ALTANA Thrives in 2024 with Strong Growth and Expansion Plans
- Sales increase by 16 percent to 3,169 million euros
- EBITDA rises by 27 percent
- Research and development spending grows by an additional 8 percent
- Investments in sites, digitalization, and sustainability surge by 30 percent
- Outlook: Further growth under own steam and through acquisitions
The specialty chemicals group ALTANA achieved double-digit growth in the 2024 fiscal year while once again making significant investments in the future. The company increased its sales by 16 percent to 3,169 million euros (previous year: 2,742 million euros). One growth driver was heightened demand for ALTANA Group solutions, which far outpaced overall market growth. Acquisitions completed in the fall of 2023 and in January 2024 also contributed to this increase. Adjusted for acquisition and exchange-rate effects, sales rose by 7 percent. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 27 percent to 490 million euros (previous year: 385 million euros), despite substantial costs related to integrating the acquisitions. This improvement was primarily fueled by the significant sales increase. The EBITDA margin reached 15.5 percent (previous year: 14.0 percent).
In 2024, they increased its already high research and development expenditure by a further 8 percent to 213 million euros. This corresponds to 7 percent of sales, remaining well above the industry average. At the same time, the company invested 180 million euros – 30 percent more than in the previous year – in sites, digitalization, and sustainability.
“Investing in the future regardless of economic fluctuations”
“The year 2024 has once again demonstrated: our innovative and financial strength, the acquisitions and investments made, and, above all, the resilience of our business model – proven over many years – position us ideally,” said Martin Babilas, the CEO of ALTANA AG. “Our ability to achieve double-digit growth under persistently challenging market conditions is primarily due to the performance and dedication of our employees worldwide. We will continue to build on our strengths as an innovation-driven, customer-oriented, decentralized specialty chemicals group, investing in the future regardless of economic fluctuations.”
Site expansion driven forward
In 2024, They continued to drive the expansion of its global site network across all divisions. At its headquarters in Wesel, detailed planning began for a state-of-the-art innovation, laboratory, and seminar complex, with an investment of 25 million euros. In the fall, the company opened a new plant for wire enamels in Zhuhai, southern China, with a total investment exceeding 20 million euros. Additionally, they acquired land in India for a new, cross-divisional site and invested in increasing the capacity of its U.S. facilities in Connecticut and North Carolina.
Nearly greenhouse gas-free by 2050
In 2024, they took a significant step forward in its commitment to climate protection. The company pledged to operate virtually greenhouse gas-free worldwide by 2050, aiming for net zero emissions. This commitment extends across the entire value chain (Scope 1 to 3). Between 2014 and 2023, the specialty chemicals group had already successfully reduced greenhouse gas emissions within its direct sphere of influence (Scope 1 and 2) by approximately 70 percent globally.
Growth in all divisions
In 2024, all their divisions contributed to the company’s growth. The largest division, BYK, saw an 11 percent increase in both nominal and operating sales, reaching 1,337 million euros. ECKART, the effect pigment specialist, achieved sales of 434 million euros, marking a 24 percent increase. The acquisition of the Silberline Group in January 2024 had a positive impact in particular. Adjusted for acquisition and exchange-rate effects, sales grew by 5 percent compared to the previous year. ELANTAS, the supplier of electrical insulation materials, recorded a 28 percent increase in sales, reaching 878 million euros. This growth was primarily driven by the integration of the Von Roll Group, acquired in September 2023. Adjusted for acquisition and exchange-rate effects, sales were 4 percent higher than in the previous year. ACTEGA increased its sales with sustainable solutions for the packaging and graphics industry by 5 percent to 519 million euros.
Europe remains strongest region in terms of sales, strong growth in Asia
In 2024, demand increased across all sales regions, with global sales boosted by recent acquisitions. Europe remained the strongest sales region, with sales rising by 13 percent to 1,172 million euros. Adjusted for acquisition and currency effects, the increase amounted to 2 percent. Business in Germany grew by 15 percent, with a 3 percent increase in operational terms. Sales in the Americas were up 12 percent (4 percent in operational terms) to 886 million euros. The U.S. market saw an 11 percent increase, with operational sales remaining at the previous year’s level. Asia recorded the strongest growth. Sales in the region rose by 22 percent (17 percent operationally) to 1,054 million euros. In China, they achieved a sales increase of 20 percent (15 percent operationally), while the growth market of India saw a 21 percent rise (13 percent in operational terms).
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