Revenues on track in second quarter

Nabaltec AG publishes interim report January to June 2024: Revenues on track in second quarter

• Consolidated revenues grow in the first six months to EUR 108.4 million (+2.2%)
• EBIT of EUR 10.9 million in the first six months of 2024 (first half of 2023: EUR 8.5 million)
• Forecast for 2024 refined: Revenue growth of 2% to 4%, EBIT margin raised with a slight increase in bandwidth 8% to 10%

Schwandorf, 22 August 2024 - Nabaltec AG published its interim report January to June 2024 today. The company was able to realize a noticeable catch-up movement in the second quarter. At EUR 54.3 million, consolidated revenues in the second quarter of 2024 were up 10.6% on the same quarter of the previous year (EUR 49.1 million). The revenue growth in the first half of 2024 was therefore driven by the second quarter of 2024, in which sales momentum increased noticeably, particularly in the "Functional Fillers" product segment. Consolidated revenues for the first half of 2024 have been calculated at EUR 108.4 million, exceeding the same period from the previous year (EUR 106.1 million) by 2.2%.

In the "Functional Fillers" product segment, Nabaltec posted revenues of EUR 39.5 million in the second quarter of 2024, up 15.5% from the same period of last year (EUR 34.2 million). In the first six months of 2024, revenue in this product segment thus increased to EUR 78.2 million, compared to EUR 74.2 million in the same period from the previous year (+5.4%). The "Specialty Alumina" product segment generated revenues of EUR 14.8 million in the second quarter of 2024, compared to EUR 14.9 million in the same period from the previous year (-0.7%). In the first half of 2024, revenues totaled EUR 30.2 million, after EUR 31.9 million (-5.3%).

Nabaltec's earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 13.4% to EUR 16.9 million in the first half of 2024, up from EUR 14.9 million in the same period of last year. Consolidated operating profit (EBIT) was EUR 10.9 million in the first six months of 2024, compared to EUR 8.5 million in the same period from the previous year (+28.2%). The EBIT margin (EBIT as a percentage of total performance) was thus 9.9% in the first half of 2024, compared to 8.1% in the same period from the previous year.

"The general market environment for the chemical industry has already brightened somewhat, and Nabaltec is robust and very well positioned to benefit from an upturn in momentum," reports Johannes Heckmann, CEO of Nabaltec AG. "However, we will have to be patient, because the locational disadvantages in Germany, especially for sectors such as the chemical industry, will not disappear without political action."

With regard to the company’s development in the first half of 2024, Nabaltec has therefore refined the forecast presented in the 2023 consolidated management report for Financial Year 2024, making a slight upward adjustment in the EBIT margin range. Due to the economic and sector-specific environment, the company expects slight revenue growth in the range of 2% to 4% for 2024 and thus, as originally forecast, total revenues slightly above the previous year's level (EUR 200.1 million). On the earnings side, Nabaltec expects an EBIT margin in the range of 8% to 10% in the first half of 2024 due to the solid performance, compared to the previously forecast 7% to 9%.

Note: Nabaltec AG's interim report January to June 2024 will be available for download as of 22 August 2024 at https://nabaltec.de/en/investor-relations/financial-reports. The Management Board of Nabaltec AG will also hold an earnings call on Q2 2024 Highlights on 22 August 2024 at 11:00 am. Interested investors can register via the link.
 

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 and aluminum oxide on an industrial scale through its two product segments, "Functional Fillers" and "Specialty Alumina." The company's product range includes eco-friendly flame retardant fillers and functional additives for the plastics industry. Flame retardant fillers are used e.g. in cables in tunnels, airports, high-rise buildings and electronic devices, while additives have applications in catalysis and in electric vehicles. Nabaltec also produces specialty oxides for use in technical ceramics, the refractory and polishing industries. Nabaltec maintains production sites in Germany and the US and plans to continue to develop its market position by expanding capacity, further optimizing processes and quality and making strategic extensions to its product range. On the strength of its specialty products, the company strives to attain the market leadership in each segment.

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