Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: Approximately 8,000.

Comments: ALTANA AG, a leader in specialty chemicals worldwide, is made up of four divisions: BYK, ECKART, ELANTAS and ACTEGA. ECKART is a leading supplier of metallic inks and pigments, and ACTEGA has a large presence in packaging inks, coatings and overprint varnishes.

In 2024, ALTANA increased its sales by 16% to €3,169 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 27% to €490 million, in spite of costs related to integrating acquisitions. ECKART’s sales grew 24% to €434 million, driven by the acquisition of the Silberline Group in January 2024. Led by sustainable solutions for the packaging and graphics industry, ACTEGA increased its sales by 5% to €519 million.

“The year 2024 has once again demonstrated: The ALTANA Group is through its innovative and financial strength, the acquisitions and investments made, and, above all, the resilience of the business model – proven over many years – ideally positioned for sustainable long-term growth” said Martin Babilas, CEO of ALTANA AG. “The company will continue to build on its strengths as an innovation-driven, customer-oriented, decentralized specialty chemicals group, investing in the future regardless of economic fluctuations.”

On the graphic arts side, ACTEGA is actively shaping a sustainable future in the print and packaging industries with its highly specialized solutions. As an example, ACTEGA launched its ACTKote UV wash-off primer, an addition to its portfolio of sustainable solutions, designed to increase the recyclability of shrink sleeves.

ALTANA is committed to decarbonization by improving the sustainability of its products and those of its customers, and ECOLEAF has solidified its role as a pivotal innovation within ACTEGA’s portfolio. The technology has the ability to reduce the carbon footprint of on demand metallization embellishment by more than 80%. ECOLEAF was honored with the 2024 FINAT Sustainability Award in the Reduction of Environmental Impact category at the Sustainable Packaging Summit in Amsterdam.

Additional product innovations ACTEGA highlighted in 2024 were SafeShield low-migration inks and coatings, which are certified for low-migration applications. These products are compliant with global standards.

ALTANA has made significant investments in its production and R&D capabilities. ACTEGA has established a new 238,000 square foot facility in Kings Mountain, NC. This facility consolidates four existing premises from North Carolina and Indiana. The facility will house all ink technology development under one roof, fostering synergy in R&D, technical service, and quality control.

In October 2024, ACTEGA announced the appointment of Stuart Hayes, the new managing director for ACTEGA North America. Hayes brings more than 25 years of experience in the specialty chemicals industry, having held various operational, strategic, managerial, and sales positions. While with Evonik, Hayes helped to craft a holistic sustainability roadmap for the North American region.

Sustainability will be key to ALTANA’s growth going forward.

“Sustainable products are a key driver for the ALTANA Group’s long-term growth,” an ALTANA spokesperson observed. “Converters, brand owners, governments, and consumers around the world are prioritizing environmentally responsible solutions for print and packaging. For ALTANA, the most impactful solutions need to deliver value to our customers while being responsible stewards of our natural resources.”

ALTANA anticipates moderate growth throughout the rest of 2025.

“For 2025, ALTANA anticipates moderate global economic growth at a level on a par with the previous year,” ALTANA’s spokesperson noted. “What we have seen in the previous year, growth is coming from the sustainability-focused innovations. That’s where future opportunities lie: in solutions that help customers reduce their environmental footprint while enabling high performance and efficiency.”

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: Approximately 8,000

Comments: A global leader in specialty chemicals, ALTANA AG consists of four divisions: BYK, ECKART, ELANTAS and ACTEGA. In terms of ink and graphic arts, ECKART is a leading supplier of metallic inks and pigments, and ACTEGA has a major presence in packaging inks, overprint varnishes and coatings.

In 2022, ALTANA broke the $3 billion mark in sales, but 2023 proved to be challenging, with sales declining 9% to €2.7 billion ($2.9 billion). ECKART’s sales were €351 million, a 12% decline, while ACTEGA sales were €496 million, down 11%.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was €385 million ($415 million), a decrease of 15%, largely due to high raw materials prices as well as three acquisitions, including the Van Roll Group, the second largest acquisition in the company’s history.

“2023 was a year of challenges, but also one in which we courageously seized opportunities,” said Martin Babilas, CEO of ALTANA AG, in announcing the results. “We made strategic acquisitions, further expanded our research and development initiatives, invested significantly in our sites, and advanced our digitalization efforts. In doing so, we have set the course for the future. 2023 stands as a valuable year for ALTANA.”

In another key acquisition, ALTANA added the Silberline Group, a specialist in effect pigments for automotive coatings, printing inks, plastics and other end uses. With sales of $80 million in 2022, Silberline Group was well positioned in North America and Asia.

“The local research and production capacities of Silberline and ECKART complement each other perfectly. The merger will enhance our ability to respond flexibly to regional customer needs and further optimize our service quality,” noted Dr. Christian Przybyla, president of ECKART, in announcing the acquisition.

One sustainable solution that took the spotlight in 2023 was ECOLEAF. This solution is now running at faster production speeds, enabling printers and converters producing labels for fast moving consumer goods to take advantage of ECOLEAF on-demand metallization.

ALTANA made significant investments in its production and R&D capabilities during the past year. ACTEGA confirmed a $5 million investment in its New Jersey facility and is implementing advanced technologies with the aim of increasing automation process reliability and efficiency.

ACTEGA also revealed its plans to open a new, extensive facility in Kings Mountain, NC. With the goal of bringing together four existing premises located in North Carolina and Indiana, the site is expected to create additional jobs once operational and new opportunities for growth across the ACTEGA business lines. This facility will occupy 22,110 square meters – twice the space of ACTEGA’s four locations in North America combined.

In addition to these, ACTEGA has successfully merged its three Brazilian sites into a new 22,500 square-meter facility in Araçariguama, São Paulo. This state-of-the-art production and R&D site is the result of a $7 million investment over the last years and cements ACTEGA’s position as an industry leader in the region.

