Aug. 23, 2018 - Nabaltec AG once again reported revenue growth in the first half of 2018, with revenues climbing 3.5% to a record high of EUR 91.8 million, up from EUR 88.7 million the year before. Second-quarter revenues were up 3.1% from the same period of last year, to EUR 46.5 million (up from EUR 45.1 million).
Operating profit (EBIT) was EUR 9.7 million in the first six months of the year, on par with the year before. The EBIT margin (EBIT as a percentage of total performance) was 10.7% in the first half of 2018. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 15.6 million, up 1.3% from the value of EUR 15.4 million which was posted in the same period of last year.
"Our customers' demand remains strong and the market drivers remain intact. At the same time, we have been able to shift our product mix in the first half of 2018 towards higher-margin and more refined products. The commissioning of the production line of Nashtec has started in August, and we will be gradually ramping up production volume and resuming direct supply of our customers in the US," said Johannes Heckmann, CEO of Nabaltec AG.
Revenues in the "Functional Fillers" product segment were EUR 30.7 million in the second quarter of 2018, which was even with the year before. As was the case in the first quarter of 2018 as well, revenues in the "Specialty Alumina" product segment grew at a strong pace, climbing 10.4% to EUR 15.9 million (same quarter of last year: EUR 14.4 million). This growth was particularly attributable to an improved product mix, as well as price effects.
"Despite the considerable burden posed by Nashtec, we were able to post double-digit EBIT margin growth in the second quarter of 2018 thanks to strong boehmite revenues and a stronger US dollar," reported Günther Spitzer, CFO of Nabaltec AG. "Nevertheless, we continue to expect Nashtec's resumption of operations to weigh down our earnings in the second half of 2018. Accordingly, we have retained our previous forecast for 2018 as a whole. We expect an EBIT margin in the high single digits." Nabaltec AG also confirms its forecast calling for revenue growth in the mid-single digits.