DGAP-News: Nabaltec AG / Key word(s): Final Results
Nabaltec AG confirms 2017 preliminary data and posts record-high revenues in the first quarter of 2018
Schwandorf, 30 April 2018 - Nabaltec AG published its consolidated financial statements today and confirmed its preliminary data for Financial Year 2017. Its revenue growth has continued, with consolidated revenues of EUR 168.6 million, up from EUR 159.2 million in the year before (up 5.9%). EBIT amounted to EUR 18.3 million, up from EUR 12.2 million in the year before, for a gain of 50.0%.
"In a challenging year 2017, we were able to demonstrate what we are capable of. We were able to set record highs in both revenues and earnings, with an EBIT margin of 10.8%, and all this despite losing the revenues from our US subsidiary Nashtec, which contributed around EUR 13 million in revenues in 2016," said Johannes Heckmann, CEO of Nabaltec AG. "And we were able to stay on track in the first quarter of 2018 as well. As a result, the Management and Supervisory Boards intend to propose a dividend of EUR 0.18 per share to our shareholders at the 2018 Annual Meeting."
According to preliminary data, Nabaltec's revenues in the first quarter of 2018 were EUR 45.2 million, up 18.6% from the previous quarter and up 3.7% from the same quarter of last year. Revenues in the "Functional Fillers" product segment came to EUR 29.3 million, up from EUR 29.0 million in the year before (up 1.0%), and revenues in the "Specialty Alumina" product segment were up 8.9%, to EUR 15.9 million (prior-year quarter: EUR 14.6 million). An operating profit (EBIT) of EUR 4.3 million was posted in the reporting period according to preliminary data, and an EBIT margin (EBIT as a percentage of total performance) of 10.0%. EBITDA amounted to EUR 7.3 million in the first quarter of 2018, according to preliminary data.
On the operational level as well, 2018 is off to a good start. All shares in Nashtec LLC were acquired in 2017 and production is expected to resume in the second quarter of 2018. Following a start-up phase, Nashtec will have a total capacity of 30,000 tons a year. There are also plans to acquire two properties in the US through a US subsidiary which has yet to be formed. Under the current plan, the first stage will be to construct a production facility for refined hydroxides with a capacity of around 30,000 tons per year by mid-2019. A facility for the production of boehmite will follow in a second stage. Nabaltec currently expects the project to have a positive impact on consolidated earnings one year after the new US plant goes online.
Assuming stable economic performance, Nabaltec expects revenue growth in the mid-single digits in 2018. The company expects to post an EBIT margin in the high single digits. The start-up phase for the US subsidiary Nashtec will weigh down earnings in 2018, which will be a year of transition.
About Nabaltec AG:
|Phone:||+49 9431 53-0|
|Fax:||+49 9431 53-260|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|