International.
Altana announced that it has increased its sales by 5% in fiscal year 2015, reaching more than 2 billion euros for the first time. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached €391 million, almost on par with the level of the previous strong year (€397 million). At 19.0%, the EBITDA margin was lower than the previous year's figure (20.4%), but still at a high level.
The company acknowledges that sales growth was mainly due to positive exchange rate (7%) and acquisitions (1%) effects. Adjusted for these purposes, operating sales in 2015 were 2% lower and therefore slightly below the strong results of the previous year.
"Despite the unexpectedly slow development of demand in some markets, Altana remained on track in 2015," said Martin Babilas, CEO of Altana AG since January 1, 2016. "We are very well positioned for even more profitable growth, including growth under our own momentum."
The distribution of Altana Group sales by region remains balanced, Europe accounting for 39% of total sales, 30% Asia, and 29% for the Americas. As in the previous year, the group's highest growth rate was achieved in the Americas, where sales increased by 15%. U.S. sales increased by 14%.
Accounting for 20% of Altana's total sales, the United States remains the company's largest market. Sales in Asia grew by 4%. Operating sales in Asia and the Americas were lower compared to the previous year, due to the economic downturn in China and weak demand from the oil and gas industry. Nominal and operating sales in Europe remained stable at the previous year's level.
In 2015, Altana continued to invest heavily in innovation. Research and development expenditure amounted to €128 million. This corresponds to an increase of 12% over the previous year.
