International. The company increased its sales by 16 percent to €3.169 billion (previous year: €2.742 billion). A key driver of the growth was the increased demand for the ALTANA Group's solutions, which far outpaced the overall market growth. Acquisitions completed in autumn 2023 and January 2024 also contributed to this increase. Adjusted for acquisitions and exchange rate effects, sales increased by 7%.
Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 27 percent to €490 million (prior year: €385 million), despite significant costs related to the integration of acquisitions. This improvement was mainly due to the significant increase in sales. The EBITDA margin reached 15.5 percent (prior year: 14.0 percent).
In 2024, ALTANA increased its already high investment in research and development by a further 8% to €213 million. This represents 7% of sales, remaining well above the industry average. At the same time, the company invested €180 million (30% more than the previous year) in plants, digitalization and sustainability.
"Investing in the future regardless of economic fluctuations"
"The year 2024 has once again demonstrated that our innovative and financial strength, the acquisitions and investments made and, above all, the resilience of our business model, demonstrated over the years, position us in an ideal position," said Martin Babilas, CEO of ALTANA AG. "Our ability to achieve double-digit growth in persistently challenging market conditions is mainly due to the performance and dedication of our employees all over the world. We will continue to build on our strengths as a decentralized, innovation-driven, and customer-oriented specialty chemicals group, investing in the future regardless of economic fluctuations."
Site expansion is boosted
In 2024, ALTANA continued to drive the expansion of its global network of locations across all its divisions. At its headquarters in Wesel, detailed planning for a state-of-the-art complex for innovation, laboratory and seminars began, with an investment of 25 million euros. In the autumn, the company opened a new wire enamelling plant in Zhuhai, southern China, with a total investment of more than €20 million. In addition, ALTANA acquired land in India for a new interdivisional headquarters and invested in increasing the capacity of its U.S. facilities in Connecticut and North Carolina.
Growth in all divisions
In 2024, all ALTANA divisions contributed to the company's growth. The largest division, BYK, recorded an 11% increase in sales, both nominal and operating, to €1.337 billion. ECKART, a specialist in effect pigments, achieved sales of 434 million euros, an increase of 24%. The acquisition of the Silberline Group in January 2024 had a positive impact in particular. Adjusting for acquisition and exchange rate effects, sales grew by 5% compared to the previous year. ELANTAS, a supplier of electrical insulation materials, recorded a 28% increase in sales to €878 million. This growth was mainly due to the integration of the Von Roll Group, acquired in September 2023. Adjusting for acquisition and exchange rate effects, sales were 4% higher than in the prior year. ACTEGA increased its sales of sustainable solutions for the packaging and graphic arts industry by 5% to €519 million.
Europe remains the strongest region in terms of sales, with strong growth in Asia
In 2024, demand increased in all sales regions, with global sales driven by recent acquisitions. Europe remained the strongest sales region, with sales up 13 percent to €1,172 million. Adjusted for acquisition and currency effects, the increase amounted to 2%. Business in Germany grew by 15 percent, with a 3 percent increase in operating terms. Sales in the Americas increased by 12% (4% in operating terms) to €886 million. The U.S. market saw an 11% increase, with operating sales remaining at the prior-year level. Asia recorded the highest growth. Sales in the region increased by 22 percent (17 percent operationally) to €1.054 billion. In China, ALTANA achieved a sales increase of 20 percent (15 percent operationally), while the growth market of India saw an increase of 21 percent (13 percent operationally).
