Business News
ALTANA Annual General Meeting resolves dividend of 10 cent per share
Wednesday 13. May 2009 - Payout ratio of 13%; Financial stability further strengthened
At the companys Annual General Meeting in Duisburg the shareholders of ALTANA AG approved the dividend proposal made by the Management and Supervisory Boards. As a result, the shareholders of the Wesel-based specialty chemicals Group receive a dividend of 10 cent per share for the past business year. This corresponds to a payout ratio of 13% measured in terms of net income (EAT). The dividend does not only give ALTANAs shareholders an appropriate share in the companys development, but also takes into consideration the difficult overall economic environment. On the whole, the financial stability of ALTANA will therefore be further strengthened.
Key developments of the past business year
In the business year 2008, ALTANA achieved sales of 1,341.7 million, which is about 3% or 38 million less than in 2007. Adjusted for negative exchange rate effects as well as minor positive acquisition and divestment effects, the operating decrease was 2%. Sales declined in all regions. With sales at 664.8 million, corresponding to nearly half of the companys total sales, Europe reported a decrease in sales of 2%. In the Americas sales were down by 7%; adjusted for exchange rate effects of 3%, sales fell to 305.9 million. At 325.7 million (-1%) sales in Asia almost reached the prior-year level. The development in this region, however, was burdened by the higher than average sales decrease in China (- 6%), in particular in the fourth quarter of the past business year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) declined from 248.5 million to 242.9 million, corresponding to a decrease of 2%. At 170.3 million, the operating income (EBIT) was slightly increased on the previous year (+2%) due to lower depreciation and amortization. At 158.7 million, earnings before taxes were significantly down on the 2007 figure (214.3 million). The latter, however, had been influenced by the income from the investment of the sales price for ALTANA Pharma (55 million). The companys net income (EAT) totaled 103.4 million.