EQS-News: Nabaltec AG
/ Key word(s): Quarter Results
Nabaltec AG achieves revenue growth of 4% to EUR 57.0 million in the first three months of 2023
Schwandorf, 25 May 2023 – Nabaltec AG today published its interim report for the first quarter of 2023, confirming the preliminary figures for the first three months. Accordingly, the company achieved revenues of EUR 57.0 million in the first quarter, compared to EUR 54.8 million in the same quarter of the previous year (up 4.0%). In terms of operating profit (EBIT), Nabaltec generated EUR 5.2 million in the first three months of 2023, compared to EUR 7.1 million in the corresponding period of the previous year. The EBIT margin (EBIT as a percentage of total performance) was 9.4%.
Revenues in the "Functional Fillers" product segment amounted to EUR 40.1 million in the first quarter of 2023, compared to EUR 36.9 million in the same quarter of the previous year (up 8.7%). Sales volumes in the boehmite product range stagnated compared to the prior-year period. In the "Specialty Alumina" product segment, Nabaltec generated revenues of EUR 17.0 million in the first quarter of 2023, down 5.0% on the same quarter of the previous year (Q1/2022: EUR 17.9 million). Sales volumes fell significantly by 18.0% in the segment, due in particular to the current weakening of the steel industry and consistent inventory optimization on the part of customers.
"Some target sectors, such as the market for boehmite, still remain significantly inhibited by the lack of impetus from the industry, especially in Europe. Nabaltec will closely monitor further developments and expects the market to regain momentum in the medium term," reports Johannes Heckmann, CEO of Nabaltec AG. "However, the current weak phase on the market side once again confirms us in our already cautiously formulated forecast for 2023 as a whole, within whose range we were exactly in the first quarter."
Nabaltec's forecast for 2023 continues to assume revenue growth in a range of 3% to 5%. On the earnings side, the company considers an EBIT margin in a range of 8% to 10% realistic for the year as a whole.
Note: Nabaltec AG’s interim report for the first quarter of 2023 will be available for download as of 25 May 2023 in the Investor Relations section of www.nabaltec.de/en.
About Nabaltec AG:
Nabaltec AG, with registered office in Schwandorf, a chemicals business which has received multiple awards for innovativeness, manufactures, develops and distributes highly specialized products based on aluminum hydroxide and aluminum oxide on an industrial scale through its two product segments, "Functional Fillers" and "Specialty Alumina." The company's product range includes eco-friendly flame retardant fillers and functional additives for the plastics industry. Flame retardant fillers are used e.g. in cables in tunnels, airports, high-rise buildings and electronic devices, while additives have applications in catalysis and in electric vehicles. Nabaltec also produces specialty oxides for use in technical ceramics, the refractory and polishing industries. Nabaltec maintains production sites in Germany and the US and plans to continue to develop its market position by expanding capacity, further optimizing processes and quality and making strategic extensions to its product range. On the strength of its specialty products, the company strives to attain the market leadership in each segment.
25.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|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:||1641287|
|End of News||EQS News Service|
1641287 25.05.2023 CET/CEST