ALTANA Posts Double-Digit Growth in First Half of 2021
WESEL, Germany – ALTANA recently announced financial results for the first half of 2021. The company reported sales increased by 24% to €1.3 billion compared to the same period in 2020. The sales increase was driven by strong demand for ALTANA solutions in almost all sales segments. Adjusted for acquisition and exchange-rate effects, sales were up by 26%.
"Our strong half-year results once again highlight how robustly ALTANA is positioned for the future," said ALTANA CEO Martin Babilas. "With our innovative solutions for increasingly sustainable products for everyday life and our program to achieve climate neutrality by 2025, we are moving our customers forward and at the same time ALTANA as a responsible company."
All four divisions recorded double-digit growth rates for the first half of 2021. The largest division, BYK, achieved sales of €631 million, a 25% increase in a year-to-year comparison. Adjusted for exchange-rate effects, sales grew by 29%.
The effect pigments specialist ECKART generated sales of €195 million, corresponding to 26% growth (27% in operational terms). The division received the ALTANA Innovation Award in 2021 for a pioneering technology in the field of ecologically compatible automotive coatings. In February, ECKART completed the acquisition of the TLS business with metal powders for 3D printing.
The ELANTAS division, whose innovative insulating materials are increasingly being used to expand e-mobility, posted sales of €284 million, up 30% on the previous year, and 34% in operational terms.
ACTEGA’s sales increased by 11% to €222 million. Adjusted for acquisition and foreign exchange effects, the increase was 10%. The acquisition of Henkel's closure materials business in May to strengthen PVC-free solutions in this area will have a special impact on earnings in the second half of the year.
In the first half of 2021, ALTANA achieved double-digit growth rates in all regions of the world. Sales in Europe, which continues to be the group’s strongest sales, reached €526 million, corresponding to an increase of 24% (22% in operational terms). Sales growth in Germany was 23% and 21%, respectively. In the Americas, ALTANA reported sales of €330 million, 12% higher than in the same period of the previous year. Adjusted for exchange-rate effects, sales in this region rose by 22%. The Group achieved its most significant growth in Asia, where sales increased by 33% (35% in operational terms) to €452 million. The driver of this development was the Chinese market, with growth of 47% (both nominal and operating growth).
Due to its performance in the first six months of 2021, ALTANA is raising its sales forecast for the full year. Instead of operating sales growth in the low- to mid-single-digit percentage range, as originally expected, the company now anticipates low-double-digit growth.
Learn more at www.altana.com.
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