ALTANA will once again invest heavily in the future in 2024. Among other things, the specialty chemicals group is planning a new, cross-divisional site in India and the construction of a new laboratory building at its headquarters in Wesel. ALTANA has secured additional financial flexibility for further growth through a promissory note loan with a sustainability component issued in November 2023.

As for the rest of the year, ALTANA anticipates moderate growth in the global economy for 2024, consequently foreseeing a positive development in demand. The company projects an operating sales growth in the mid-single-digit percentage range. The acquisitions of Von Roll, Silberline and Imaginant will further contribute to this growth. Additionally, ALTANA forecasts an improvement in earnings profitability for the year 2024.

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: More than 7,000

Comments: ALTANA AG is a global leader in specialty chemicals, made up of four divisions: BYK, ECKART, ELANTAS and ACTEGA. In terms of ink and graphic arts, ECKART is an industry leader in metallic inks and pigments, and ACTEGA has a strong presence in packaging inks, overprint varnishes and coatings.

ALTANA had a record sales year in 2022, breaking the $3 billion mark and closing the year at €3.021 billion, up 13% from 2021 and an increase of nearly 40% in the last two years. Earnings before interest, taxes, depreciation and amortization (EBITDA) were above the average of the previous years, at €452 million, but 6% below the figure for 2021 due to high material, energy, and freight costs. The EBITDA margin was 15 percent due to inflation and therefore below the long-term target range.

“In spite of all the challenges, ALTANA once again completed a successful year in 2022,” said Martin Babilas, CEO of ALTANA AG, in announcing the results. “The past year once again made two qualities of the entire ALTANA team clear: Our company is highly resilient even in very turbulent times, primarily due to our financial and innovative strength as well as our flexible and customer-oriented positioning. Secondly, we not only react to external factors of influence, but actively make important contributions to meeting the great challenges of our time, first and foremost climate change.”

On the graphics arts and ink side, ECKART recorded sales of €397 million, or 4% growth, while ACTEGA sales were up 20%, at €555 million.

In a significant move, ACTEGA announced plans to open a new 238,000 square foot facility in Kings Mountain, NC, which will bring together four existing facilities located in North Carolina and Indiana. The new facility will occupy twice the space of ACTEGA’s four locations in North America combined, and is set to open in Q2 2024.

The new facility will offer a state-of-the-art pigment dispersions process, manufacturing of metal decorating inks, production of indirect food contact printing inks and direct food contact barrier coatings.

“This new production site will become an important part of ACTEGA’s global infrastructure with expanded manufacturing capabilities in North Carolina and New Jersey in North America while allowing us to leverage advanced technologies and increase our capacity significantly to meet the growing demand for our products and solutions,” said Andrei Sotkeviciene, recently appointed resident of ACTEGA North America, in announcing the plans.

ALTANA spends 7% of its revenue on R&D, leading to new technologies such as ACTGreen Barrier Coatings, ECOLEAF and Signite, which are both sustainable and successful. ECOLEAF is a sustainable metallization technology that significantly reduces economic barriers, such as material and waste, and offers increased production flexibility compared to today’s conventional processes that are mainly foil-based.

“We have continued to invest in new technologies,” an ALTANA spokesperson noted. “ACTEGA as an example further invested in ECOLEAF and Signite and has achieved its goals focused on supporting their development and adoption. As a result, ECOLEAF market adoption accelerated in 2022 with multiple installations across Europe. Initial calculations from our Life Cycle Assessment find that ECOLEAF can achieve a carbon footprint reduction of more than 50 percent compared to cold and hot foil processes. Signite enables brands to achieve more from their product decorations.”

“Sustainability is at the core of our business,” the ALTANA spokesperson noted. “ALTANA’s division ACTEGA wants to make the packaging industry even more sustainable. As such, our focus on reducing our impact on the planet, both from a company perspective and a wider, product and industry point of view, combined with our drive to support long-term success for brands and customers, gives us clear direction.

“As an example, multi-layer substrates have typically been used as a barrier for packaging,” they continued. “However, the poor recyclability of these materials is a major drawback. The above-mentioned substrates are increasingly falling into disrepute and are subject to ever more comprehensive regulations. At the same time, the legal requirements for recycling or disposing of such production materials pose a major challenge for many processing companies. As a sustainable alternative, ACTEGA has developed ACTGreen Barrier Coatings, which include both water-based barrier coatings and aqueous TPE dispersions as coating or binder systems for various applications and end uses. These products are demonstrably sustainable, meeting upcoming regulatory requirements related to packaging waste and recyclability.

ALTANA anticipates continued growth in 2023, with new technologies leading the way.

“You will certainly see a further demonstration of our longstanding commitment to innovation, adding value to our customers’ businesses and the wider industry,” the spokesperson concluded. “Additionally, we will make further advances in our aim to create a circular ecosystem and reduce our climate impact. To give just one example: ALTANA’s division ACTEGA has already made significant progress by using its own electricity and heat from renewable sources. With the right mindset and resources at hand, 2023 is shaping up to be an exciting year.”

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: 6,731 as of Dec. 31, 2021

Comments: A global leader in specialty chemicals, ALTANA AG consists of four divisions: BYK, ECKART, ELANTAS and ACTEGA. In terms of ink and graphic arts, ECKART is an industry leader in metallic inks and pigments, and ACTEGA has a strong presence in packaging inks, overprint varnishes and coatings.

ALTANA CEO Martin Babilas noted that ALTANA closed the 2021 fiscal year with record results. Sales rose by 22% to €2,667 million. As a result, the specialty chemicals group achieved its strongest growth in the past 10 years.

