sales dropped by 20% from €351 million in 2008 to €282 million in 2009. Sales in the Elantas Electrical Insulation division in 2009 amounted to €273 million; this is a decrease of 16% compared to 2008 (€327 million). Actega Coatings & Sealants achieved sales of €207 million in 2009, which is only slightly below the 2008 figure (€214 million).
On account of the decline in sales, preliminary earnings before interest, taxes, depreciation and amortization (Ebitda) in the business year 2009 decreased by 16% to €204 million. At 17.3% (prior year: 18.1%), the Ebitda margin was down by only about 1 percentage point. This was mainly due to the immediate and comprehensively taken countermeasures to reduce costs and increase efficiency, which led to savings of about €55 million in the past business year.
