Nabaltec AG: 2011 forecast raised and elaborated upon
- revenues expected to climb to over EUR 135 million in 2011;
- EBIT of more than EUR 12 million expected in 2011.
At today's shareholders meeting in Amberg, Nabaltec AG elaborated upon and raised its forecasts for 2011. Revenues are now expected to climb to over EUR 135 million, which would represent growth of at least 20% over 2010's total of EUR 112.7 million. Until now, Nabaltec had been forecasting revenue growth in the low double digits.
Nabaltec expects its operating result (EBIT) to grow at a much faster pace, to more than EUR 12 million. For reference, EBIT improved to EUR 6.5 million in 2010 from EUR -2.7 million the year before. Accordingly, the EBIT margin is expected to climb to more than 9% in 2011. According to Gerhard Witzany, member of the Nabaltec AG Management Board: "This is the target which we intend to be measured against in 2011. At the same time, it represents a big and important step towards our goal of a sustained double-digit EBIT margin. With earnings growth this strong, we should be able to lay the groundwork for restoring dividends in the medium term. Perhaps this is a step which we will be able to discuss at the shareholders meeting twelve months from now."
All of the agenda items which were put up for a vote at the shareholders meeting were adopted with large majorities. This included resolutions approving the actions of the Management Board and Supervisory Board, revising and adjusting according to amount of authorized and conditional capital stock to EUR 4.0 million each, revising the authorization to issue warrants and/or convertible bonds and a five-year authorization to execute a share buyback program.
Note: The voting results for Nabaltec AG's 2011 general meeting will be available for download from the Investor Relations section of www.nabaltec.de as of 10 June 2011.
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 ("ATH") and aluminum oxide, as well as other raw materials, on an industrial scale through its "Functional Fillers" and "Technical Ceramics" divisions. The company's product range includes halogen-free flame retardant fillers and eco-friendly 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 replace stabilizers containing heavy metals in PVC processing. Nabaltec also produces base materials for use in technical ceramics, the refractory industry and catalysis. Unlike halogenated flame retardant fillers, the products manufactured by the company's "Functional Fillers" division contain no hazardous substances and do not require separate disposal. Rather, the company's flame retardant fillers actually decrease the development of fumes hazardous to human health and the environment in the event of fire. Nabaltec maintains production sites in Germany and the US and plans to continue to consolidate 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.