“The growth was driven by great global demand for ALTANA solutions in almost all sales segments,” Babilas said. “Even adjusted for acquisition and exchange-rate effects, sales increased by around 22%. Earnings before interest, taxes, depreciation and amortization (EBITDA) climbed by 13% to €482 million. At 18%, the EBITDA margin was within the company’s long-term target range of 18% to 20%, despite the jump in material and logistics costs and the continued high spending in key areas such as research and development and digitalization.”

Babilas observed that overall, 2021 was an equally challenging and successful year, with sustainability a significant highlight.

“As a global team of over 6,700 colleagues, we did not only cope with the exceedingly high demand, but also set new standards in innovation, climate protection, and digitalization,” he reported. “ALTANA is thus ideally positioned for a sustainably successful future.”

Raw material costs remain on a high level, and Babilas said that ALTANA has positioned itself well to react to any challenges.

“In terms of supply security, we built up storage capacities very early worldwide and are well-positioned thanks to our global production structure and regional suppliers,” Babilas noted. “Flexibility is another important factor. Therefore, we have production sites in all important sales regions. This enables us to adapt production to the quantity for which there is demand. ALTANA acts with the same level of flexibility when it comes to logistics.”

So far, ALTANA has been able to continue its growth course of the previous year through the first half of 2022, but raw material, economic and geopolitical uncertainty make predicting the rest of the year difficult.

“Ongoing good order intake led to a largely constant delivery volume at a high level,” Babilas said. “In its planning for the 2022 fiscal year, ALTANA had based its expectations on further global economic growth, albeit to a lesser extent than in the previous year.

“In such an environment, the company had forecast operating sales growth in the mid-single-digit percentage range and earnings profitability at the previous year’s level in the context of a continued tense price situation in the areas of material, logistics, and energy costs,” added Babilas. “However, the impact of the war against Ukraine on demand, production, and supply processes cannot be estimated at present.”

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: 6,529 as of Dec. 31, 2020

Comments: In spite of the COVID-19 pandemic, ALTANA had a solid year, with sales essentially remaining flat while the company emphasized the safety of its employees.

“Our top priority in 2020 was to protect our 6,500 colleagues worldwide. On this basis, we once again succeeded in demonstrating ALTANA’s characteristic customer proximity in spite of physical distance,” said Martin Babilas, CEO of ALTANA AG. “Despite the challenges of the pandemic, ALTANA recorded only a slight decline in sales in the 2020 fiscal year. Indeed, in a year-to-year comparison, it actually saw an increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), with sales reaching €2,178 million – just 3% below the 2019 level.

“The business results also show how deeply ALTANA’s innovative solutions are anchored into the lives of many people,” Babilas added. “While demand in some segments, for example, in the automotive sector, declined significantly due to the pandemic, consumer-oriented and sustainable solutions from ALTANA increased in importance and sales.”

In particular, ALTANA’s ACTEGA division achieved significant growth in 2020 compared to 2019, increasing sales by 9% to €391 million.

“To achieve that, ACTEGA benefitted from a shift in consumer behavior towards more sustainable solutions, which included increased demand for products like our recently launched ACTGreen Barrier Coatings,” said Thorsten Kröller, president Division ACTEGA. “Reinventing recyclability in packaging production and end-product recycling, the ACTGreen Barrier Coatings range provides an effective, sustainable alternative to traditional plastic PE laminates, delivering the cost efficiencies and performance levels that brands have been seeking – especially during the COVID-19 pandemic.”

In 2020, ALTANA continued to invest in innovation which saw one of its start-up businesses, ACTEGA Metal Print, take a major step forward in the commercialization of EcoLeaf, its sustainable and cost-effective metallization technology. Despite the pandemic, EcoLeaf successfully went into beta at six print houses in Europe, receiving some amazing customer feedback.

In addition, Signite, another start-up business within the ACTEGA Group, also made good progress in 2020, advancing its breakthrough technology for sustainable labels. Depending on the decoration design, the technology can currently reduce label waste by more than 50%.

“This technology has the potential to revolutionize the label industry,” Kröller said. “Signite is a premium quality label decorating solution, designed to significantly reduce, and one day eliminate, waste in label production. It promises to be truly transformative, set to unlock a profitable and sustainable future for a number of markets.”

Kröller noted that raw materials remain a concern for ALTANA and for industry in general.

“During the COVID-19 pandemic, raw materials remained very volatile, impacting results in different ways,” he observed. “In 2021, both the availability and pricing of raw materials is and remains a major challenge for the whole industry.”

Kröller said that 2021 has started well, and ALTANA is currently on track to meet its business targets.

“In part, this is a result of the coronavirus pandemic being further contained and the global economy recovering, which has increased business and consumer confidence,” he continued. “However, it is also because, as mentioned, many of our solutions are delivering what our customers need today – increased efficiencies, increased performance and improved sustainability. Of course, we hope and expect this trend to continue throughout the year. However, the availability of raw materials and cost development will negatively impact business coming back to normal.

“Our outlook for the remainder of the year is in general positive,” Kröller added. “ALTANA expects the coronavirus pandemic to be further contained in the current year and the global economy to recover as a result. In this environment, the company forecasts operating sales growth in the low to mid-single-digit percentage range with a lower EBITDA margin compared to 2020.”

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: 6,476 as of Dec. 31, 2019

Comments: ALTANA held its ground in a challenging market environment during 2019, and at the same time set the course for further growth.

Sales amounted to €2,249 million, nearly 3% below the level of the previous year, which was still characterized by a strong first half in economic terms. Andrea Neumann, head of corporate communications at ALTANA, noted that the main reasons for this were the continuing sluggish demand in key industrial sectors, especially the automotive industry, and the general economic slowdown, especially in China.

Adjusted for acquisition and exchange-rate effects, sales decreased by 4%. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 3% to €416 million. At 18.5%, the EBITDA margin was roughly at the previous year’s level despite further increases in expenditure, particularly for research and development and digitization, and thus within the long-term target range of 18 to 20%.

