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| | ALTANA continues growth course over the first half-year of 2005 |
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date: Aug 7th 2005 12:34
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ALTANA AG (NYSE: AAA, FSE: ALT) increased first-half consolidated sales in 2005 by 5% to €1.55 billion. Adjusted for divestment effects in the Chemicals division, the operating growth was 7%.
Exchange rate fluctuations had no impact on sales figures. „With the half-year mark and especially with a strong second quarter behind us, we remain on our ambitious growth course for 2005 as a whole, for which we expect our business volume to grow by 6 to 8% , explained Dr. Nikolaus Schweickart, President and CEO of ALTANA AG.
Of total sales, approximately €1.3 billion, i.e. 82%, were generated outside Germany. Thanks to a surprisingly robust pharmaceuticals business, sales in Germany amounted to €277 million in the first half-year, 18% more than in the prior year. With sales up by 9% respectively, Europe and Asia were the market regions which boosted growth, followed by the Latin American market with an increase in sales of 7%. In North America, at 27% the second most important market region after Europe, business volume slightly decreased, by -3% expressed in local currencies, and by -5% expressed in euros. This decrease was partly due to fluctuations in the supply rhythm of Pantoprazole.
ALTANA’s earnings situation was influenced primarily by high sales and marketing expenditure in the pharmaceuticals business as well as one-off items in connection with the reorganization of the Coatings & Sealants business unit of ALTANA Chemie. In addition, there was a one-time contribution to second-quarter earnings of €26 million, resulting from the termination of the Daxas® cooperation with Pfizer, as upfront and milestone payments previously received and posted in the balance sheet as items to be deferred over the lifetime were amortized. This impact will be offset by increasing R&D expenditures over the whole of 2005.
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article 'ALTANA continues growth course over the first half-year of 2005' source is Altana Pharma AG, visit source site:
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