Nabaltec AG: Record Results in the First Half of 2011
Nabaltec AG‘s growth in previous quarters continued in the second quarter of 2011.
Consolidated revenues were up 19,6 %, climbing from EUR 29,1 million in the second quarter of 2010 to EUR 34,8 million in the reporting quarter. During the same period, total performance improved to a record high of EUR 36,8 million. Revenues in the first half of 2011 were EUR 70,1 million, up 31,3 % from the first half of 2010, when revenues were EUR 53,4 million. The company´s earnings grew at a significantly faster pace than revenues, as operating result (EBIT) was up 80 %, from EUR 2,5 million in the second quarter of 2010 to EUR 4,5 million in the reporting quarter. Due to the fact that earnings growth continues to accelerate, EBIT rose to EUR 8,4 million in the first six months of 2011, up from EUR 3,5 million in the first half of last year. Nabaltec’s EBIT margin (EBIT as a percentage of total performance) increased from 6,7 to 11,6 %. This relatively fast growth in operating result is attributable above all to Nabaltec’s ability to develop products with especially high added value, as the long-term product strategy of focusing on high-quality and concentration on specialty products has had the desired effect. Earnings before taxes improved considerably, from EUR 1,3 million to EUR 5,2 million. After taxes and non-controlling interests, consolidated result after taxes for the first six months of the year was EUR 3,5 million. The results for both business divisions, Functional Fillers and Technical Ceramics, underscore the fact that prospects for growth in international markets are very much intact, with revenues in the Functional Fillers division up 19,4 % in the second quarter and revenues in the Technical Ceramics division up 21,3%. Over the first six months of the year, revenues in the Functional Fillers division came to EUR 47,6 million, up 31,5 % from the first half of 2010, when revenues were EUR 36,2 million. Revenues in the Technical Ceramics division increased by EUR 5,3 million to EUR 22,5 million in the first half of the year, as this division continued its strong growth. The growth trend in the two newest innovative product segments, additives and boehmite, is also accelerating, whether in the replacement of heavy metal-based additives in PVC production, PCB production or other applications. Based on this outlook, Nabaltec has confirmed its 2011 forecast and expects its revenues to climb to over EUR 135 million in 2011, which would represent revenue growth of at least 20 % over 2010, when revenues were EUR 112,7 million. Nabaltec projects its operating result (EBIT) to grow at a substantially faster pace in 2011, to more than EUR 12 million. The company´s EBIT improved to EUR 6,5 million in 2010, up from EUR –2,7 million the year before (8/2011).