“We invested heavily in promising growth projects in order to remain on course for sustained success. Even in a challenging market environment, we succeeded in achieving our long-term profitability targets,” said Martin Babilas, CEO of ALTANA AG. “We therefore once again demonstrated our highly innovative and financial strength.”

The effect pigment specialist ECKART achieved sales of €356 million, representing a 7% decrease. The discontinuation of trading with white pigments in China contributed to this development.

ACTEGA continued to grow in the 2019 fiscal year. Due to the persistently strong demand for coating and packaging solutions from consumer-related customer industries, the division increased its sales by 1% to
€358 million.

Neumann noted that in planning for the 2020 fiscal year, ALTANA had assumed there would be slightly stronger global economic growth in the second half of the year.

“In this environment, the Group had expected operating sales growth in the low single-digit percentage range and further growth through the acquisitions already completed. In such a scenario, the EBITDA margin would have been in the lower third of the long-term target range of 18% to 20%,” Neumann explained.

“However, the further course of the coronavirus pandemic and its impact on demand, production and supply processes cannot be assessed at present,” she added. “Although ALTANA achieved slight sales and earnings growth in the first months of the current year, the coronavirus pandemic will have a significant impact on the sales development and earnings situation in the coming months.”

In 2019, ALTANA pushed ahead with the expansion of its sites and production capacities in all regions of the world. In April, the Group opened a new integrated BYK site in Shanghai. In June, a new ACTEGA innovation center began operations in Grevenbroich, Germany, and in December, ACTEGA opened a new integrated site in the Brazilian city of Araçariguama.

ALTANA is currently significantly expanding BYK’s US site in Gonzales and ACTEGA’s site in Bremen. Expansion projects are also underway in Deventer in the Netherlands and Tongling in China. Another highlight was ACTEGA Metal Print, ALTANA’s internal startup, which is about to launch a technology that achieves decorative metallic effects with considerably less material, costs, and production time than the processes that have been commonly used thus far.

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Key Personnel: Martin Babilas, CEO; Stefan Genten, member of the Management Board; Dr. Christoph Schlünken, member of the Management Board; Dr. Stephan Glander, president Division BYK, Number of Employees: 6,428 as of Dec. 31, 2018.

Comments: A global leader in specialty chemicals, the ALTANA Group consists of four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation and ACTEGA Coatings & Sealants. ECKART Effect Pigments and ACTEGA Coatings & Sealants are leaders in their fields within the graphic arts and ink segments.

In its 2018 fiscal year, ALTANA remained on the growth path in a difficult market environment, as sales rose by 3% to €2,307 million. Adjusted for acquisition and exchange-rate effects, sales increased by 4%.

Dr. Sebastian Heindrichs, communications manager for ALTANA, noted that the 2018 fiscal year was characterized by varying dynamics.

“In the first half of the year, ALTANA continued its dynamic growth, which was accompanied by an appealing margin development despite rising raw materials prices,” Dr. Heindrichs observed. “But in the second half of the year, the demand in important user markets, including the automotive industry, was significantly more subdued. At the same time, accelerated raw materials price increases led to high margin pressure. Due to declining contribution margins, earnings before interest, taxes, depreciation and amortization (EBITDA) were down by 8% from the high level of the previous year to €431 million. At 18.7%, the EBITDA margin reached the target range of 18% to 20% again in 2018.

In 2018, BYK, the largest ALTANA division, increased its sales by 3% to €1,066 million. At ECKART, sales decreased by 1% to €383 million. Adjusted for acquisition and exchange-rate effects, sales increased by 1%. With sales up by 4%, the ELANTAS division reached sales of €507 million. At ACTEGA, sales grew by 3% to €353 million. Adjusted for acquisition and exchange-rate effects, the sales growth was 6%.

In 2018, ALTANA again steadily expanded its R&D activities in all divisions. The company’s activities were characterized by initiatives in the field of application-oriented research, the marketing of innovative products, and the development of new technologies. In total, R&D expenditures increased by 8% to €154 million in 2018. Also, in 2018, ALTANA made high-level investments in property, plant and equipment by expanding its BYK capacities in the additives segment in Gonzales, USA, and in Shanghai, China and by expanding its ACTEGA DS site in Bremen.

“We also made substantial investments that decisively enables the Israeli company Landa Digital Printing to take further steps on the way to marketing its innovative and revolutionary digital printing solutions,” Dr. Heindrichs said. “The proceeds from the Landa Digital Printing financing will be used for expansion of the company’s infrastructure and manufacturing capabilities, as well as for ongoing R&D and market development. With our participation in Velox, another startup in the digital printing sector, we also essentially strengthened our network in the field of promising technologies.”

In personnel news, at the end of September 2018, ALTANA named Thorsten Kröller to assume the leadership of the ACTEGA Division as of March 1, 2019. Kröller succeeded Dr. Roland Peter, who retired. At the same time, Kröller joined ALTANA’s Executive Management Team.

“Dr. Roland Peter looks back on a successful management career in our organization spanning over 20 years. After many years as the Head of BYK, he has been driving the realignment of ACTEGA since 2012. We would like to take this opportunity to thank him for his contributions to ALTANA and wish him all the best for the future,” said ALTANA CEO Martin Babilas. “In Thorsten Kröller, we have found the ideal successor for Dr. Roland Peter within our own ranks. Through his successful efforts at BYK, Thorsten Kröller significantly expanded the Business Line Plastics Additives, notably through the successful integration of targeted acquisitions. We are convinced that together with our employees, he will create a successful, sustainable future for ACTEGA.”

ALTANA places major emphasis on sustainability, and made important strides in this regard.

