Nabaltec AG / Key word(s): 9 Month figures
Nabaltec AG expects growth to slow in 2019 based on preliminary third-quarter revenue data
Schwandorf, 17 October 2019 - Nabaltec AG posted consolidated revenues of EUR 43.9 million in the third quarter of 2019, according to preliminary data, for a modest gain of just 0.9% over the same quarter of last year. Preliminary revenues in the "Functional Fillers" product segment amounted to EUR 29.9 million in the third quarter of 2019, up 6.8% from the same period of last year. Revenues in the "Specialty Alumina" product segment fell sharply in the third quarter according to preliminary data, down 10.3% to EUR 14.0 million from EUR 15.6 million in the same period of last year. Preliminary operating profit (EBIT) amounted to EUR 4.7 million in the third quarter, up from EUR 4.3 million in the same period of last year. The preliminary EBIT margin (EBIT as a percentage of total performance) was 10.9%.
In addition to falling revenues in the "Specialty Alumina" product segment, which were attributable to market conditions, results in the third quarter of 2019 were further weighed down by low output in the US subsidiary Nashtec. The company does not expect the situation to improve in the fourth quarter of 2019. Revenues in the boehmite product range are continuing to grow. Boehmite revenues were up 63.2% in the third quarter of 2019 from the same quarter of last year, according to preliminary data.
In the first nine months of the year, preliminary consolidated revenues amounted to EUR 141.3 million, up from EUR 135.3 million in the same period of last year. Preliminary operating profit (EBIT) in the first nine months of 2019 was EUR 17.1 million and the EBIT margin (EBIT as a percentage of total performance) was 12.1%.
Based on revenue performance in the third quarter of 2019, the previous 2019 revenue forecast, calling for revenues in a range from EUR 190 million to EUR 195 million, has been adjusted so that revenues are now expected to fall in a range from EUR 181 million to EUR 184 million. The company posted revenues of EUR 176.7 million in 2018. The earnings forecast for 2019 as a whole has been confirmed, with EBIT margin expected to range from 10.0% to 12.0%. The EBIT margin in 2018 was 10.4%.
Information and Explanation of the Issuer to this News:
Note: Nabaltec AG's quarterly report for the third quarter of 2019 will be available for download as planned from the Investor Relations section of www.nabaltec.de as of 21 November 2019.
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|End of Announcement||DGAP News Service|