DGAP-News: Nabaltec AG
/ Key word(s): Preliminary Results
Nabaltec AG had a record year in Financial Year 2021, exceeding its forecast even after it was raised in October 2021
Schwandorf, 8 March 2022 - According to preliminary data, Nabaltec AG had a record year in 2021, with revenues of EUR 187.0 million, up 17.2% from the previous year (EUR 159.6 million), and operating profit (EBIT) at EUR 24.6 million. This was up from an EBIT figure of EUR 9.4 million in the previous year, after adjusting for non-recurring effects. Nabaltec posted an EBIT margin of 13.1% in 2021 according to preliminary data. With this performance, the company once again exceeded its forecast, which had been raised in October 2021, and which called for revenue growth in a range from 13% to 15% and an EBIT margin of 11% to 12%.
"Both our product segments, 'Functional Fillers' and 'Specialty Alumina,' performed very well last year relative to Financial Year 2020, which was shaped by COVID-19, and demand in the markets was very strong, especially in the second half of the year. Many customers took the precaution of restocking their inventories in light of the persisting supply chain bottlenecks," reported Johannes Heckmann, the CEO of Nabaltec AG. "This end-of-year growth spurt could not have been anticipated at mid-year, which is why we were deliberately cautious in setting our estimates, and we have now exceeded our forecast even after raising it twice over the course of the year."
In the "Functional Fillers" product segment, Nabaltec posted revenues of EUR 130.6 million in Financial Year 2021 according to preliminary data, compared to EUR 114.2 million in the previous year (up 14.4%). This growth is attributable to volume growth in all product ranges, and to the continuing excellent performance of the boehmite product range. According to preliminary data, boehmite revenues were up 51.3%, to EUR 24.2 million, up from EUR 16.0 million in the previous year. Boehmite now accounts for around 13% of the company's revenues (previous year: 10%). Anticipating further growth in this product range, Nabaltec AG is planning to expand annual boehmite production capacity at the Schwandorf site from 10,000 to 25,000 tons.
Revenues in the "Specialty Alumina" product segment came to EUR 56.4 million in 2021 according to preliminary data, up from EUR 45.4 million in the previous year (up 24.2%). The boost in demand was due in particular to higher growth in the steel and refractory industry.
Nabaltec is starting off 2022 with strong demand and sales, and production at Schwandorf is at the limits of its capacity in nearly all product ranges. In addition, the company raised its prices at the start of the year. Johannes Heckmann: "We continue to operate in an uncertain and volatile environment, with geopolitical risks, global supply chain problems and the ongoing pandemic." Based on the environment in its sector and in the economy as a whole, as well as the price increases which were implemented at the start of the year, Nabaltec expects revenue growth to fall in a range from 10% to 12% in 2022 and an EBIT margin of 10% to 12%. This forecast is based on the assumption that there will be an improvement in the economy and in the industries of relevance for Nabaltec.
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.
08.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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