08 August 2012 10:26 [Source: ICIS news]
LONDON (ICIS)--Altana’s first-half net income rose slightly to €89.9m ($111m) from €89.8m in the same period last year, as sales increased despite difficult trading conditions, the German specialty chemicals company said on Wednesday.
Altana’s sales during the half rose 5% year on year to €886.4m as slightly declining volumes were offset by price increases and product-mix effects, it said.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) improved by 4% to €179.6m, compared with €172.9m in the first half of 2011.
"Despite the difficult overall economic conditions, we were able to further increase sales and EBITDA compared to the strong prior-year figures," said Matthias Wolfgruber, CEO of Altana.
"Based on our clear focus on innovative specialties and our flexible business model we are confident that we remain able to operate successfully even under ongoing uncertain and volatile market conditions," he added.
As a result of increased global economic risks, Altana said it expects a further moderation of demand for the second half of the current business year.
“Nevertheless, compared to the previous year, we currently expect a moderate growth in sales for 2012 as a whole. Consequently, the EBITDA margin should remain within the target range of 18% to 20% in 2012,” Altana said.
($1 = €0.81)
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