“To leverage the opportunities resulting from sustainability for ALTANA, in 2018 we decisively strengthened the sustainability management at our sites by establishing systematic sustainability criteria in relevant decision-making processes and with the help of many lighthouse projects around the globe,” Dr. Heindrichs said. “As a result, sustainability is no longer only an ambitious goal for us, but a fixed component of our business and working life. The importance of sustainability in our corporate action is also illustrated by the fact that as a member of the UN Global Compact we actively support the objectives of this important initiative for company management.”

ALTANA’s outlook for 2019 is influenced by a macroeconomic environment characterized by ongoing uncertainty, and Dr. Heindrichs  pointed out that the geopolitical framework conditions and trade disputes have dampened consumption and investment expectations in many countries.

“Our EBITDA margin should remain approximately on the level of the previous year and therefore within the strategic target range between 18% and 20%,” he concluded. “The 2019 fiscal year is expected to remain challenging. ALTANA anticipates a weaker global economic performance. Sales volumes are thus expected to develop moderately. However, sales and earnings development can be influenced by hard-to-predict exchange rates changes and further global economic development.”

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: 6,186

Comments: With more than €2.2 billion ($2.69 billion) in sales last year, the ALTANA Group is a global leader in specialty chemicals. ALTANA features four divisions: BYK, ECKART, ELANTAS and ACTEGA. Within the ink and graphic arts coatings segments, ECKART and ACTEGA are leaders in their respective fields.

ALTANA had an excellent year in 2017, with sales growing 8%. Earnings before interest, taxes, depreciation, and amortization (EBITDA) was up by 4% to €470 million, although EBITDA margin in 2017 declined somewhat to 20.9% from 21.8% in 2016 due to higher raw material costs.

In 2017, ALTANA achieved its highest sales growth in Asia, at 12%. China, the largest single market in the region and the company’s second most important sales region, expanded sales by 19% (nominal terms). This development was driven primarily by a strong increase in the need for sustainable product formulation solutions.

“The 2017 fiscal year was a further milestone in our growth history. Thanks to our customer proximity and innovative strength, as well as the acquisition of companies with innovative products and technologies, we were able to improve our sales and earnings once again,” said ALTANA AG CEO Martin Babilas. “At the same time, we paved the way for future success.”

For 2018, ALTANA expects further momentum in the global economy and thus further sales growth. The specialty chemicals company anticipates its sales to increase by 2% to 5% in operating terms, and the acquisitions made in the past fiscal year should provide additional sales impetus. Against the background of rising prices of raw materials, the EBITDA margin should decrease slightly toward the strategic range of 18% to 20%.

In the graphic arts market, ECKART’s sales rose 6% to €385 million, while ACTEGA’s sales were €343 million, down 3% primarily due to the sale of the ACTEGA Colorchemie group to Siegwerk in 2016.

Whereas in the UV and water-based inks and coatings segments ALTANA has to consider a more or less restrained development, the metallic inks and pigments segments are characterized by attractive growth.

ALTANA reported numerous highlight in 2017. The company continued to grow, improving sales and earnings once again. The additives and instruments specialist BYK exceeded the billion euro mark for the first time and sales increased by 13% to €1,030 million. ALTANA strengthened its position through successful acquisitions and the integration of high innovative companies like PolyAd Services, the metallography technology of Israeli Landa Group and the purchase of a technology portfolio for labels and packaging in the US.

Higher raw material costs were responsible for the slightly lower EBITDA this year, and it is likely that this trend will continue.

“Further raises in raw material prices and somewhat difficult shortages in the availability will be a challenge for the specialty chemicals industry in 2018,” an ALTANA spokesperson stated. “Raising raw material prices should continue to dampen the development of the EBITDA margin slightly. Overall, sales and earnings developments can also be influenced by hard-to-predict exchange rate changes.”

Sustainability is an important issue for ALTANA as the company consistently gears its activities to sustained profitable growth.

ALTANA’s understanding of sustainability as a triad of economy, ecology, and corporate social responsibility is also reflected in the company’s mission, which reads as follows: “We provide innovative solutions based on integrated chemical, formulation and application expertise that make products of daily life better and more sustainable. Our solutions open up growth or savings potential for our customers and can change entire markets. As a result, we create value for our customers, employees, shareholder, and society as a whole.”

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: 5,967

Comments: The ALTANA Group consists of four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation and ACTEGA Coatings & Sealants. ECKART Effect Pigments and ACTEGA Coatings & Sealants play sizable roles in terms of ink and graphic arts coatings.

ALTANA achieved again profitable growth and at the same time paved the way for a sustainable and successful future. Sales rose by 1% to €2,075 million; adjusted for acquisition and exchange rate effects, sales grew by 2% compared to the previous year. With Europe accounting for 39% of total sales, Asia for 31%, and the Americas for 28%, the ALTANA Group’s sales distribution according to regions continues to be balanced.

“2016 was a very good year for ALTANA. In a challenging market environment, we were able to increase our sales and earnings,” said Martin Babilas, CEO of ALTANA AG. “We are well on track for further profitable growth.”

To exploit ALTANA’s potential even better in the long run, the company developed an agenda for the future.

“With our ‘Keep Changing Agenda,’ we are creating the prerequisites for accelerating our growth, especially under our own steam,” Babilas noted. “We want to create sustainable value – for our customers, employees, our shareholder, and society as a whole. We consistently align our entire organization accordingly. We want to differentiate ourselves from the competition to an even greater extent through innovations, but also increasingly through sustainability, beyond our products and our customers’ manufacturing processes.

“Outside of our laboratories, too, we can only be successful in the long run if we firmly anchor ecological and social aspects in our company,” he added. “This is our understanding of sustainability and we have ourselves measured on this basis. The fact that we received the Gold Status in the renowned EcoVadis sustainability rating shows that we have already achieved a high standard.”

