Corporate | 28 August 2007 10:00
Nabaltec AG / Half Year Results
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- Nabaltec AG's revenue rise 20.2% in the first half of the year, to EUR
42.8 million
- Earnings still affected by Nashtec start-up costs
- Positive outlook for second half
Schwandorf, 28 August 2007 – Nabaltec AG, a leading supplier of
mineral-based flame retardants and raw materials for technical ceramics,
can look back upon a successful first half of 2007. The Group reported
revenue of EUR 42.8 million in the first half, 20.2% higher than last
year's figure, EUR 35.6 million. This positive trend can be observed in
both divisions of the company. While revenue in the 'Functional Fillers'
division (including flame retardants) rose from EUR 23.3 million to EUR
28.3 million, revenue in the 'Technical Ceramics' division increased from
EUR 12.3 million to EUR 14.5 million. Due to start-up costs for the Nashtec
joint venture in the US, which started its production in November 2006,
earnings in the first six months of 2007 were lower than the year before.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
came to EUR 3.8 million (previous year: EUR 3.9 million) and earnings
before interest and taxes (EBIT) amounted to EUR 1.7 million (previous
year: EUR 2.8 million). Nabaltec's net earnings for the first half of 2007
were EUR 0.9 million, down from EUR 1.4 million in the first half of 2006.
The quarterly revenue and earnings tell a similar story. Nabaltec's revenue
rose sharply between April and June 2007, from EUR 18.0 million to EUR 22.4
million, a gain of 24.4%. As in the first quarter of 2007, both divisions
contributed decisively to this growth: revenue in the 'Functional Fillers'
division improved from EUR 11.5 million to EUR 15.1 million while the
'Technical Ceramics' division reported revenue growth from EUR 6.5 million
to EUR 7.3 million in the second quarter of 2007. EBITDA actually declined
during the same period, from EUR 2.1 million to EUR 1.8 million, and EBIT
fell from EUR 1.5 million to EUR 0.9 million. Finally, net earnings for the
quarter came to EUR 0.4 million, down from EUR 0.7 million the year before.
'We are pleased that our two divisions were equally successful in the first
half of 2007. We have already ascertained strong demand for the second
half, and therefore expect that our production sites will continue to
operate at high capacity' said Gerhard Witzany, Member of the Board of
Nabaltec AG. 'Over the course of 2007, we expect that the effect of the
recent limited production at Nashtec will be compensated by our increased
capacity in Schwandorf. We will be able to largely resume US production by
mid-September and Nashtec should reach full capacity in October at the
latest.' The management board of Nabaltec AG therefore adheres to its
revenue estimate of about EUR 95 million in 2007, and earnings are expected
to exceed last year's earnings.
The complete quarterly report can be found at www.nabaltec.de under
'Investor Relations.'
About Nabaltec AG
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 flame-retardant fillers for
the plastics industry, used e.g. in cables, tunnels, airports, high-rise
buildings and electronic devices, as well as 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. It aims to further consolidate its
market position by increasing capacity, continuing to optimize its
processes and product quality and strategic additions to its product range
and to secure the market leadership in each segment where its specialty
products are represented, in addition to qualitative leadership.
Contact:
Heidi Wiendl
Nabaltec AG
Phone: +49 9431 53-202
Fax: +49 9431 53-260
E-mail: InvestorRelations@nabaltec.de
Frank Ostermair / Linh Chung
Haubrok Investor Relations GmbH
Phone: +49 89 461347-10
Fax: +49 89 461347-29
E-mail: F.Ostermair@haubrok.de
28.08.2007 Financial News transmitted by DGAP
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Language: English
Issuer: Nabaltec AG
Alustraße 50-52
94241 Schwandorf
Deutschland
Phone: +49 9431 53-0
Fax: +49 9431 53-260
E-mail: info@nabaltec.de
Internet: www.nabaltec.de
ISIN: DE000A0KPPR7
WKN: A0KPPR
Indices:
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart; Entry
Standard in Frankfurt
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