Nabaltec Sees 5.3% Revenue Increase in First Nine Months of 2015; Strong Growth Seen in Technical Ceramics
Nabaltec AG posted $122 million in revenues in the first nine months of 2015, up 5.3% from the prior year, when it posted a value of $115.9 million. The company also reported a strong gain in operating profit (EBIT), which was up 12.5% to approximately $12.3 million. In general, the company was able to maintain its strong revenue growth in the third quarter, exceeding the comparison value from the year before.
Consolidated revenues were up 3.0% in the third quarter of 2015, to approximately $39.7 million from $38.6 million in the same quarter of last year. Typical seasonality had an impact, causing revenues to fall by 3.6% relative to the second quarter of 2015, when revenues were $41.2 million.
Consolidated EBIT amounted to approximately $12.3 million in the reporting period, compared to $11 million in the first nine months of 2014. The EBIT margin (EBIT as a percentage of total performance) amounted to 10.2% in the first nine months of 2015, up from 9.6% in the same period of last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to $20.3 million in the first three quarters, up 9.1% from the value of $18.6 million in the same period of last year. Earnings per share were up by 13.6%, to $0.70 from $0.62 in the first nine months of 2014.
Revenues in the Functional Fillers business division amounted to $26.2 million in the third quarter of 2015, in line with the result for the same quarter of last year, which was $26.3 million. Revenues were down 7.5% from last quarter’s result of $28.3 million, a decrease that was attributable to the fact that August sales have traditionally been weaker.
Revenue growth in the Technical Ceramics business division was in line with estimates and increased again. Specifically, revenues were up 9.4%, to $13.5 million from approximately $12.3 million in the third quarter of 2014, and revenues were up 4.9% relative to the revenues posted in the second quarter of 2015, $12.9 million.
“We can be satisfied with these results, which are further demonstration of our stable performance and strong growth,” said Gerhard Witzany, member of the board. “The general market situation was stable: the pace of growth in the business division Functional Fillers was slowed somewhat because results in August fell short of expectations, but the business division Technical Ceramics posted disproportionately high revenue growth. And we continue to see potential in all of our target markets for the future.”
Nabaltec has confirmed its previous forecast for the current year, which calls for revenue growth in the mid-single digits. Nabaltec raised its 2015 EBIT forecast in the second quarter of 2015. Before, the company had projected an EBIT margin for 2015 in line with last year's margin, in the amount of 8.9%. As things stand, Nabaltec expects an EBIT margin of around 10% for 2015.
For more information, visit www.nabaltec.de.