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Nabaltec AG Announces Dividend Proposal and First Quarter Revenues for 2024

Nabaltec AG has proposed a dividend of EUR 0.28 per share for the financial year 2023, consistent with the previous year's dividend, despite a decrease in annual revenues and earnings. The chemical company reported revenues of EUR 54.0 million for the first quarter of 2024, showing a slight decline from EUR 57.0 million in the corresponding quarter of the previous year. The operating profit (EBIT) for this quarter stood at EUR 5.0 million, marginally lower than the EUR 5.2 million reported in the first quarter of 2023.

The company's total revenues for 2023 were EUR 200.1 million, down by 8.5% from EUR 218.8 million in the previous year. The EBIT for 2023 was EUR 18.3 million, a significant drop from EUR 29.2 million in 2022. In terms of segments, "Functional Fillers" generated EUR 142.3 million, while "Specialty Alumina" posted revenues of EUR 57.8 million, reflecting a decrease of 18.5% year-over-year. Notably, the softness in the steel industry impacted the revenues in the "Specialty Alumina" segment.

Nabaltec remains cautiously optimistic for 2024, projecting revenues to be slightly above the 2023 levels, with an expected EBIT margin ranging between 7% and 9%. The firm anticipates growth driven by increased product volumes and a modest rise in demand for flame protection applications in Europe.

R. H.

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