ALTANA Reports Positive Performance in 1Q 2008, Approves Dividend Plan

ALTANA continued its positive development over the first quarter of 2008. Compared to the prior year’s period, sales as well as operating earnings increased in spite of the cloudier general economic conditions, especially in the U.S.
    
Sales amounted to €357.6 million ($565 million), following €348.6 million ($465 million) in the prior year, corresponding to an increase of 3 percent. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose disproportionately to sales by 16 percent to €71.7 million ($113.2 million). At 20.1 percent, the EBITDA margin was at the upper end of ALTANA’s medium-term target range of 18 to 20 percent.
    
The first quarter business performance of all divisions was influenced by negative exchange rate effects (in particular the U.S. dollar). The BYK Additives & Instruments division was able to increase sales by 7 percent, with sales growing to €120.2 million ($190 million). EBITDA rose by 5 percent to €37.1 million ($58.6 million).
    
At €93.9 million ($148 million), sales in the ECKART Effect Pigments division were up by 5 percent. At €21.0 million ($33.2 million), EBITDA remained almost unchanged,
    
Sales in the ACTEGA Coatings & Sealants division were slightly down to €55.4 million ($87.5 million), a decrease of 3 percent). EBITDA rose by 2 percent to €6.5 million ($10.3 million) due to concentration on higher-margin products.
    
“Despite the more difficult market environment, especially in the U.S., we were able to once again increase sales and earnings in comparison to the excellent first quarter of 2007,” said Dr. Matthias L. Wolfgruber, CEO of ALTANA AG. “We therefore still hold firm with our expectation of a positive business year 2008 and we are confident to achieve our earnings goals.”
     
At the company’s annual general meeting in Frankfurt, the shareholders of ALTANA AG approved the dividend proposal made by the supervisory and the management board. As a result, a regular dividend of €0.25 per share for the past business year will be distributed.