Chemical group Altana keeps growing: +8% in 2017 sales

Germany-based chemical group Altana has published its 2017 financial results, which confirm the positive momentum of the group owned by Susanne Klatten (BMW). When announcing the results, CEO Martin Babilas has reported a significant increase in sales and profits in the US and Asia, which together have taken the group’s revenues to a record €2.25bn, that is 8% better than 2016. EBITDA increased by 4% to €470m, that is 21% of the group’s revenues–a result making Altana one of the most profitable chemical groups. In addition, Babilas has announced that it expects a further 2-5% sales growth in 2018, while EBITDA will increase by as little as 1% due to the increase in raw materials’ cost.

(Source: FAZ)