Nabaltec AG confirms preliminary figures for Financial Year 2015 and generates record revenues in the first quarter of 2016
Total revenues of EUR 151.3 million and EBIT of EUR 14.5 million confirmed for 2015;
Earnings per share climb 21.7% in 2015 to EUR 0.84;
Revenues for the first three months of 2016 stand at EUR 41.2 million, up from EUR 38.8 million in the previous year;
Management Board and Supervisory Board plan to propose a dividend of EUR 0.15.
Nabaltec AG published its 2015 consolidated financial statements today and confirmed the preliminary figures. In the past financial year, the company once again increased its revenues – by 5.6% – from EUR 143.3 million in the previous year to EUR 151.3 million. Earnings before interest and taxes (EBIT) of EUR 14.5 million and earnings per share of EUR 0.84 Euro once more exceeded the record levels of the previous year by 14.2% and 21.7%, respectively. All four quarters equally contributed to the good revenue trend, with each quarter up on the previous year’s value. At EUR 155.0 million, orders received in 2015 were up by 2.5% on the previous year.
According to Gerhard Witzany, Member of the Board of Nabaltec AG: “The past year again saw us deliver customized solutions of top quality to our global customers. This reliability is an essential success factor and the basis for our continued growth potential also in the international markets. Based on our very good performance in 2015 and the prospects of continued moderate growth in 2016, the Management Board and the Supervisory Board intend to propose to our shareholders at the 2016 Annual Meeting a dividend increase from EUR 0.12 per share to EUR 0.15 per share.”
Nabaltec Group’s operating cash flow was down by a moderate 3.8% on the previous year’s EUR 20.9 million to EUR 20.1 million. A lower increase in trade payables and other liabilities of EUR 0.9 million was offset by a EUR 3.2 million rise in inventories.
The company had a positive start to 2016. According to preliminary figures, Nabaltec’s revenues in the first three months of 2016 of EUR 41.2 million significantly exceeded the level of both the previous quarter and the first quarter of 2015 and reached a new record high. The business division “Functional Fillers” generated revenues of EUR 28.1 million, while the business division “Technical Ceramics” posted revenues of EUR 13.1 million. According to preliminary figures, Nabaltec had an operating result (EBIT) of EUR 3.5 million in the reporting period, as well as an EBIT margin (EBIT as a percentage of total performance) of 8.5%. Compared to the prior year period, EBIT was adversely affected by EUR/USD exchange rate effects in the first quarter of 2016. Based on preliminary figures, EBITDA amounted to EUR 6.2 million in the reporting period.
“We have been able to continue the good business performance of the previous year in 2016 and expect moderate revenue growth. In view of the unpredictable outcome of the Chapter 11 proceedings of our US raw materials supplier, Sherwin Alumina LLC, we are a bit concerned about the current financial year, although we recently received the good news that an affiliate of the minority shareholder in Nashtec LLC won the bid to purchase Sherwin Alumina LLC’s assets,” says Johannes Heckmann, Member of the Board of Nabaltec AG. “Hence, the future owner of Sherwin will have an indirect interest to ensure the economic success of Nashtec. We will certainly take all necessary steps to allow our US subsidiary, Nashtec, to continue operating as smoothly as possible and, furthermore, to convince our US customers of our strengths.”
Note: The 2015 Annual Report and the 2015 Annual Financial Statements of Nabaltec AG are available for download in the Investor Relations section at www.nabaltec.de.
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 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.