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Nabaltec AG: Preliminary 2011 data set new records
- revenues a record-high EUR 129.0 million;
- EBIT up from EUR 6.5 million to EUR 12.5 million;
- a good start to 2012, and further revenue growth expected.
Nabaltec AG posted new records for key figures in Financial Year 2011, according to preliminary data. Despite the fact that the economic and market environment worsened as the year went on, revenues were up 14.5%, to EUR 129.0 million, and operating result (EBIT) was up 92.3%, to EUR 12.5 million. Earnings before taxes (EBT) improved from EUR 1.4 million to EUR 6.2 million. Earnings per share doubled to EUR 0.45 and shareholders' equity was up 11.4%, to EUR 46.9 million.
Gerhard Witzany, member of the Nabaltec AG Management Board, stated as follows: "After a very strong first half of the year, conditions became increasingly difficult in the second half. As a result, we are especially proud that we were nevertheless able to report record revenues and earnings in the past Financial Year."
Both business divisions of Nabaltec AG contributed to this very strong performance in Financial Year 2011. Revenues in the "Functional Fillers" division were up 11.7%, to EUR 84.8 million, thanks to a stable sales volume and an increasing focus on high added-value product segments. Nabaltec's US subsidiary Nashtec was able to further solidify its market position and is now a reliable contributor to the Group's earnings. Nashtec's revenues were up by around 19% from the year before. The revenue growth rate in the "Technical Ceramics" division was higher than the Group average, with revenues up 20.1%, to EUR 44.2 million. Nabaltec Group's export ratio remained down slightly from the year before, at 68.4%.
The earnings trend was also very positive in both business divisions. EBITDA increased by 50.0% in the reporting year in the "Functional Fillers" division, from EUR 9.0 million to EUR 13.5 million, and from EUR 5.3 million to EUR 7.0 million in the "Technical Ceramics" division. Overall, EBITDA increased to EUR 20.6 million, up from EUR 14.3 million the year before.
The year 2012 started encouraging. The caution which many customers have exhibited since the third quarter of 2011, some of whom have deliberately cut their inventories, gave way to a rebound in demand at the start of 2012. Thanks to the impact of pent-up demand, the first quarter of 2012 got off to a good start. "With our product range and the reputation we have built over the years, we are perfectly positioned for continued success. We expect our markets to remain fully intact in 2012 and, provided the economic situation does not worsen significantly, we look forward to further revenue growth, although the overall rate of growth will be lower than in 2011. If the economic environment remains stable, growth of higher than 5% should be attainable. As for the operating result (EBIT), we expect to post a margin similar to last year's," said Johannes Heckmann, member of the Nabaltec AG Management Board.
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