Nabaltec AG / Key word(s): Quarter Results
Nabaltec AG posts record-high revenues in the first quarter of 2014
- Revenues up 5.7%, to EUR 36.8 million;
- Earnings up from last year; EBIT climbs to EUR 3.0 million.
Schwandorf, 27 May 2014 - Nabaltec AG published its quarterly report for the first quarter of 2014 today, and confirmed its preliminary data. The company's strong performance last year carried over into the first quarter of 2014, as revenues climbed to a record high and earnings were able to match their high comparison values from last year. Nabaltec's consolidated revenues climbed to EUR 36.8 million in the first quarter of 2014, up 5.7% from the value posted in the same quarter of last year, EUR 34.8 million. Revenues were up sharply over the fourth quarter of 2013, by 21.5%.
According to Johannes Heckmann, Member of the Board of Nabaltec AG: "We started the Financial Year 2014 with a very good first quarter, as our growth has continued without interruption. We were especially pleased to see growth in the relatively new boehmite and CAHC product segments. In the case of boehmite, the effects resulting from its consistently expanding applications are becoming evident for the first time. We see a similar trend for CAHC, thanks to the expansion of the range in applications to soft plastics."
The "Functional Fillers" business division made a particularly large contribution to this revenue growth, and the "Technical Ceramics" business division also performed well. Revenues in the business division "Functional Fillers" were up 6.3% from the same quarter of last year, to EUR 25.2 million. This growth continues to be based on the strong performance of the fine precipitated hydroxides product segment (eco-friendly flame retardant fillers, e.g. for the cable industry), but boehmite and CAHC, both high added-value products, also posted gains over the same period of last year. Revenues in the "Technical Ceramics" business division were up 4.5%, to EUR 11.6 million. This revenue growth was driven above all by the growth in sales volume for reactive aluminum oxides (e.g. for the refractory industry).
Consolidated EBIT amounted to EUR 3.0 million in the reporting quarter, up from EUR 2.3 million in the same period of last year. EBIT was twice as high as last quarter. The EBIT margin (EBIT as a percentage
Cash flow from operating activities improved from EUR 7.0 million in the same period of last year to EUR 7.8 million in the first quarter of 2014. Spending on investments rose from EUR 1.4 million in the same quarter of last year to EUR 3.8 million. Cash flow from financing activities amounted to EUR -3.0 million, compared to EUR -2.9 million in the same period of last year.
The company confirmed its prior forecast for the current financial year, which calls for revenue growth in the mid-single digits and an EBIT margin in line with last year's margin.
According to Gerhard Witzany, Member of the Board of Nabaltec AG: "The decisive point for us is that the basic sentiment among our customers and in the markets continues to be positive. In this environment, we will continue to position ourselves in the market through quality, solutions which are customized to meet the needs of each customer, high reliability and on-time delivery."
Note: Nabaltec AG's interim report for the first quarter of 2014 will be available for download in the Investor Relations section of www.nabaltec.de as of 27 May 2014.
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