Nabaltec AG / Key word(s): Preliminary Results
Nabaltec AG's 2013 revenues and earnings up from the year before according to preliminary data
- Revenues up 2.9%, to EUR 132.9 million;
- EBIT up 5.0%, to EUR 10.5 million;
- strong start to the year 2014.
Schwandorf, 28 February 2014 - Nabaltec AG's results in Financial Year 2013 were up from the year before, according to preliminary data. Contrary to what has been the case in previous years, when first-half results differed sharply from second-half results, the course of business was largely constant throughout the year. Revenues were up from the year before in both the first and second half of the year. Overall, revenues in 2013 were up 2.9%, to EUR 132.9 million, and the operating result (EBIT) increased by 5.0%, to EUR 10.5 million. Earnings per share were up 26.9%, to EUR 0.33, while shareholders' equity was up 6.1%, to EUR 50.4 million. The EBIT margin (EBIT as a percentage of total performance) was 7.8% in 2013 according to preliminary data. Johannes Heckmann, member of the Board of Nabaltec AG: "Our results in the year 2013 were satisfactory. We were able to meet the revenue and earnings forecast we released a year ago, and results in eleven of the twelve months met or exceeded our expectations. Only the December results were somewhat disappointing, preventing us from finishing the year with even better results."
Both business divisions of the company delivered steady performance and revenue growth in 2013. The business division "Functional Fillers" had revenues of EUR 90.6 million in Financial Year 2013, up 0.8% from the year before (2012: EUR 89.9 million). This stable performance was primarily a result of higher sales volume. US subsidiary Nashtec was able to further strengthen its position in the market, providing a lasting boost to the Group's earnings. Revenues in the business division "Technical Ceramics" were EUR 42.3 million in 2013, due above all to higher sales volume and the development of products with high added value, up from EUR 39.3 million the year before, for a gain of 7.6%.
Total EBITDA for both business divisions of the company amounted to EUR 19.8 million, up from EUR 18.8 million in the year 2012 (up 5.3%). Earnings growth in the business division "Functional Fillers", measured in terms of EBITDA, fell by 8.8% in the reporting year, from EUR 14.7 million to EUR 13.4 million. The key factor in this development was the slight decrease in prices relative to the year before. In the business division "Technical Ceramics", EBITDA increased by 56.1% over the year before due to higher revenues, from EUR 4.1 million to EUR 6.4 million.
The year 2014 is off to a strong start. Customers deliberately cut inventories in December 2013, but sales were up significantly in January and February 2014. Gerhard Witzany, member of the Board of Nabaltec AG: "We are optimistic for 2014. Our products are meeting with fully intact and stable demand in all markets. As a result, we expect to stay on track for growth in 2014. As the economy continues to stabilize, we expect revenue growth in the mid-single digits and an EBIT margin in line with last year's margin."
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