Pressemitteilung BoxID: 328186 (Nabaltec AG)
  • Nabaltec AG
  • Alustraße 50 - 52
  • 92421 Schwandorf
  • Ansprechpartner
  • Heidi Wiendl
  • +49 (9431) 53-202

Nabaltec AG: Preliminary Financial Figures for Year 2009

(PresseBox) (Schwandorf, ) .
- Revenues and earnings stabilize considerably in the second half of 2009
- 2009 revenues fall by 24.1%, to EUR 73.1 million; EBITDA down from EUR 9.3 million, to EUR 3.7 million
- US subsidiary, Nashtec, posts revenues in line with last year and reports positive operating profit
- 2010 outlook: Revenue growth in the low double digits

Nabaltec AG finished an extremely challenging 2009 with clear improvements in the third and fourth quarters. After falling sharply in the first and second quarters, revenues in the second half of the year were up 20.8% from the first six months of 2009. The fourth quarter was the strongest of the year in terms of total performance, and the first in which revenues were up from the year before. The earnings trend also turned around in the course of the year. Earnings before interest, taxes, depreciation and amortization (EBITDA) turned positive in the second quarter, and the third and fourth quarters finished with a positive operating profit (EBIT), adjusted for onetime extraordinary effects, and the trend is rising.

According to Gerhard Witzany, a member of the Nabaltec AG Management Board: "The turnaround over the course of the year gives us confidence that we have returned to a sustained growth track. If the market environment develops in this direction, it will quickly become evident from our revenues and earnings that our strategic decisions to build up our own production in the US, to enter the additives market for plastics in 2009 and to open an entirely new target market with boehmite qualities developed on our own for the electronics industry, were the right ones."

According to preliminary data, Nabaltec Group's revenues fell by 24.1% in 2009, from EUR 96.3 million to EUR 73.1 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) were EUR 3.7 million in 2009, down from EUR 9.3 million the year before. In this case as well, results stabilized considerably over the course of the year, as EBITDA in the second half of the year were up 136.4% from the first six months.

Nabaltec Group's operating profit (EBIT) finished the year at EUR -2.7 million, down from EUR 4.1 million the year before. This number also improved from quarter to quarter when viewed on a comparable basis, i.e. taking into account that the fourthquarter results were affected by onetime extraordinary effects in the amount of EUR 1.3 million, resulting primarily from transfers to pension provisions. After adjusting for these extraordinary effects, EBIT improved in the course of the year from EUR -2.0 million in the first half to EUR 0.6 million in the second half. Consolidated earnings after adjusting for minority interests were EUR -5.0 million, down from EUR 1.1 million in 2008.

Playing an important part in Nabaltec's relatively stable course of business compared to other companies in its industry, as well as its secondhalf recovery, was the performance of its US subsidiary, Nashtec, whose revenues 2009 held steady at 2008 levels. Accordingly, the decision to introduce a second product quality in the US was proved right, as demand and revenues have been better ever since. Nashtec has been cashpositive since the first half of the year, and is now breakeven on an operating basis and in its pretax results. With capacity utilization growing in the second half of the year, Nashtec reached values which were deemed hardly possible given the present conditions in the industry.

Nabaltec expects the company to return to its longterm growth track in all areas in 2010. The goal is a revenue growth on low doubledigit level and a clear improvement in earnings over 2009, as well as a posting a breakeven operating result. Market conditions are right in all of Nabaltec's product segments. For example, recent market studies project that the market for halogenfree flame retardants, Nabaltec's highestrevenue segment, will grow at an average rate of 8.1% a year through 2014. Nabaltec intends to profit from this growth in flame retardants in several ways: by benefit from the growth in the general market, by replacing the environmentally harmful flame retardants which are still in use with halogenfree, i.e. ecofriendly products and by taking market share away from its competitors on the strength of its highquality and innovative products. The market for technical ceramics and refractory products depends primarily on global steel production, and a clear stabilization is expected in 2010 after the sometimes dramatic declines in 2009.

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 ("ATH") and aluminum oxide, as well as other raw materials, on an industrial scale through its "Functional Fillers" and "Technical Ceramics" divisions. The company's product range includes flameretardant fillers for the plastics industry, used e.g. in cables in tunnels, airports, highrise buildings and electronic devices, as well as base materials for use in technical ceramics, the refractory industry and catalysis. Unlike halogenated flameretardant fillers, the products manufactured by the company's "Functional Fillers" division contain no hazardous substances and do not require separate disposal. Rather, the company's flameretardant fillers actually decrease the development of fumes hazardous to human health and the environment in the event of fire. Nabaltec maintains production sites in Germany and the US and plans to continue to consolidate 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 not just the quality leadership, but also the market leadership in each segment.

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