ALTANA achieves double-digit growth in 2024 and invests heavily in the future
Sales increase by 16 percent to 3,169 million euros
The specialty chemicals group ALTANA achieved double-digit growth in the 2024 fiscal year while once again making significant investments in the future. The company increased its sales by 16 percent to 3,169 million euros (previous year: 2,742 million euros). One growth driver was heightened demand for ALTANA Group solutions, which far outpaced overall market growth. Acquisitions completed in the fall of 2023 and in January 2024 also contributed to this increase. Adjusted for acquisition and exchange-rate effects, sales rose by 7 percent. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 27 percent to 490 million euros (previous year: 385 million euros), despite substantial costs related to integrating the acquisitions. This improvement was primarily fueled by the significant sales increase. The EBITDA margin reached 15.5 percent (previous year: 14.0 percent).
In 2024, ALTANA increased its already high research and development expenditure by a further 8 percent to 213 million euros. This corresponds to 7 percent of sales, remaining well above the industry average. At the same time, the company invested 180 million euros – 30 percent more than in the previous year – in sites, digitalization, and sustainability.
“Investing in the future regardless of economic fluctuations”
“The year 2024 has once again demonstrated: our innovative and financial strength, the acquisitions and investments made, and, above all, the resilience of our business model – proven over many years – position us ideally,” said Martin Babilas, the CEO of ALTANA AG. “Our ability to achieve double-digit growth under persistently challenging market conditions is primarily due to the performance and dedication of our employees worldwide. We will continue to build on our strengths as an innovation-driven, customer-oriented, decentralized specialty chemicals group, investing in the future regardless of economic fluctuations.”
Site expansion driven forward
In 2024, ALTANA continued to drive the expansion of its global site network across all divisions. At its headquarters in Wesel, detailed planning began for a state-of-the-art innovation, laboratory, and seminar complex, with an investment of 25 million euros. In the fall, the company opened a new plant for wire enamels in Zhuhai, southern China, with a total investment exceeding 20 million euros. Additionally, ALTANA acquired land in India for a new, cross-divisional site and invested in increasing the capacity of its U.S. facilities in Connecticut and North Carolina.
Nearly greenhouse gas-free by 2050
In 2024, ALTANA took a significant step forward in its commitment to climate protection. The company pledged to operate virtually greenhouse gas-free worldwide by 2050, aiming for net zero emissions. This commitment extends across the entire value chain (Scope 1 to 3). Between 2014 and 2023, the specialty chemicals group had already successfully reduced greenhouse gas emissions within its direct sphere of influence (Scope 1 and 2) by approximately 70 percent globally.
Outlook: Further growth
For 2025, ALTANA does not expect any fundamental changes of the overall economic conditions and therefore anticipates moderate global economic growth at a level on a par with the previous year. In this still challenging environment, ALTANA forecasts operating sales growth in the mid-single-digit percentage range and a further improvement in earnings profitability, mainly due to stable product demand.
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