Group Management Report

In 2019, ALTANA mastered a challenging market environment and at the same time invested heavily in the future.

The weakening of demand in important industrial sectors, in particular the automotive industry, which already began in mid-2018, and the overall economic downturn, particularly in China, had a significant impact on the entire business year. The slightly lower material cost quota and a stringent cost management had a positive effect, but were unable to fully compensate for the sales-related decline in earnings. Nevertheless, the EBITDA margin remained within the long-term target corridor of 18 to 20 percent, despite considerable expenses for research and development and digitalization. In addition, we set the course for ALTANA‚Äôs future profitable growth through acquisitions.