In March, ALTANA sold ACTEGA Colorchemie, which can now develop significantly better within the Siegwerk group. Conversely, in July the company acquired Addcomp Holland B.V., adding two new sites to its BYK division. At the same time, ALTANA continued to invest above-average amounts in R&D, totaling €129 million or 6% of sales. An example of the targeted expansion of the company’s R&D activities is the doubling of laboratory capacities of ACTEGA Rhenania in Grevenbroich.

For the 2017 fiscal year, ALTANA expects the global economy to exhibit slightly stronger growth than in the previous year and overall increasing sales volumes. In this environment, ALTANA anticipates to achieve operating sales growth of 2% to 5% with slightly lower earnings profitability. While acquisitions are expected to contribute to sales, the company’s nominal sales growth may be influenced by exchange rate changes that are difficult to predict.

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: 6,096

Comments: ALTANA AG passed the €2 billion mark for the first time in 2015, with sales increasing 5% to €2.059 billion overall. Earnings before interest, taxes, depreciation and amortization (EBITDA) was €391 million or 19%, fairly similar to 2014’s results.

“Despite unexpectedly sluggish demand development in some markets, ALTANA remained on track in 2015,“ said Martin Babilas, CEO of ALTANA AG. “We are very well positioned for further profitable growth, including growth under our own steam.”

The ALTANA Group consists of four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation and ACTEGA Coatings & Sealants. ECKART Effect Pigments and ACTEGA Coatings & Sealants play particularly large roles in terms of ink and graphic arts coatings.

In 2015, the ACTEGA Coatings & Sealants division achieved the strongest growth of all of ALTANA’s divisions. Following the acquisition of two companies in Brazil at the end of 2014, sales rose by 13% to €376 million. Operating sales in the ECKART Effect Pigments division grew by 5% to €350 million. The BYK Additives & Instruments division increased sales by 2% to €870 million.

In Early 2016, ALTANA combined ACTEGA WIT, the former Water Ink Technologies, a North American water-based ink maker, and ACTEGA Kelstar, which produces UV and water-based coatings for graphic arts for North America, into ACTEGA North America, Inc. By becoming ACTEGA North America, Inc., the company will have the ability to better service its growing customer base and offer them a superior product portfolio.

In March 2016, ALTANA agreed to sell its ACTEGA Colorchemie GmbH group to Siegwerk Druckfarben AG & Co. KGaA. Headquartered in Büdingen, Germany, ACTEGA Colorchemie produces water-based flexo printing inks, particularly for corrugated board packaging.

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: 6,064

Comments: ALTANA AG enjoyed an excellent year in 2014, with sales growing 11% to €1.952 billion, with acquisitions adding 7% to the Group’s sales growth. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 18%, amounting to €397 million. At 20.4%, the EBITDA margin reflects a clear margin expansion compared to the previous year (19.0%).

Dr. Matthias L. Wolfgruber, CEO of ALTANA AG, said that 2014 was a strong year for ALTANA. “We are well on track to continue on our path of profitable growth,” Dr. Wolfgruber added.

In important news, the Supervisory Board of ALTANA appointed Martin Babilas, ALTANA’s CFO since 2007, to become CEO on Jan. 1, 2016. He will succeed Dr. Wolfgruber, who will retire. In November 2014, Babilas took over additional responsibility of two of the company’s four divisions from Dr. Wolfgruber. Babilas has worked for ALTANA since 1998.

“Under the leadership of Dr. Wolfgruber, ALTANA’s chemical business has developed extraordinarily successfully in the last 13 years while undergoing constant changes,” said Dr. Klaus-Jürgen Schmieder, chairman of the Supervisory Board of ALTANA AG.

“As a longtime member of the Management Board, Martin Babilas has played a key role in the development of ALTANA’s strategy. We are convinced that he will continue to lead the company on this successful path.”

The ALTANA Group consists of four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation and ACTEGA Coatings & Sealants. ECKART Effect Pigments and ACTEGA Coatings & Sealants play particularly large roles in terms of ink and graphic arts coatings.

The ECKART Effect Pigments division, the leading metallic ink and pigment manufacturer in the world, also has a sizable position in pearlescent pigments. It generated sales of €332 million in 2014, 1% lower than in the previous year. This decrease is due to changes in the product mix with volumes remaining unchanged.

ACTEGA Coatings & Sealants includes a wide range of inks and coatings operations: ACTEGA WIT, the former Water Ink Technologies, a North American water-based ink maker; ACTEGA Colorchemie GmbH, a water-based flexo and gravure ink manufacturer; ACTEGA Terra GmbH and ACTEGA Kelstar, which produces UV and water-based coatings for graphic arts for Europe and North America, respectively.

Sales in the ACTEGA Coatings & Sealants division grew by 2% to €332 million. The increase includes positive acquisition effects from the integration of activities acquired in 2013. However, the acquisition of two companies in Brazil in December 2014 is not yet reflected in the increase.

The BYK Additives & Instruments division, ALTANA’s largest, includes waxes, additives and testing equipment. Compared to the previous year, its sales rose by 24% to €857 million. The successful integration of Rockwood’s rheology activities contributed 18% to this growth. Sales in the ELANTAS Electrical Insulation division rose by 4% to €431 million in the 2014 fiscal year.

In December 2014, ALTANA expanded its business in Brazil through acquisitions. As a result, the ACTEGA division now has its own sites in South America’s largest country.

The acquired companies are owner-operated and headquartered in São Paulo. Premiata, which operates Premiata Tintas and Premiata Especialidades Químicas, specializes, respectively, in printing inks and coatings for the packaging industry with 140 employees. Overlake is an overprint varnishes specialist with 70 employees at one site.

“Through these acquisitions we are systematically expanding our business in the growing Brazilian market,” said Babilas. “As both companies focus entirely on specialty chemicals and tailored customer solutions, they are a perfect match for ALTANA.”

In June 2014, ALTANA concluded an equity financing agreement with Landa Corporation under which ALTANA invested €100 million for a minority stake in Landa Digital Printing.

