The Balta Group announced a revenue increase of 15.1% to €333.9 million ($400.83 million) for the first half of 2017. Organic growth increased 6.1% and was driven by business (+12.9% organic growth) and commercial business (+7.8% organic growth). The acquisition of Bentley (completed at the end of Q1 2017) contributed to revenues as of April 2017, and accounted for an additional 10.1% growth.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 11.1% to €46.5 million ($55.77 million) with an adjusted EBITDA margin of 13.9% and an underlying organic growth of 9.8%. The increase in raw material purchase prices observed during the first half did not have a significant impact on financial performance. Organic and mergers and acquisitions growth have been partially offset by the adverse impact of the depreciation of the British pound.