DGAP-News: Nabaltec AG
/ Key word(s): Quarter Results
Nabaltec AG starts off 2021 with very strong revenues and earnings
Schwandorf, 27 May 2021 -Nabaltec AG published its interim report for the first quarter of 2021 today, in which it confirmed its published preliminary data. Nabaltec AG earned EUR 46.0 million in revenues in the first quarter, compared to EUR 45.4 million in the same period of last year (up 1.3%), as the sales situation improved. Operating profit (EBIT) was EUR 3.9 million in the first three months of 2021, up from EUR 2.5 million in the first quarter of 2020. This result included a negative non-recurring effect in the amount of EUR 1.3 million, which was attributable to the exorbitant increase in energy prices due to the extraordinary winter storm in Texas, USA in mid-February 2021. EBITDA came to EUR 7.1 million in the first quarter of this year, compared to EUR 6.1 million in the same period of last year.
"We posted strong results in the first quarter and our EBIT margin, as a percentage of total performance, was in the high single digits, 8.9%," said Johannes Heckmann, the CEO of Nabaltec AG. "Adjusting for the non-recurring effect, Nabaltec Group's operating earnings power improved to a very strong level."
Revenues in the "Functional Fillers" product segment were EUR 32.3 million, up 1.9% from the same period of last year (EUR 31.7 million). The fast-growing boehmite product range once again delivered very strong results in the first quarter of 2021, and was unaffected by the pandemic. Revenues in this product range were up 70.6% from the same period of last year. Boehmite is a key ingredient in the separator film coating for the lithium ion batteries used in electric vehicles. Most of the revenues in this product range are generated in Asia, for now, but production capacity for electric vehicle batteries is being built up in Europe as well. Nabaltec has recently begun deliveries to customers in this region. Revenues in the "Specialty Alumina" product segment were at the level of the previous year of EUR 13.7 million. The prior-year quarter still included revenues in the amount of EUR 1.0 million from the mullite product range. The production was discontinued in the course of 2020.
Johannes Heckmann: "Since the start of 2021, we have seen growing demand both in the boehmite product range and all along the value chain in our target markets, particularly in Europe and Asia. Companies are also increasingly building up inventories, unlike in 2020, when the focus was on optimizing working capital and creating liquidity. We expect to be posting record highs once again starting in 2022 at the latest."
Note: Nabaltec AG's quarterly report for the first quarter of 2021 will be available for download as of 27 May 2021 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:||1201101|
|End of News||DGAP News Service|