Both companies see the agreement not only as a financial investment, but also as a starting point for a long-term strategic partnership to bring digital printing solutions to the commercial, packaging and publishing markets.

With the completion and operational start of the expanded production capacities for BYK Additives in the U.S., the largest single investment of the ALTANA Group outside of Germany to date was finished according to plan in 2014. Further capital projects included the continual expansion of the largest additives production site in Wesel, and the expansion of capacities in Hartenstein for the manufacture of ECKART effect pigments for the construction industry.

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: 5,741

Comments: ALTANA AG enjoyed an a strong 2013, with sales growing 4% to €1.765 billion. The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) also grew by 4%, to €336 million, with a margin of 19%.

“With the acquisition of Rockwood’s rheology business, in particular, we reached another important milestone on our path for profitable growth,” said Dr. Matthias L. Wolfgruber, CEO of ALTANA AG. “We want to consistently continue on our growth course in the future.”

The ALTANA Group is made of four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation and ACTEGA Coatings & Sealants. In particular, ECKART Effect Pigments and ACTEGA Coatings & Sealants play key roles in terms of ink and graphic arts coatings.

ECKART is the leading metallic ink and pigment manufacturer, and also has a strong position in pearlescent pigments. In 2013, ECKART Effect Pigments’ sales were €335 million ($460 million), a slight decline of 2% from 2012.

ACTEGA Coatings & Sealants includes ACTEGA WIT, the former Water Ink Technologies, a North American water-based ink leader; ACTEGA Colorchemie GmbH, a European water-based flexo and gravure ink manufacturer; ACTEGA Terra GmbH and ACTEGA Kelstar, which manufacture UV and water-based coatings for graphic arts for Europe and North America, respectively. ACTEGA’s 2013 sales also declined slightly by 2% to €325 million ($447 million).

BYK Additives & Instruments is ALTANA’s largest division, specializing is waxes, additives and instruments. In 2013, sales rose by 12% to €691 million ($950 million), with slightly less than half of the increase due to the addition of Rockwood’s rheology activities.

In June 2014, ALTANA announced the grand opening of its expanded BYK USA Inc. facility in Wallingford, CT, more than doubling production capacity in the U.S. The company invested $50 million in the expansion project, which marks the largest single investment the Group has made outside of Germany.

“With this expanded facility, we will accelerate our growth in North America,” said Dr. Wolfgruber.

The ALTANA Group is also growing its business in China, investing more than €30 million in new facilities for ACTEGA, ELANTAS and BYK throughout China.

“With our investment initiative, we’re aiming to increase our presence in Asia further with emphasis on China and take advantage of the enormous market potential here,” Dr. Wolfgruber noted.

In a major move in the printing field, ALTANA and Landa Corporation concluded an equity financing agreement under which ALTANA will invest €100 million (approximately US$135 million) for a minority stake in Landa Digital Printing.

The proceeds will be used for completing the development of Nanography, Landa’s water-based digital printing process, including engineering and production ramp-up of Landa Nanographic Printing Presses and building of manufacturing plants for Landa NanoInk colorants.

“We are extremely excited to be partnering with an industry visionary like Benny Landa. We speak the same language in terms of innovation,” said Dr. Wolfgruber. “I am confident that we are investing in a game-changing technology that can enable the printing industry to thrive in the 21st century and help our customers position themselves well for the future.”

Overall, Dr. Wolfgruber has set ambitious goals for ALTANA. “We seek to double our business by 2020,” he concluded. “This growth should be reflected not only by sales growth to €3.5 billion, but also by new jobs. We have proven that we are able to achieve sustainable growth rates of this magnitude.”

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Number of Employees: 5,400

Comments: ALTANA AG enjoyed an excellent 2012, with sales growing 5% to €1.7 billion. The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) also grew by 5%, to €323 million, with a margin of 19%.

“In 2012, we proved once again that we are able to achieve profitable growth, even in a rapidly changing environment,” said Dr. Matthias L. Wolfgruber, CEO of ALTANA AG. “This was possible because we have implemented our growth strategy consistently and acted flexibly.“

The ALTANA Group is made of four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation and ACTEGA Coatings & Sealants. ECKART Effect Pigments and ACTEGA Coatings & Sealants play key roles in terms of ink and graphic arts coatings.

ECKART is the leading metallic ink and pigment manufacturer, and has a strong position in pearlescent pigments. In 2012, ECKART Effect Pigments’ sales were €341 million, a decline of 2% from 2011.

ACTEGA Coatings & Sealants’ sales increased 12% to €334 million, driven by the acquisition of the Colorchemie Group, a European water-based ink specialist, in mid-2011. In an important personnel move, Dr. Wolfgang Josten, formerly a member of the managing board of Epple Druckfarben AG, was named managing director of ACTEGA Colorchemie GmbH in January 2013.

ACTEGA also includes ACTEGA WIT, the former Water Ink Technologies, a North American water-based ink leader, as well as ACTEGA Terra GmbH and ACTEGA Kelstar, which manufacture UV and water-based coatings for graphic arts for Europe and North America, respectively.

In November 2012, ALTANA AG rotated the four division presidents. Dr. Roland Peter took over the management of ACTEGA Coatings & Sealants. Dr. Guido Forstbach moved to ELANTAS Electrical Insulation. Dr. Wolfgang Schütt leads ECKART Effect Pigments, and Dr. Christoph Schlünken took over the management of BYK.

“We are convinced that the four division presidents will continue their successful work in these new positions and will give fresh impetus to the business with their proven expertise and experience,” said Dr. Wolfgruber.

In December 2012, ALTANA acquired the business of ChemCor, a U.S.-based wax additive manufacturer. The business was integrated into BYK USA Inc., part of the ALTANA Additives & Instruments division.

