DGAP-News: Nabaltec AG / Key word(s): Preliminary Results/Change of Personnel
Nabaltec AG posts further growth in 2015 according to preliminary data and announces an upcoming change in the Management Board
- Revenues up 5.6% to EUR 151.3 million, EBIT up 14.2% to EUR 14.5 million;
- Earnings per share up 21.7%, to EUR 0.84;
- Planned Management Board change and appointment of new members on 1 January 2017.
Schwandorf, 25 February 2016 - According to preliminary data, Nabaltec AG's very strong performance in the year before continued in Financial Year 2015 as well, with key financial performance indicators showing gains over the year before. Revenues were stable at a high level throughout the year, posting gains over the year before in all four quarters. Total revenues in 2015 were up 5.6%, to EUR 151.3 million, and operating profit (EBIT) was up 14.2%, to EUR 14.5 million. Earnings per share were up 21.7%, to EUR 0.84 per share, and shareholders' equity increased by 10.7%, to EUR 58.1 million. The EBIT margin in Financial Year 2015 (EBIT as a percentage of total performance) was 9.5% based on preliminary data. These results are in line with Nabaltec AG's announced revenue and earnings forecasts.
Gerhard Witzany, Member of the Board of Nabaltec AG, stated as follows: "We once again posted very strong growth last year with largely stable market conditions, and we met our forecasts for revenues and earnings. This is further evidence that our market position is extremely solid and that we're on the right track with our strategy of positioning ourselves in the market based on quality, delivery reliability and solutions which are customized to meet the individual needs of our customers. Still, we will not rest on our laurels; rather, we will continue to exhaust the potential in our target markets in the future."
Both business divisions contributed to the strong revenue growth in 2015. The business division "Functional Fillers" posted revenues of EUR 102.3 million in Financial Year 2015, up 3.4% from the year before (2014: EUR 98.9 million). This growth was due above all to the increased focus on product segments with high added value, such as fine precipitated hydroxides (eco-friendly flame retardant fillers, e.g. for the cable & wire industry). The business division "Technical Ceramics" posted revenues of EUR 49.1 million in 2015, up from EUR 44.5 million the year before, for a gain of 10.3%, due above all to an increase in sales volume and a shift in the product mix towards high-margin product segments. The Group's export ratio climbed to 72.3%, up from 71.6% in 2014.
EBITDA over both business divisions amounted to EUR 24.7 million, up from EUR 22.4 million the year before (up 10.3%). EBITDA in the business division "Functional Fillers" improved slightly, from EUR 17.4 million to EUR 17.8 million in the reporting year (up 2.3%). EBITDA in the business division "Technical Ceramics" was up 40.8% compared to the previous year, from EUR 4.9 million to EUR 6.9 million, due to the optimization in the product mix.
The company is off to a good start in 2016. According to Johannes Heckmann, Member of the Board of Nabaltec AG, "2016 will be a challenging year for us. Disruptions in the operations of our US subsidiary Nashtec LLC cannot be ruled out at present as a result of the fact that the raw materials supplier Sherwin Alumina LLC has filed for bankruptcy under Chapter 11 of the US Bankruptcy Code. With our new Tokyo-based subsidiary Nabaltec Asia Pacific K.K., we are beginning a new chapter to strengthen our sales activities in Asia. A significant change will result from the planed composition of the Management Board as of 2017."
Gerhard Witzany plans to resign from the Management Board at the end of 2016 due to age reasons. As a major shareholder, the Witzany family will continue to have close ties with the company. The Supervisory Board intends to extend the term of Management Board Member Johannes Heckmann by five years and appoint him Chairman of the Management Board (CEO) as of 1 January 2017. To succeed Gerhard Witzany, the Supervisory Board intends to appoint two longstanding employees to the Management Board who currently hold positions in the upper management: Günther Spitzer, currently Director Controlling/Finance, will serve as CFO, and Dr. Michael Klimes, presently Director Division Functional Fillers, will serve as COO. This will ensure continuity in Nabaltec AG's further development.
About Nabaltec AG:
|Phone:||+49 9431 53-0|
|Fax:||+49 9431 53-260|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt|
|End of News||DGAP News Service|