Mar. 01, 2019 - Nabaltec AG posted growth once again in Financial Year 2018, according to preliminary data. Consolidated revenues were EUR 176.7 million, up 4.8% from the year before (2017: EUR 168.6 million), as revenues in each quarter of the year were up from the same quarter of the year before. Operating profit (EBIT) amounted to EUR 18.5 million in 2018 according to preliminary data, up from EUR 18.3 million in the year before. The company posted an EBIT margin (EBIT as a percentage of total performance) of 10.4% and earnings before interest, taxes and depreciation (EBITDA) were up 2.0%, from EUR 30.0 million to EUR 30.6 million.
"Despite the challenges which last year held, we were able to continue our successful performance from previous years and once again post revenue growth in the mid-single digits. We slightly exceeded our forecasted EBIT margin," said Johannes Heckmann, CEO of Nabaltec AG. "Many of the factors which helped us compensate for the temporary loss of the revenues and earnings contributed by our US subsidiary Nashtec in 2018 are of a lasting nature, such as improvements in our product mix, which has shifted towards higher-margin products."
Both product segments, "Functional Fillers" and "Specialty Alumina," contributed to the company's strong revenues in 2018. Revenues in the "Functional Fillers" product segment amounted to EUR 114.6 million in 2018, up 2.1% from the previous year (2017: EUR 112.2 million). The "Specialty Alumina" product segment earned EUR 62.1 million in revenues in Financial Year 2018, for a strong gain of 10.1% over the previous year (2017: EUR 56.4 million). This growth was largely driven by price increases and positive developments in the product mix for both product segments, as well as volume effects in the "Specialty Alumina" product segment.
Nabaltec AG was also able to get off to a good start in 2019. Nashtec resumed production at the end of 2018 and will be assuming full responsibility for supplying US customers starting in the second quarter of 2019 with increased capacity in the US, freeing up capacity for non-halogenated flame-retardant fillers at the Schwandorf site. In addition, Naprotec LLC is currently expected to begin production of refined hydroxide in the second half of 2019, with a capacity of about 30,000 tons per year. Nabaltec expects to see a positive net impact on consolidated results one year after the plant goes online.
Assuming stable economic performance, Nabaltec therefore expects revenues in a range from EUR 190 million to EUR 195 million in 2019 and an EBIT margin in a range from 10.0% to 12.0%.