In May 2012, ELANTAS Electrical Insulation acquired the casting resins business for electrical and electronic applications of the Marbo Group, which includes products for the encapsulation or coating of electronic components with insulation materials (compounds).

12. ALTANA AG

Abelstraße 43

46483 Wesel, Germany

Tel: +49 281 670-8

Fax: +49 281 670-10999

www.altana.com

E-mail: info@altana.com

Sales: $280 million in printing ink and graphic arts coatings sales (Ink World estimate); €1.535 billion overall

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Key Personnel: Dr. Matthias L. Wolfgruber, CEO; Martin Babilas, CFO. Dr. Roland Peter, president Division Additives & Instruments, chairman of the Management Board of BYK-Chemie GmbH; Dr. Christoph Schlünken, president Division Effect Pigments, chairman of the Management Board ECKART GmbH; Dr. Wolfgang Schütt, president Division Electrical Insulation, chairman of the Management Board ELANTAS GmbH; Dr. Guido Forstbach, president Division Coatings & Sealants, chairman of the Management Board ACTEGA GmbH.

Number of Employees: 5,313.

Comments: ALTANA AG had an excellent year in 2011, as its overall sales rose 5% to $1.62 billion, with most of the gains coming in the first half of the year. However, the group’s 2011 earnings decreased slightly by 2% to €308 million, due primarily to the higher costs of raw materials. Still, earnings before interest, taxes, depreciation and amortization (EBITDA) in 2011 was 19.1%, a very strong return.

The ALTANA Group consists of four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants. In terms of printing ink and graphic arts coatings,

ECKART Effect Pigments and ACTEGA Coatings & Sealants play key roles.

The leading metallic ink and pigment manufacturer as well as a leader in pearlescent pigments, ECKART Effect Pigments’ sales were €391 million, a decline of 3% in 2011. ECKART Effect Pigments acquired the Schererville, IN production facilities of Metalure high-quality PVD-Type aluminum pigments from Avery Dennison in October 2011.

ACTEGA Coatings & Sealants division’s sales increased 14% to €297 million, which company executives attributed primarily to ACTEGA’s acquisition of the Color Chemie Group as of July 1, 2011.

ACTEGA Coatings & Sealants’ portfolio of companies includes ACTEGA Colorchemie, a European water-based ink specialist, and ACTEGA WIT, the former Water Ink Technologies, a North American water-based ink leader. ACTEGA Terra GmbH and ACTEGA Kelstar manufacture UV and water-based coatings for graphic arts for Europe and North America, respectively.

In July 2011, ACTEGA Kelstar and ACTEGA WIT opened a new laboratory in Cinnaminson, NJ, which is designed to support the NAFTA region.

Dr. Matthias L. Wolfgruber, CEO of ALTANA AG, noted that the present overall economic situation remains one of uncertainty, although the company is well positioned for both the short- and long-term.

“With our clear, strategic focus on innovative and technically demanding growth markets, we are optimally positioned in the current environment,“ said Dr. Wolfgruber. “Due to the flexibility we have achieved over the past several years, we are confident that we will be able to act prudently and successfully even in a continuing volatile market environment.”

11. ALTANA AG

Abelstraße 43

46483 Wesel, Germany

Tel: +49 281 670-8

Fax: +49 281 670-10999

www.altana.com

E-mail: info@altana.com

Sales:$225 million in ink and coatings sales (Ink World estimate); $2.03 billion (€1.535 billion) (consolidated).

Major Products: Metallic inks and pigments; UV and water-based inks and coatings.

Key Personnel: Dr. Matthias L. Wolfgruber, CEO; Martin Babilas, CFO.

Number of Employees: 4,937.

Comments: Headquartered in Wesel, Germany, ALTANA AG has built an impressive array of industry-leading companies operating within four divisions under its corporate umbrella. These companies include BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation and ACTEGA Coatings & Sealants.

In 2010, ALTANA AG posted sales of more than €1.535 billion, a huge gain of 30% over 2009.

On the printing ink and coatings side, ALTANA AG has acquired numerous niche ink companies in recent year, none more prominent than ECKART, the leading metallic ink and pigment manufacturer. Sales of ECKART Effect Pigments rose from €282.3 million to €356.6 million in 2010, an increase of 26%.

ACTEGA Coatings & Sealants is home to quite a few ink and coatings companies in its Business Line Graphic Arts, including ACTEGA WIT, the former Water Ink Technologies, a leader in water-based inks for the narrow web market in the U.S., which itself was merged with ACTEGA Radcure in 20911. ACTEGA Terra GmbH and ACTEGA Kelstar produce UV and water-based coatings for graphic arts for Europe and North America, respectively. Sales for ACTEGA Coatings & Sealants grew by 26% from €206.8 million to €260.2 million in 2010.

In May 2011, ALTANA AG signed an agreement to acquire Color Chemie, Büdingen, Hesse, Germany. Color Chemie specializes in water-based inks, and had sales of €46 million in 2010. Color Chemie has plants in Germany, Austria, France and Poland. Once the acquisition is approved by authorities, Color Chemie will be integrated into the ALTANA division ACTEGA Coatings & Sealants.

“Like ALTANA, Color Chemie focuses on products and services in technologically demanding niche markets and therefore fits excellently into our portfolio,” said Dr. Matthias L. Wolfgruber, CEO of ALTANA, at the time of the announcement. “We want to continue our profitable growth. Besides our operating business, targeted acquisitions will make a decisive contribution to this growth course.”

“The acquisition of Color Chemie will further strengthen our market position in the area of specialty printing inks for the packaging industry,” added Dr. Guido Forstbach, president Division ACTEGA. “Color Chemie’s range of products therefore optimally complements our existing activities in the area of packaging printing. At the same time, due to the division’s global presence, ACTEGA opens up further growth opportunities for the products of Color Chemie.”