DGAP-News: Nabaltec AG's revenues slightly higher than last year's record high and earnings forecast confirmed, according to preliminary figures
(firmenpresse) - DGAP-News: Nabaltec AG / Key word(s): Preliminary Results
Nabaltec AG's revenues slightly higher than last year's record high
and earnings forecast confirmed, according to preliminary figures
01.03.2013 / 10:00
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Nabaltec AG's revenues slightly higher than last year's record high and
earnings forecast confirmed, according to preliminary figures
- Revenues up slightly, to EUR 129.2 million;
- weaker economy slows growth in the second half of the year;
- strong start in 2013.
Schwandorf, 1 March 2013 - According to preliminary data, Nabaltec AG's
results in 2012 were just as strong as last year's. Despite the fact that
the economic environment became increasingly difficult as the year went on,
the company's revenues were slightly higher than last year's record high,
as revenues climbed to EUR 129.2 million from EUR 129.0 million in 2011.
The operating result (EBIT) fell by 18.7%, to EUR 10.0 million, earnings
per share fell to EUR 0.26 and shareholders' equity was up 1.3%, to EUR
47.5 million. Gerhard Witzany, member of the Board of Nabaltec AG, stated
as follows: 'As was the case the year before, we had a very strong first
half in 2012, but the worsening economic environment in the third and
especially the fourth quarter really slowed us down. While results were not
entirely consistent with our expectations, we were able to meet our most
recent revenue and earnings forecasts.'
In general, there was a shift in revenues in 2012 away from the business
division 'Technical Ceramics' and towards the business division 'Functional
Fillers'. Revenues in the business division 'Functional Fillers' were a
record-high EUR 89.9 million in 2012, up 6.0% from the year before (2011:
EUR 84.8 million). This improvement is attributable to a higher sales
volume and a greater focus on high value-added product segments like
high-quality fine precipitated hydroxides, which are used e.g. as
eco-friendly flame retardants in plastics and cables. The company's US
subsidiary, Nashtec, was able to strengthen its position in the market.
On the other hand, revenues in the business division 'Technical Ceramics',
which serves e.g. the refractory industry and, indirectly, the steel
industry, fell by 11.1% in 2012, from EUR 44.2 million to EUR 39.3 million.
The export ratio increased to 69.0%, from 68.4% in 2011.
Like the revenue trend, the earnings trend was also different in the
company's two business divisions. In the business division 'Functional
Fillers', earnings before interest, taxes, depreciation and amortization
(EBITDA) improved by 9.7% in the reporting year, from EUR 13.4 million to
EUR 14.7 million. However, this earnings growth was unable to offset the
loss in the business division 'Technical Ceramics', where EBITDA fell by
41.4%, to EUR 4.1 million, due to falling revenues. Overall, EBITDA fell by
7.8%, from EUR 20.4 million to EUR 18.8 million.
Operating cash flow increased by 58.1% over the year before, from EUR 13.6
million to EUR 21.5 million. Accordingly, Nabaltec's operating capacity is
constantly being demonstrated, and it will continue to reduce its debt in
2013 as well.
The company is off to a strong start in 2013. The clear sense of caution
among the company's customers, which was especially tangible in the fourth
quarter, along with a deliberate reduction in inventories, subsided in
January, although customers are continuing to rely primarily on short-term
orders. Johannes Heckmann, member of the Board of Nabaltec AG: 'In the
first weeks of 2013, it was clearly demonstrated once again that the
reticence among our customers which prevailed at the end of 2012 especially
was just a temporary phenomenon. We see intact markets and market drivers
and we therefore plan focus more on growth in 2013. Provided the economy
does not get any worse, we expect revenue growth in the mid-single digits
and an EBIT margin in line with last year's margin.'
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:
Heidi Wiendl
Nabaltec AG
Phone: +49 9431 53-202
Fax: +49 9431 53-260
E-mail: InvestorRelations(at)nabaltec.de
Frank Ostermair
Better Orange IR&HV AG
Phone: +49 89 8896906-14
Fax: +49 89 8896906-66
E-mail: frank.ostermair(at)better-orange.de
End of Corporate News
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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 (at)nabaltec.de
Internet: www.nabaltec.de
ISIN: DE000A0KPPR7, DE000A1EWL99
WKN: A0KPPR, A1EWL9
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart;
Frankfurt in Open Market (Entry Standard)
End of News DGAP News-Service
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Datum: 01.03.2013 - 10:00 Uhr
Sprache: Deutsch
News-ID 234824
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