Earnings plummet at Altana in 2009 - annual sales fall 12%

摘要

Earnings before interest and taxes fell 71% last year at speciality chemicals group Altana. The German group reported EBIT of euro 49.2 million for 2009 compared to euro 170.3 the previous year.Sales at the group fell 12% year-on-year, with the steepest decline in the Effect Pigments division, which saw sales decline 20%, from euro 350.7 million in 2008 to euro 282.3 million in 2009. Altana said the division's recovery in the second half of 2009 started late and was less dynamic. There was sluggish development in important markets, particularly the automotive industry.