Altana Forecasts Sales to Double by 2020, Helped by AcquisitionsSheenagh Matthews
Altana AG, the German specialty chemicals maker owned by billionaire Susanne Klatten, plans to double sales to 3.5 billion euros ($4.8 billion) by the end of the decade, boosted by acquisitions.
Revenue will probably increase in the “high single-digit” percentage range this year as sales from acquisitions will be included in its books for the first time for the whole year, the Wesel, Germany-based company said today. Profitability will be similar.
Chief Executive Officer Matthias Wolfgruber said today markets should improve particularly in Europe. Altana accelerated growth by buying Rockwood Holdings Inc.’s clay-additives unit for $635 million and a coatings division from Henkel AG last year.
“Growth should be reflected not only by sales growth to 3.5 billion euros, but also by new jobs,” Wolfgruber said in the statement.
Earnings before interest, tax, depreciation and amortization rose 4 percent to 336 million euros in 2013. Sales also gained 4 percent to 1.77 billion euros.