Apr 27 2006, 2:33 AM EST
News source: Business Wire
ALTANA AG:-- Significant double-digit growth: Sales +28%, Net Income +25%
-- Optimistic outlook for 2006 confirmed
ALTANA AG (NYSE:AAA)(FWB:ALT)(GER:ALT) increased consolidated sales by 28% to EUR 948 million in the first quarter of 2006. This growth was generated by, in particular, the acquisition of the ECKART Group in the previous year, and encouragingly strong development in the pharmaceuticals and chemicals businesses. Adjusted for acquisition/divestment and currency effects, operating sales increased by 12%. "Our first-quarter performance provides impressive confirmation that ALTANA is on the way to another record year in 2006, our eleventh in succession," commented Dr. Nikolaus Schweickart, President and CEO of ALTANA AG.
EUR 789 million of the total sales were generated outside Germany, which is equivalent to a foreign business share of 83%. Domestic sales amounted to EUR 159 million, up 14% on the same period of the previous year. European sales outside Germany climbed by 16% to EUR 306 million. Double-digit sales growth (+43%) to
EUR 278 million was also recorded in North America. The good performance in Asia continued with growth of 37% to EUR 92 million.
At EUR 229 million (2005: EUR 180 million), the operating profit figure EBITDA, was substantially higher than in the previous year. EBIT rose by 23% to EUR 185 million (2005: EUR 150 million). Earnings before taxes (EBT) also totaled EUR 185 million, +22% more than in 2005 (EUR 152 million). First-quarter net income amounted to EUR 118 million (2005: EUR 94 million), up 25% on the previous year's figure.
The operating return (EBITDA) was 24.2% in the first quarter of 2006. The return on sales before taxes (EBT) was 19.5%. Earnings per share rose by 24% to EUR 0.87.
As of March 31, 2006, ALTANA employed about 13,400 people worldwide, an increase of 25% on the same period in the previous year. Disregarding exceptional effects, some 500 new jobs were created worldwide.
ALTANA Pharma: Dynamic development
ALTANA Pharma AG, Constance, increased its sales by 17% to EUR 624 million in the first quarter of 2006.
The core Therapeutics business reported growth in sales of 18% to EUR 539 million. Despite higher investment in R&D and the high costs associated with the market launch of Alvesco(R), ALTANA Pharma succeeded in increasing first-quarter earnings before taxes (EBT) by 19% to EUR 156 million. At 25%, the return on sales before taxes (EBT) reached another record value. The operating return (EBITDA) was 29%.
Gastro franchise
Pantoprazole (Pantozol(R)/Protonix(R)), the innovative gastrointestinal drug, continues to deliver strong growth. ALTANA Pharma's own sales of Pantoprazole totaled EUR 361 million, which translates as an increase of 18%. Worldwide market sales, all sales partners included, were up 22% to EUR 765 million in the first three months of 2006. Europe (excluding Germany) saw continued growth with Pantoprazole (+19%). Sales in Germany fell 13% below last year's level due to the strong first-quarter results achieved in 2005 and the initial impact of the government-imposed cost-cutting measures. Market sales of US$482 million (+18%) were achieved in the U.S. market. Pantoprazole's share in total prescriptions in the proton pump inhibitor market in the U.S. was about 20% at the end of March 2006.
Respiratory franchise
ALTANA Pharma achieved a total sales volume of EUR 19 million with respiratory drugs in the first quarter of 2006. Sales of Alvesco(R) (Ciclesonide) totaled EUR 3.4 million. This innovative corticosteroid inhaler for the treatment of asthma is now approved in 37 markets and has been launched in 18. Further market launches are planned this year.
In February 2006, the indication of Alvesco(R) was extended to treat persistent asthma in adolescent patients aged 12 ye
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