WESEL, Germany - Despite the challenges posed by the coronavirus pandemic, the specialty chemicals group ALTANA recorded only a slight decline in sales in the 2020 fiscal year and was able to increase EBITDA in a year-to-year comparison. Sales reached €2,178 million, just 3% below the 2019 level. Adjusted for acquisition and exchange-rate effects, the sales decrease was 4%. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to €426 million, exceeding the previous year’s level by 2%. The company reports that favorable raw material costs, active cost management, and pandemic-related one-time effects including savings due to the absence of travel and trade shows contributed to this development. At 19.6%, the EBITDA margin was at the upper end of the long-term target range of 18 to 20%, despite continued high spending in key areas such as research and development and digitalization.
“Our top priority in the 2020 fiscal year was to protect our more than 6,500 colleagues worldwide. On this basis, we once again succeeded in demonstrating ALTANA’s characteristic customer proximity in spite of physical distance,” said Martin Babilas, CEO of ALTANA AG. “The business results also show how deeply ALTANA’s innovative solutions are anchored in the lives of many people.” While demand in some segments, for example in the automotive sector, declined significantly due to the pandemic, consumer-oriented and sustainable solutions on the part of ALTANA increased in importance.