ALTANA Reports Third-Quarter Results
November 8, 2009
WESEL, Germany - The specialty chemicals Group ALTANA has recorded positive results in the third quarter of 2009. The sequential increase in sales and earnings from quarter to quarter, however, was not strong enough to compensate for the bad results, particularly from the first quarter of 2009.
In total, ALTANA posted sales of EUR 872.2 million for the period from January to September 2009, compared to EUR 1,067.5 million in the same period a year ago, a decline of 18 percent. Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 35 percent, from EUR 213.1 million to EUR 139.4 million.
Even though, at 16 percent, the present EBITDA margin is lower than the prior-year value (20 percent), it is already higher than the first six months of 2009 (12.6 percent). Earnings before taxes (EBT) amounted to EUR 70.4 million, following EUR 152.1 million in 2008.
Sales in the BYK Additives & Instruments division totaled EUR 311.5 million, a decrease of 14 percent on the prior-year figure of EUR 361.5 million. ECKART Effect Pigments posted sales EUR 207.2 million, corresponding to a decline of 26 percent on the same period last year (EUR 281.6 million). Sales in the ELANTAS Electrical Insulation division were down by 23 percent from EUR 258.8 million to EUR 200.0 million. The ACTEGA Coatings & Sealants division proved the most resilient to the economic crisis; here, sales in the first nine months of the business year decreased only 7 percent from EUR 165.6 million to EUR 153.5 million.