ALTANA has announced it has achieved double-digit growth in the first half of 2021. In the first six months of the year, the specialty chemicals group’s sales rose by 24% to 1,334 million euros compared to the same period of the previous year (1,078 million euros), which was significantly influenced by the coronavirus pandemic.

The sales increase was driven by strong demand for ALTANA products in almost all sales segments. Adjusted for acquisition and exchange‑rate effects, sales were up by 26%. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to 283 million euros, which was 40% above the previous year’s figure (202 million euros). Owing to demand, the EBITDA margin reached 21.2% in the first half of 2021, which exceeded the company’s long‑term target range of 18-20% and the same period of 2020 (18.7%).

In the first six months, ALTANA once again spent over 80 million euros on R&D, and achieved important milestones in innovation, climate protection, and digitalization. On its way to CO2 neutrality by 2025, the ALTANA Group reported its first nearly CO2-free sites: ACTEGA in Brazil and Bremen, as well as ACTEGA in Foshan and ECKART in Zhuhai (both in China). All four sites have cut their CO2 emissions by more than 95% each.

"Our strong half-year results once again highlight how robustly ALTANA is positioned for the future," states Martin Babilas, ALTANA CEO. "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."

In the first half of 2021, all four divisions recorded double-digit growth rates. The largest division, BYK, achieved sales of 631 million euros, a 25% increase in a year-to-year comparison. Adjusted for exchange-rate effects, sales grew by 29%.

ECKART generated sales of 195 million euros, 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.

Meanwhile, ACTEGA’s sales increased by 11% to 222 million euros. 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 region, reached 526 million euros, 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 euros, 12% higher than in the same period of the previous year. The Group achieved its most significant growth in Asia, where sales increased by 33% (35% in operational terms) to 452 million euros. The driver of this development was the Chinese market, with growth of 47% (both nominal and operating growth).

In the middle of 2021 (June 30), ALTANA employed 6,641 people worldwide, 97 more than on June 30, 2020.

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.