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Nabaltec AG posts record-high revenues in the first quarter of 2017
- Revenues up 5.8% to EUR 43.6 million
- EBIT up 14.3% to EUR 4.0 million in the first three months of the year, with an EBIT margin of 9.3%
Nabaltec AG published its interim report for the first quarter of 2017 today and confirmed its preliminary estimates. The company's revenues were up 5.8% over the year before, to a record high of EUR 43.6 million.
Johannes Heckmann, Nabaltec AG’s CEO, stated as follows: "The first quarter of 2017 was extraordinarily successful for Nabaltec, as we were able to show that our long-term growth trend is continuing and that we have made the right moves in both product segments in order to set a course for continuing growth. Our target markets are all performing well, associated with a growing demand for our products."
The "Functional Fillers" and "Technical Ceramics" product segments both contributed to the revenue growth in the first quarter. Revenues in the "Functional Fillers" segment increased by 3.2% over the first quarter of last year, from EUR 28.1 million to EUR 29.0 million. Revenues in the "Technical Ceramics" segment came to EUR 14.6 million, up 11.5% over the figure for the same quarter of last year, EUR 13.1 million.
Consolidated EBIT improved by 14.3% in the reporting quarter, to EUR 4.0 million, up from EUR 3.5 million in the same period of last year. The EBIT margin (EBIT as a percentage of total performance) was 9.3% in the first three months of 2017. Earnings before interest, taxes, depreciation and amortization (EBITDA) came to EUR 6.8 million in the first quarter of 2017, up 9.7% from the year before. Earnings per share amounted to EUR 0.28 in the first three months of 2017, compared to EUR 0.22 in the first three months of 2016.
"With the acquisition of all shares in Nashtec, we have set a clear path for the future," said Günther Spitzer, the CFO of Nabaltec AG. "As we planned, we will be implementing the stand-alone solution for Nashtec in 2017. This will be associated with an increase in capacity to about 30,000 tons per year."
All shares in Nashtec LLC were acquired in March 2017. Production is expected to resume at the start of 2018, from this point US customers will be supplied by Nashtec directly. Given the implementation of a stand-alone solution through the end of 2017, and assuming economic and sector performance remain stable, Nabaltec expects moderate revenue growth in 2017, in the low single digits, and an EBIT margin in the high single digits.
Note: Nabaltec AG's interim report for the first quarter of 2017 will be available for download in the Investor Relations section of www.nabaltec.de as of 30 May 2017.
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