Nabaltec AG / Key word(s): Half Year Results
Nabaltec AG duplicates last year's strong revenues in the first half of 2013
- Revenues up slightly, by 0.7%, to EUR 68.8 million
- Cost-cutting program shows continued success
- Forecast for 2013 confirmed
Schwandorf, 27 August 2013 - Nabaltec AG's strong operational performance continued in the second quarter of 2013, allowing the company to equal last year's levels in the first six months of 2013 for both revenues and earnings.
Consolidated revenues were EUR 34.0 million in the second quarter of 2013, nearly as high as last year's figure of EUR 34.2 million (down 0.6%). Revenues were down by a modest EUR 0.8 million from the previous quarter (EUR 34.8 million) due to a slight decrease in prices in the reporting quarter. Revenues in the first six months of 2013 amounted to EUR 68.8 million, for a slight 0.7% gain over the first half of 2012 (EUR 68.3 million). Revenues were up sharply from the second half of 2012, by 13.0%.
Quarterly revenues in the business division 'Functional Fillers' fell from EUR 23.8 million to EUR 22.8 million, down 4.2% from the second quarter of 2012 and down 3.8% from the previous quarter. Boehmite and CAHC above all, both products with high added value, lagged behind expectations in the reporting period due to the current weakness in the electronics industry, while revenues for fine precipitated hydroxides remained stable at a high level. Revenues in the business division 'Technical Ceramics' climbed from EUR 10.3 million in the second quarter of 2012 to EUR 11.2 million in the reporting period (up 8.7%). Revenues in this business division were up 0.9% from the previous quarter. This revenue growth was driven above all by higher sales of reactive aluminum oxides.
'We remain confident for the rest of 2013 and expect stable revenue growth in the second half of the year, based on various early indicators,' said Johannes Heckmann, Member of the Board of Nabaltec AG. Overall, the company has confirmed its previous forecast for the current year, which called for revenue growth in the mid-single digits and an EBIT margin in line with last year's margin.
Note: Nabaltec AG's interim report for the second Quarter of 2013 will be available for download in the Investor Relations section of www.nabaltec.de as of 27 August 2013.
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