Nabaltec AG with a dividend proposal of EUR 0.28 per share and revenues of EUR 54.0 million in the first quarter of 2024 according to preliminary figures

• Revenues in 2023 at EUR 200.1 million after EUR 218.8 million in the previous year (-8.5%)
• Operating profit (EBIT) in 2023 of EUR 18.3 million (2022: EUR 29.2 million)
• Preliminary figures for the first quarter of 2024: Revenues at EUR 54.0 million (Q1 2023: EUR 57.0 million); EBIT EUR 5.0 million (Q1 2023: EUR 5.2 million)
• Confirmation of the outlook 2024: Revenues slightly above the previous year's level; EBIT margin in a range of 7% to 9%

Schwandorf, 25 April 2024 – Nabaltec AG published its consolidated financial statements for 2023 today and confirms the preliminary figures for the 2023 Financial Year. The company achieved revenues of EUR 200.1 million after EUR 218.8 million in the previous year (-8.5%). The operating profit (EBIT) was EUR 18.3 million in 2023 after EUR 29.2 million in the previous year. The EBIT margin (EBIT as a percentage of total performance) was 9.1%.

In 2023, earnings before interest, taxes, depreciation and amortization (EBITDA) were EUR 31.0 million after EUR 42.4 million in 2022 (-26.9%). The EBITDA margin (EBITDA as a percentage of total performance) was 15.4%. Consolidated earnings for the financial year just closed was EUR 11.4 million, compared to EUR 26.4 million in the previous year. This corresponds to an earnings per share (EPS) of EUR 1.30 in 2023 (previous year: EUR 3.00). As in the previous year, the Management Board and Supervisory Board intend to propose to the shareholders a dividend of EUR 0.28 per share for the 2023 Financial Year at the 2024 Annual General Meeting.

“Despite the negative industry environment in the chemical industry, we managed to achieve an EBIT margin of 9.1%. We also had to accept a loss in revenues because the industry did not gain momentum across the board. Examples include the steel and construction industries or e-mobility. But the prospects for our products remain intact. In many cases we offer an environmentally friendly and high-quality alternative, for example in flame protection or thermal management for lithium-ion batteries. These drivers for the use of sustainable materials and the ever-increasing substitution of environmentally harmful substances remain unchanged or are even increasing. Especially against the background of the continued positive medium-term outlook, we have decided to let our shareholders participate in the company’s success with a dividend at the previous year’s level despite the dip in revenues and earnings in 2023,” reports Johannes Heckmann, CEO of Nabaltec AG.

In the “Functional Fillers” product segment, Nabaltec achieved revenues in the amount of EUR 142.3 million in 2023 after EUR 148.0 million in the previous year. This corresponds to a decrease of 3.9%. In the boehmite product range, which currently accounts for around 9% of consolidated revenues, revenues in 2023 amounted to EUR 17.3 million after EUR 19.0 million in the previous year. Revenues in the “Specialty Alumina” product segment amounted to EUR 57.8 million in 2023 after EUR 70.9 million in the previous year (-18.5%). The continuing weakness of the steel industry is leaving its mark here.

The start of 2024 was solid, but customer orders continue to be characterized by short-termism. According to preliminary figures, Nabaltec AG achieved consolidated revenues of EUR 54.0 million for the first three months of 2024 after EUR 57.0 million in the first quarter of the previous year (-5.3%). According to preliminary figures, revenues in the “Functional Fillers” product segment were EUR 38.7 million after EUR 40.1 million in the same quarter of the previous year. The “Specialty Oxides” product segment achieved revenues of EUR 15.4 million after EUR 17.0 million in the comparable quarter. According to preliminary figures, the company achieved operating profit (EBIT) of EUR 5.0 million in the first three months of 2024 (previous year: EUR 5.2 million). The EBIT margin (EBIT as a percentage of total performance) was 9.3% in the first quarter of 2024.

Given the current economic and industry-related environment, Nabaltec expects revenues for 2024 to be slightly above the level of the previous year 2023 (EUR 200.1 million). In terms of earnings, Nabaltec expects an EBIT margin in a range of 7% to 9% after 9.1% in the 2023 Financial Year. Johannes Heckmann: “We expect positive impulses in particular from an increase in volume across a wide product range as well as a slight increase in demand in the area of flame protection in Europe and for new applications, especially in thermal management. At the same time, we remain cautious in our forecast for the current financial year due to the overall situation in the chemical industry.”

Note: The 2023 Annual Report and the 2023 Annual Financial Statements for Nabaltec AG are available for download at www.nabaltec.de/en/investor-relations/financial-reports.

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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