Overall Assessment of Our Business
Performance and Business Situation
After the pandemic-related declines in business performance
in 2020, 2021 was characterized by an extraordinarily strong
demand-driven business development. At ALTANA, this was
reflected in double-digit sales growth and high capacity utilization,
which continued throughout the year. However, bottlenecks
in raw material availability and logistics services, which
came to a head from the second quarter of 2021 onward,
and the resulting price increases, some of which jumped sharply,
put considerable pressure on margins, which could be partially
offset by sales price adjustments. Overall, ALTANA achieved its
highest earnings before interest, taxes, depreciation and amor-
tization (EBITDA) to date. The earnings margin was within our
strategic target range. We also achieved our goals in the area
of occupational safety and climate protection in 2021. At the
same time, we continued to press ahead with our strategic
activities to develop medium- to long-term growth areas and
with the digital transformation.
Our balance sheet continues to show a very solid structure at
the end of 2021 and offers sufficient financial headroom for in-
vestments in sustainable profitable growth.
Subsequent Events
No events subject to reporting requirements occurred after
the balance sheet date.
74 Declaration on Corporate Governance I Subsequent Events I Expected Developments