Nabaltec_E_GB2016

T R O P E R T N E M E G A N A M D E T A D I L O S N O C 38 FINANCIAL REPORT Based on EBITDA the business division “Functional Fillers” decreased slightly in the reporting period, by 2.8%, from EUR 17.8 million to EUR 17.3 million. Business division “Functional Fillers” was the focus of investments in 2016 The business division “Functional Fillers” was the focus of investments within Nabaltec Group in 2016, accounting for around 73% of total investments, which were made primarily in opti- mizing production processes, improving infrastructure and replacement investments. TECHNICAL CERAMICS (IN EUR MILLION) Revenues EBITDA EBIT Investments 2016 50.1 5.6 2.6 5.3 2015 49.1 6.9 4.1 3.7 Revenues in the business division “Technical Ceramics” increased by 2.0% in the reporting year, from EUR 49.1 million to EUR 50.1 million. This change was due above all to a slight increase in sales volume. REVENUE BUSINESS DIVISION “TECHNICAL CERAMICS” PER QUARTER (IN EUR MILLION) Q4 Q3 Q2 Q1  2016  2015 11.6 12.2 12.9 12.8 12.5 12.2 13.1 11.9 EBITDA in the business division “Technical Ceramics” was down 18.8% from the year before, from EUR 6.9 million to EUR 5.6 million. Around 27% of total investments went into the business division “Technical Ceramics,” primarily into expanding capacity for high value-added products and optimizing production processes. 2.3.2 FINANCIAL POSITION Financial management is assigned to the Management Board directly and primarily includes managing the capital structure, managing liquidity, interest rate and currency hedging and obtaining funds. The subsidiary Nashtec is integrated into the Group’s liquidity management system. Exchange rate fluctuations are mainly neutralized The impact of fluctuations in the USD/EUR exchange rate has been largely neutralized by Nabaltec’s production in the US, through the subsidiary Nashtec. Nabaltec uses exchange rate hedging instruments in connection with the change in the USD/EUR structure since the third quarter of 2016, as well as additional exchange rate risks, when such a course is indicated due to the volatility of the markets or the scope of the foreign exchange transactions. |||| Nabaltec AG | Annual Report 2016

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