Nabaltec AG reports continuing growth in revenues and earnings in the first nine months of 2019

• Revenues up 4.4% to EUR 141.3 million in the first nine months of 2019 (same period of last year: EUR 135.3 million)
• Slowdown in quarterly revenue growth: revenues up 0.9% in the third quarter, to EUR 43.9 million (Q3/2018: EUR 43.5 million)
• EBIT of EUR 17.3 million in the first nine months of 2019 (up 23.6%) and with EBIT margin of 12.3%
• Forecast for 2019: revenues in a range from EUR 181 million to EUR 184 million and EBIT margin in a range from 10.0% to 12.0%

Schwandorf, 21 November 2019 - Nabaltec AG once again reported growth in revenues and earnings in the first nine months of 2019. Consolidated revenues came to EUR 141.3 million in the reporting period, up from EUR 135.3 million last year (for a gain of 4.4%). Quarterly revenues were EUR 43.9 million, up 0.9% from the same quarter of last year.

EBIT reached EUR 17.3 million in the first nine months of 2019, 1.2% higher than the preliminary figure of EUR 17.1 million and up 23.6% from the year before (EUR 14.0 million), for an EBIT margin of 12.3% in the reporting period (EBIT as a percentage of total performance). The company reported EBITDA of EUR 27.4 million, compared to EUR 23.0 million in the same period of last year (up 19.1%).

"Despite revenues and earnings which represent the highest ever for a third quarter, results have fallen short of our expectations. In particular, revenues in the 'Specialty Alumina' product segment were down sharply in the past quarter, while demand in the 'Functional Fillers' product segment has been largely stable. The trend in the boehmite product range has been especially positive, with revenues up 63.2% in the third quarter," said Johannes Heckmann, CEO of Nabaltec AG.

Revenues in the "Functional Fillers" product segment were up 7.2% in the third quarter, climbing to EUR 29.9 million from EUR 27.9 million in the same period of last year. Over the first nine months of 2019, revenues in this product segment therefore amounted to EUR 96.2 million, compared to EUR 87.9 million in the same period of last year (up 9.4%). Revenues in the "Specialty Alumina" product segment amounted to EUR 14.0 million in the third quarter, down 10.3% from the same quarter of last year (EUR 15.6 million). Over the first nine months of 2019, revenues in this product segment amounted to EUR 45.1 million, compared to EUR 47.3 million in the same period of last year (down 4.7%).

"The weakening in the refractory industry as a result of the downturn in the European steel industry has not left us entirely unscathed," Johannes Heckmann continued. "The market environment is becoming more difficult, particularly in Europe. In addition, production at our subsidiary Nashtec has yet to reach expected levels due to technical problems. Additional measures will be implemented in the fourth quarter of 2019 in order to normalize production as of 2020. These developments induced us to revise our 2019 revenue estimate in October. If revenues fall within the new range, EUR 181 million to EUR 184 million, they would once again exceed last year's revenues of EUR 176.7 million, despite recent developments." The earnings estimate for 2019 as a whole, calling for an EBIT margin in a range from 10.0% to 12.0%, was confirmed. The EBIT margin in 2018 was 10.4%.

Note: Nabaltec AG's quarterly report for the third quarter of 2019 will be available for download as of 21 November 2019 in the Investor Relations section of

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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