Nabaltec : confirms preliminary data for the third quarter of 2020, with improvement in EBIT and moderate revenue growth over the previous quarter

DGAP-News: Nabaltec AG / Key word(s): Quarter Results Nabaltec AG confirms preliminary data for the third quarter of 2020, with improvement in EBIT and moderate revenue growth over the previous quarter 26.11.2020 / 10:00 The issuer is solely responsible for the content of this announcement. Nabaltec AG confirms preliminary data for the third quarter of 2020, with improvement in EBIT and moderate revenue growth over the previous quarter Schwandorf, 26 November 2020 - Nabaltec AG once again felt significant effects from the COVID-19 pandemic in the third quarter, but was able to contain the impact on revenues and above all, earnings, to a substantially larger degree. As a result, Nabaltec was able to report EUR 37.1 million in revenues in the third quarter, compared to EUR 36.4 million in the previous quarter and EUR 43.9 million in the same period of last year. Consolidated operating profit (EBIT) came to EUR 2.9 million in the third quarter of 2020, compared to EUR -0.4 million in the previous quarter and EUR 4.8 million in the same period of last year. Over the first nine months of 2020, the company posted EUR 118.9 million in consolidated revenues, down from EUR 141.3 million in the same period of last year. EBIT amounted to EUR 5.0 million (last year: EUR 17.3 million). At the same time, Nabaltec was able to post cash flow from operating activity in the amount of EUR 20.1 million over the first nine months of 2020, nearly as high as last year (EUR 21.4 million), while raising its equity ratio from 41.3% (31 December 2019) to 43.5%, reducing costs considerably and making its business even more crisis-proof, particularly with regard to the ongoing COVID-19 pandemic. "We were confronted with a noticeable drop in revenues from the same period of last year in both the second and the third quarters and the impact of the COVID-19 pandemic has weighed down our earnings considerably," reported Johannes Heckmann, Nabaltec AG's CEO. "In recent months, we have revised our cost structures and limited current-year investments to necessary maintenance projects. As a result, we were able to report positive operating profit in the third quarter." Revenues in the "Functional Fillers" product segment came to EUR 27.3 million in the third quarter, up slightly from the second quarter of 2020 (EUR 26.1 million). Over the first nine months of 2020, revenues in this product segment amounted to EUR 85.1 million, compared to EUR 96.2 million in the same period of last year (down 11.5%). In addition to the decrease in sales as a result of the pandemic, there was increased price pressure in this product segment due to excess market capacity. Revenues in the "Specialty Alumina" product segment were down once again in the third quarter of 2020, to EUR 9.8 million from EUR 14.0 million in the same quarter of last year (down 30.0%). This slump continues to be associated with a weakening in the refractory industry, which can in turn be attributed to a downturn in the European steel industry. Over the first nine months of 2020, revenues in this product segment amounted to EUR 33.8 million, compared to EUR 45.1 million in the same period of last year (down 25.1%). The intensified measures which have been taken all over the world in an effort to contain the coronavirus pandemic and the associated uncertainty, with the economic impact unforeseeable, are continuing to have a negative impact on Nabaltec's business. The current situation still does not allow for a new earnings forecast for Financial Year 2020. Moreover, as has already been announced, Nabaltec's financial statements will include a write-down in the amount of EUR 21 to 25 million on its US operations. Johannes Heckmann, stated as follows: "We remain optimistic despite the present conditions, particularly for 2021 and beyond. We are continuing to see strong performance in our promising boehmite product range, which continues to benefit from strong and steadily growing demand in the battery industry, and for electric mobility in particular. With the addition of new cell and separator capacity in Europe, the future outlook in this segment is bright. Despite the extraordinarily difficult conditions, Nabaltec is well-positioned for the current situation and is in very robust condition." Note: Nabaltec AG's quarterly report for the third quarter of 2020 will be available for download as of 26 November 2020 in the Investor Relations section of www.nabaltec.de/en. 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. Contact: Heidi Wiendl-Schneller Frank Ostermair/Vera Müller Nabaltec AG Better Orange IR & HV AG Phone: [phone] Phone: [phone] Fax: [phone] Fax: [phone] E-mail: [e-mail]       E-mail: [e-mail] 26.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:	English
Company:	Nabaltec AG
	Alustraße 50-52
	92421 Schwandorf
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.nabaltec.de
ISIN:	DE000A0KPPR7, DE000A1EWL99
WKN:	A0KPPR, A1EWL9
Indices:	Scale 30
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1150727

End of News	DGAP News Service

1150727  26.11.2020