24.11.2015
Nabaltec AG DE000A0KPPR7
DGAP-News: Nabaltec AG's revenues and earnings up from the year before in the first nine months of 2015
DGAP-News: Nabaltec AG / Key word(s): Quarter Results
Nabaltec AG's revenues and earnings up from the year before in the
first nine months of 2015
24.11.2015 / 10:00
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Nabaltec AG's revenues and earnings up from the year before in the first
nine months of 2015
- Revenues up 5.3% to EUR 115.4 million, EBIT up 12.5% to EUR 11.7
million;
- Earnings per share up 13.6%, to EUR 0.67;
- Forecast for 2015 as a whole confirmed.
Schwandorf, 24 November 2015 - Nabaltec AG posted EUR 115.4 million in
revenues in the first nine months of 2015, up 5.3% from the year before,
when it posted a value of EUR 109.6 million, and reported a strong gain in
operating profit (EBIT) as well, which was up 12.5% to EUR 11.7 million. In
general, the company was able to maintain its strong revenue growth in the
third quarter, exceeding the comparison value from the year before. Given
the fact that the summer months are traditionally somewhat slower, results
were not quite as high as the very strong values posted in the first two
quarters of 2015.
Consolidated revenues were up 3.0% in the third quarter of 2015, from EUR
36.5 million in the same quarter of last year to EUR 37.6 million. Typical
seasonality had an impact, causing revenues to fall by 3.6% relative to the
second quarter of 2015, when revenues were EUR 39.0 million.
According to Gerhard Witzany, Member of the Board of Nabaltec AG: "We can
be satisfied with these results, which are further demonstration of our
stable performance and strong growth. The general market situation was
stable: the pace of growth in the business division 'Functional Fillers'
was slowed somewhat because results in August fell short of expectations,
but the business division 'Technical Ceramics' posted disproportionately
high revenue growth. And we continue to see potential in all of our target
markets for the future."
Revenues in the business division "Functional Fillers" amounted to EUR 24.8
million in the third quarter of 2015, in line with the result for the same
quarter of last year, EUR 24.9 million. Revenues were down 7.5% from last
quarter's very strong result, EUR 26.8 million, a decrease which was
attributable above all to the fact that August sales have traditionally
been somewhat weaker. Revenue growth in the business division "Technical
Ceramics" was in line with estimates and increased again. Specifically,
revenues were up 9.4%, from EUR 11.7 million in the third quarter of 2014
to EUR 12.8 million in the reporting quarter, and revenues were up 4.9%
relative to the revenues posted in the second quarter of 2015, EUR 12.2
million.
Consolidated EBIT amounted to EUR 11.7 million in the reporting period,
compared to EUR 10.4 million in the first nine months of 2014. The EBIT
margin (EBIT as a percentage of total performance) amounted to 10.2% in the
first nine months of 2015, up from 9.6% in the same period of last year.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
amounted to EUR 19.2 million in the first three quarters, up 9.1% from the
value of EUR 17.6 million in the same period of last year. Earnings per
share were up by 13.6%, from EUR 0.59 in the first nine months of 2014 to
EUR 0.67 in the reporting period.
Cash flow from operating activities increased to EUR 22.1 million in the
first nine months of 2015, from EUR 19.2 million in the same period of last
year. In addition to strong earnings growth, a reduction in inventories and
a significantly lower increase in trade receivables and other assets
compared to the same period of last year contributed to this development.
Spending on investments increased relative to the same period of last year,
from EUR 8.4 million to EUR 10.2 million. Investments were made primarily
in technical equipment and machinery to increase capacity and for process
optimization for fine precipitated hydroxides, as well as for general
replacement investments.
Cash flow from financing activities amounted to EUR 11.0 million in the
first nine months of the year, compared to EUR -10.1 million in the same
period of last year. This change was due above all to the partial repayment
of the 2013 loan against borrower's note in the amount of EUR 43.5 million
and the receipt of a new loan against borrower's note in the second quarter
of 2015, in the amount of EUR 70.0 million. Aside from an extraordinary
amortization of a bank loan in the amount of EUR 5.0 million, amortization
payments were in line with long-term estimates.
According to Johannes Heckmann, Member of the Board of Nabaltec AG: "In key
performance indicators such as consolidated earnings or operating cash
flow, our results in the first nine months of this year have already
equaled or exceeded the values posted over a 12-month period in 2014. But
we will not rest on our laurels and will continue to maintain the pace of
innovation and investments in order to build up our market position and
extend our advantage even more."
Nabaltec has confirmed its previous forecast for the current year, which
calls for revenue growth in the mid-single digits. Nabaltec raised its 2015
EBIT forecast in the second quarter of 2015. Before, the company had
projected an EBIT margin for 2015 in line with last year's margin, in the
amount of 8.9%. As things stand, Nabaltec expects an EBIT margin of around
10% for 2015.
Note: Nabaltec AG's interim report for the third quarter of 2015 will be
available for download in the Investor Relations section of www.nabaltec.de
as of 24 November 2015.
About Nabaltec AG:
Nabaltec AG, with registered office in Schwandorf, a chemicals business
which has received multiple awards for innovativeness, manufactures,
develops and distributes highly specialized products based on aluminum
hydroxide ("ATH") and aluminum oxide, as well as other raw materials, on an
industrial scale through its "Functional Fillers" and "Technical Ceramics"
divisions. The company's product range includes halogen-free flame
retardant fillers and eco-friendly additives for the plastics industry.
Flame retardant fillers are used e.g. in cables in tunnels, airports,
high-rise buildings and electronic devices, while additives replace
stabilizers containing heavy metals in PVC processing. Nabaltec also
produces base materials for use in technical ceramics, the refractory
industry and catalysis. Unlike halogenated flame retardant fillers, the
products manufactured by the company's "Functional Fillers" division
contain no hazardous substances and do not require separate disposal.
Rather, the company's flame retardant fillers actually decrease the
development of fumes hazardous to human health and the environment in the
event of fire. Nabaltec maintains production sites in Germany and the US
and plans to continue to consolidate its market position by expanding
capacity, further optimizing processes and quality and making strategic
extensions to its product range. On the strength of its specialty products,
the company strives to attain the market leadership in each segment.
Contact:
Marina Fuchs
Nabaltec AG
Phone: +49 9431 53-205
Fax: +49 9431 53-203
E-mail: [email protected]
Frank Ostermair
Better Orange IR & HV AG
Phone: +49 89 8896906-14
Fax: +49 89 8896906-66
E-mail: [email protected]
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Language: English
Company: Nabaltec AG
Alustraße 50-52
92421 Schwandorf
Germany
Phone: +49 9431 53-0
Fax: +49 9431 53-260
E-mail: info @nabaltec.de
Internet: www.nabaltec.de
ISIN: DE000A0KPPR7, DE000A1EWL99
WKN: A0KPPR, A1EWL9
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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