PRESS RELEASE : Nabaltec AG back on track, reporting growth in the fourth quarter of 2020

DGAP-News: Nabaltec AG / Key word(s): Preliminary Results 
Nabaltec AG back on track, reporting growth in the fourth quarter of 2020 
2021-02-25 / 10:00 
The issuer is solely responsible for the content of this announcement. 
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Nabaltec AG back on track, reporting growth in the fourth quarter of 2020 
  . 2020 revenues: EUR 159.6 million according to preliminary data (2019: EUR 179.0 million) 
  . Revenues up 7.7% in the fourth quarter of 2020, to EUR 40.7 million (fourth quarter of 2019: EUR 37.8 million) 
  . Preliminary EBIT at EUR -15.9 million due to non-recurring effects (2019: EUR 18.6 million); adjusted EBIT: EUR 9.4 
    million 
  . Outlook for 2021: revenue growth in a range from 6% to 9%, EBIT margin in a range from 8% to 10% 
Schwandorf, 25 February 2021 - Nabaltec AG was able to resume its long-term growth trend in the fourth quarter, with 
revenues up 7.7% to EUR 40.7 million according to preliminary data. Results in the first three quarters of 2020 were 
heavily affected by the coronavirus pandemic, and revenues were down in each of those quarters. As a result, 2020 
consolidated revenues were down 10.8% from the year before, to EUR 159.6 million. According to preliminary data, 
earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 23.6 million in 2020, compared 
to EUR 32.3 million in the previous year (down 26.9%). Nabaltec AG reported preliminary EBIT of EUR -15.9 million in 
its 2020 financial statements, down from EUR 18.6 million the year before. This figure includes a EUR 23.7 million 
write-down on the book value of property, plant and equipment for Nashtec in the US, as well as other non-recurring 
effects amounting to EUR 1.6 million. The non-recurring effects had no impact on the company's liquidity. 
"2020 was an extraordinary year in every respect. The pandemic brought an enormous slump in sales in the first half of 
the year and we had to act quickly to cut costs, which we largely succeeded in doing very effectively," reported 
Johannes Heckmann, Nabaltec AG's CEO. "For our subsidiary Nashtec in the US, the lower utilization and expectations of 
a slower recovery led to an impairment, resulting in extraordinary write-downs on the book value of property, plant and 
equipment. There were also non-recurring effects in 2020 due to our strategic decision to discontinue mullite 
production in the 'Specialty Alumina' product segment at the Schwandorf site. Adjusting for these non-recurring 
effects, we were able to post EBIT of EUR 9.4 million according to preliminary data, with an adjusted EBIT margin (EBIT 
as a percentage of total performance) of 6.0%. In light of the pandemic, we are highly satisfied with this result." 
The negative non-recurring effects from write-downs and impairments weighed down earnings by a total of EUR 25.3 
million. Aside from EBIT, these measures also affected net income as well as the assets reported in the consolidated 
balance sheet. In light of the uncertainty associated with the coronavirus pandemic and earnings performance, Nabaltec 
AG is not planning a dividend payout for Financial Year 2020. Johannes Heckmann: "In light of the fact that the future 
course of the pandemic is unforeseeable, strengthening the company's resilience is our top priority. We therefore 
consider it advisable not to burden the company's liquidity position with a dividend payment at this time. However, we 
expect to be able to resume our longstanding dividend policy in the future." 
The "Functional Fillers" product segment reported EUR 114.2 million in revenues in 2020 according to preliminary data, 
down from EUR 122.2 million the year before. The drop in revenues is primarily attributable to the worsening in market 
conditions as a result of the pandemic, as well as increased price pressure. The still relatively new boehmite product 
range once again posted strong performance, with revenues for the year up 48.1% over the year before despite the 
general market slump. This product range now accounts for around 10% of total revenues (previous year: 6%). 
Revenues in the "Specialty Alumina" product segment came to EUR 45.4 million in the past year, according to preliminary 
data, down 20.1% from the year before. This decrease is due to the general weakening in the refractory industry, 
resulting in lower demand and prices. 
Sales improved at the start of 2021, resulting in a high utilization ratio for Nabaltec. However, incoming orders still 
tend to be short-term in nature, reflecting the current uncertainty in the market. In the US, Nabaltec expects 
Nashtec's production to slowly normalize over the medium term. The launch of Naprotec's products was delayed because of 
the COVID-19 pandemic, and the originally expected revenues will not be realized until a later date due to delays in 
customer approval procedures. Because of the current situation, it will take longer than expected to build the market. 
"The environment remains highly uncertain and the resulting price pressure will continue in the current year as well. 
Nevertheless, results in the fourth quarter of 2020 have set the course, demonstrating that our markets are essentially 
intact," said Johannes Heckmann. "We currently expect revenue growth in a range from 6% to 9% in the current year, with 
an EBIT margin in a range from 8% to 10%, assuming strong economic and industry performance. We expect to be posting 
record highs once again by 2022 at the latest." 
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] ----------------------------------------------------------------------------------------------------------------------- 

2021-02-25 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:  1170946 
 
End of News   DGAP News Service 
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1170946 2021-02-25

(END) Dow Jones Newswires

February 25, 2021 04:01 ET (09:01 GMT)