DGAP-News: Nabaltec AG
/ Key word(s): Quarter Results
Nabaltec AG starts off 2020 with a modest first quarter
Schwandorf, 28 May 2020 -Nabaltec AG published its quarterly report for the first quarter of 2020 today in which it confirmed the published preliminary data. The company earned EUR 45.4 million in revenues in the first quarter of 2020, compared to EUR 48.5 million in the same period of last year. Operating profit (EBIT) amounted to EUR 2.5 million in the first three months of the year, compared to EUR 5.8 million in the first quarter of 2019, for an EBIT margin (EBIT as a percentage of total performance) of 5.9%. EBITDA came to EUR 6.1 million (Q1/2019: EUR 9.0 million).
Revenues in the "Functional Fillers" product segment amounted to EUR 31.7 million, compared to EUR 32.5 million in the same quarter of last year. Revenues in the "Specialty Alumina" product segment came to EUR 13.7 million, compared to EUR 15.9 million in the same period of last year.
The boehmite product range continues to perform well, with e-mobility as the key driver, posting growth of more than 40% over the first quarter of last year. This strong growth is all the more remarkable considering the fact that sales were generated almost entirely in Asia, and that sales performance was very difficult to predict following the shutdown in China and other key Asian countries over the course of the first quarter. The mid- and long-term outlook for e-mobility, and by extension for lithium ion batteries, is still excellent.
"We believe that Nabaltec is well-positioned in the long run. We are already well-prepared for the future thanks to the expansion of our US operations and our investments in the Schwandorf site," Nabaltec AG's CEO continued. "Given the current environment, we are unable to issue a reliable forecast for the year as a whole. The impact of the COVID-19 pandemic will be a heavy drag in the second quarter and we are expecting revenues to be down significantly in both product segments from the previous quarter as well as from the same quarter of last year."
Nabaltec AG withdrew the forecast provided in its 2020 Annual Report on 30 April 2020 and will not be issuing a new forecast for the time being. The company believes that is well-equipped in terms of liquidity and, in April 2020, was able to repay a loan against borrower's note with a volume of EUR 31 million, with one third of the funds coming from cash flow and two thirds from a new bank loan with improved terms.
Note: Nabaltec AG's quarterly report for the first quarter of 2020 will be available for download as of 28 May 2020 in the Investor Relations section of www.nabaltec.de/en.
|Phone:||+49 9431 53-0|
|Fax:||+49 9431 53-260|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1057295|
|End of News||DGAP News Service|