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Nabaltec AG: Preliminary 2010 figures show record revenues

(PresseBox) (Schwandorf, ) .
- revenue forecast exceeded due to outstanding fourth quarter of 2010;
- EBIT improved from EUR -2.7 million to EUR 6.5 million in 2010;
- orders on hand at record level, EUR 53.3 million;
- 2011 outlook: revenue growth expected in the low double digits and EBIT expected to increase above average.

According to preliminary figures, Nabaltec AG set new records in revenues and earnings in Financial Year 2010. Revenues were up 54.2%, from EUR 73.1 million to EUR 112.7 million and preliminary figures indicate that Nabaltec earnings before interest, taxes and depreciation (EBITDA) increased from EUR 3.7 million to EUR 14.3 million. EBIT improved to EUR 6.5 million, coming after a loss of EUR 2.7 million the year before, and earnings before taxes (EBT) improved from EUR -7.0 million to EUR 1.4 million.

Gerhard Witzany, Member of the Board of Nabaltec AG, stated as follows: "We raised our 2010 forecast on two occasions but still exceeded it. We've set multiple new records over the course of the year with an outstanding fourth quarter of 2010, in which revenues were above EUR 30 million for the first time. We also had incoming orders of EUR 58.6 million in that quarter and, for the year as a whole, incoming orders amounted to EUR 159.4 million. With revenues of EUR 112.7 million for the year, this is a clear indication for a continuous further growth. Nabaltec finished the year 2010 with EUR 53.3 million in orders on hand, the highest in company history."

Nabaltec's growth in 2010 was very broad-based. Both business divisions posted strong revenue growth, with revenues in the "Functional Fillers" division up 51.2% and revenues in the "Technical Ceramics" division up 60.7%. All product segments and all regions posted growth in 2010. Growth was especially strong in the US, where each of the company's two divisions more than doubled their revenues from the year before. Nabaltec Group's export rate remained nearly unchanged, at 69.9%, and at a very high level.

Both divisions also reported a very significant jump in earnings in 2010. EBITDA in the "Functional Fillers" division improved from EUR 2.8 million to EUR 9.0 million, while EBITDA in the "Technical Ceramics" division increased from EUR 0.9 million to EUR 5.3 million.

Based on the continuing demand for eco-friendly fillers, as well as other momentums in the technical ceramics and refractory industries, Nabaltec expects revenue growth in the low double digits in the year 2011. Operating profit (EBIT) is expected to grow faster than revenues in 2011. According to Johannes Heckmann, Member of the Board of Nabaltec AG: "We are benefiting from long-term trends. The global trend towards eco-friendly high-tech materials in flame retardants for plastics is constantly getting stronger and demand for higher-quality refractory products in metal production is increasing worldwide at a faster rate than production. At the same time, we have been able to demonstrate our reliability as suppliers and consistent quality to customers in the past two years, which were quite eventful throughout the industry. This is now helping us to improve our market position above average."