Business Performance
Group Sales Performance
Group sales totaled € 2,666.5 million in 2021, an increase
of 22.4 % or € 488.4 million compared to the previous year
(€ 2,178.2 million). Non-operating effects generally had
a slightly positive impact on sales development. The aforementioned
negative exchange-rate changes resulted in a
slight sales decrease of less than 1 %. Acquisitions, on the
other hand, increased sales by a total of € 28.9 million.
The effects were calculated in each case on the basis of the
months in which the acquired business belonged to the
Group. Of this amount, € 13.0 million related in particular
to the acquisition of Henkel’s closure materials business
for the ACTEGA division on May 7, 2021, € 7.5 million to the
acquisition, back in 2020, of Schmid Rhyner AG in Switzerland
for the ACTEGA division, and € 8.3 million to the business
activities of TLS Technik GmbH & Co. Spezialpulver KG
in Bitterfeld, Germany, acquired for the ECKART division on
February 1, 2021. Adjusted for currency and acquisition
effects, sales were 21.9 % above the prior-year figure.
This not only far exceeded the operating sales growth in
the low to mid single-digit percentage range forecast at
the beginning of the year for 2021, but was also the strongest
sales growth of the past ten years. The upturn that had
already begun in the fourth quarter of 2020 picked up considerable
momentum in the course of the first quarter of
2021. Overall, historically high capacity utilization and record
sales were reported in almost all areas in 2021, so that by
the end of 2021 nearly all business areas had already reached
or in some cases even significantly exceeded the sales level
of 2018. This was mainly achieved by increasing sales volumes,
but also by improving the product mix and adjusting sell-
ing prices as a result of higher raw material and logistics costs.
Key figures
2020 2021 Δ % Δ % op.¹
in € million
Sales 2,178.2 2,666.5 22 22
Earnings before interest,
taxes, depreciation and
amortization (EBITDA) 426.0 481.7 13 14
EBITDA margin 19.6 % 18.1 %
Operating income (EBIT) 185.7 322.8 74 77
EBIT margin 8.5 % 12.1 %
Earnings before taxes
(EBT) 142.7 275.0 93 96
EBT margin 6.6 % 10.3 %
Net income (EAT) 75.1 195.2 > 100
EAT margin 3.5 % 7.3 %
¹ Operating deviation, i. e. adjusted for acquisition and divestment as well as exchange-rate
effects. This adjustment also applies to other sections of this management report.
Sales by division
1
4
2
3
14.3 %
22.3 %
46.0 %
17.4 %
in € million 2020 2021 Δ % Δ % op.
1 BYK 1,008.7 1,227.2 22 23
2 ECKART 315.2 382.8 21 20
3 ELANTAS 463.3 593.6 28 28
4 ACTEGA 391.0 462.9 18 15
Total 2,178.2 2,666.5 22 22
54 Business Development