Altana Still Burdened by Economic Crisis

Altana posted considerably lower first-half sales and earnings than in the comparative period of the previous year on account of the worldwide economic crisis. In comparison with the preceding first three months of 2009 the sales performance in the period April to June showed a positive trend; it was not possible, however, to offset the very weak first quarter of the business year. In total, Altana recorded significant losses in sales and earnings in the first six months of 2009. Sales decreased by 25 % to €541.0 million, down from €716.8 million in the same period a year ago. Ebitda decreased by 52 %, from €141.4 million in the previous year to €68.0 million. The Ebitda margin was down to 12.6 % and is therefore lower than the value of 19.7 % of the previous year. Earnings before taxes amounted to €24.5 million, following €103.6 million in the prior year.