Aug. 22, 2019 - Nabaltec AG once again posted revenue and earnings growth in the first half of 2019. Revenues amounted to EUR 97.4 million in the first six months of the year, up from EUR 91.8 million in the same period of last year (up 6.1%). Revenues in the second quarter were up 5.4% from the same quarter of last year, from EUR 46.5 million to EUR 49.0 million.
EBIT amounted to EUR 12.4 million in the first six months of 2019, up 27.8% from the figure of EUR 9.7 million posted in the first half of 2018. The EBIT margin (EBIT as a percentage of total performance) was 12.7% in the first half of 2019. Earnings before interest, taxes, depreciation and amortization (EBITDA) came to EUR 19.0 million, up 21.8% from the figure of EUR 15.6 million posted in the same period of last year.
"Market demand was largely stable in the first half of 2019. Particularly in our 'Functional Fillers' product segment, the product mix improved in the direction of higher-quality products. As a result, we were able to post revenue growth with strong margins," reported Johannes Heckmann, CEO of Nabaltec AG. "But Nabaltec was not entirely unaffected by the worsening economic conditions in the first half of the year. In the 'Specialty Alumina' product segment, particularly in the product areas which are heavily oriented towards the refractory industry, the weakening in the European steel industry and in segments related to the automotive industry had a noticeable impact."
Revenues in Nabaltec's "Functional Fillers" product segment amounted to EUR 66.3 million in the first half of 2019, up 10.5% from the same period of last year, when revenues were EUR 60.0 million. Revenues in the reporting quarter were EUR 33.8 million, up from EUR 30.7 million in the same period of last year. Revenues in the "Specialty Alumina" product segment were down slightly in the first half of 2019, dropping by 2.2% to EUR 31.1 million. Revenues in the second quarter came to EUR 15.2 million, down from EUR 15.9 million in the same quarter of last year.
"In the current economic environment, uncertainty continues to mount. Nevertheless, we believe we are in a strong position for the future thanks to our broad product portfolio," said Günther Spitzer, CFO of Nabaltec AG.
Nabaltec confirms its previous forecast for 2019 as a whole and expects an EBIT margin between 10.0% and 12.0%, as well as revenues in a range between EUR 190 million and EUR 195 million.
Note: Nabaltec AG's quarterly report for the second quarter of 2019 will be available for download as of 22 August 2019 in the Investor Relations section of www.nabaltec.de.