DGAP-News: Nabaltec AG / Key word(s): Quarter Results
Nabaltec AG once again posts record-high revenues in the first quarter of 2016
Schwandorf, 31 May 2016 - Nabaltec AG published its interim report for the first quarter of 2016 today and confirmed its preliminary estimates. The company set a new record for revenues with EUR 41.2 million in the first quarter of 2016, up 6.2% from the year before. Revenues were up 14.8% from the fourth quarter of 2015.
Gerhard Witzany, Member of the Board of Nabaltec AG: "In the first Quarter of 2016, we were able to continue our long-term growth trend despite a somewhat volatile and in some cases heterogeneous economic environment, and our revenues improved in nearly all regions. Growth in the first quarter was especially strong in the European market outside of Germany. But all across our company's divisions and product segments, the results once again made it clear that we continue to have considerable potential and that we are on the right track to exploit this potential for our earnings-oriented growth strategy."
Revenues in the business division "Functional Fillers" climbed from EUR 26.9 million in the first quarter of last year to EUR 28.1 million, for an increase of 4.5%. This growth continues to be based on the very strong performance of the fine precipitated hydroxides product segment (eco-friendly flame retardant fillers, e.g. for the cable & wire industry). The business division "Technical Ceramics" reported revenues of EUR 13.1 million, up 10.1% from the same quarter of last year, when the division posted EUR 11.9 million in revenues.
Consolidated EBIT in the reporting quarter amounted to EUR 3.5 million, down from EUR 4.8 million in the same period of last year. Compared to the same period of last year, EBIT in the first quarter of 2016 were weighed down by the effects of changes in the EUR/USD exchange rate. EBIT improved by 25.0% over the fourth quarter of 2015. The EBIT margin (EBIT as a percentage of total performance) was 8.5% after the first three months of 2016. Earnings before interest, taxes, depreciation and amortization (EBITDA) came to EUR 6.2 million in the first quarter of 2016, down 15.1% from the figure posted in the year before, which was inflated due to positive currency translation effects. Earnings per share were EUR 0.22 after the first three months of 2016, down from EUR 0.26 in the first three months of 2015.
Cash flow from operating activity was down, due e.g. to the impact of the decrease in earnings and the change in trade payables from the very high figure posted last year, EUR 15.8 million, down to EUR 9.8 million in the first three months of 2016. Spending on investments increased from EUR 2.0 million in the same quarter of last year to EUR 7.3 million. Cash flow from financing activity came to EUR -2.8 million, compared to EUR -8.0 million in the same period of last year.
The company expects to post moderate growth for 2016 as a whole. A quantitative revenue and earnings forecast for 2016 is not yet possible given the difficulty of predicting future developments for Sherwin Alumina LLC in connection with its ongoing Chapter 11 bankruptcy procedure and its possible impact on the supply chain of Nabaltec's US subsidiary Nashtec.
Johannes Heckmann, Member of the Board of Nabaltec AG, stated as follows: "In the first quarter of 2016, it was proven once again that our strategy of supplying high-quality products to specialized segments has the potential to allow us to succeed despite difficult conditions in individual sectors. We will continue to work to improve our market position."
Note: Nabaltec AG's interim report for the first quarter of 2016 will be available for download in the Investor Relations section of www.nabaltec.de as of 31 May 2016.
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|