Altana's EBITDA up 50%, after drug division sale

German chemicals company Altana AG says that its program of restructuring, which included the sale of its Pharmaceutical division to Denmark's Nycomed (Marketletter December 12, 2006), has been a success and will enable sustained growth. Under the group's new structure, its earnings before interest, taxes, depreciation and amortization were 186.0 million euros ($247.2 million), an increase of 50% on the 124.0 million euros that the comparable part of the business achieved in 2005.

Altana Pharma's 2006 sales hit 2.2 B euros

Prior to its divestiture, which was completed on January 1, Altana Pharma achieved EBITDA of 754.0 million euros, up 9% on the income it saw in 2005. Altana AG said that a 9% increase in product sales, to 2.2 billion euros, from its therapeutics division, was responsible for the earnings expansion. Altana AG added that, with a 26.7% return on sales and an operating margin of 29.3%, Altana Pharma had achieved record results.