Nabaltec AG Holds at Last Year's Level in the Third Quarter of 2012

2012-11-28

- Revenues of EUR 100.4 million in the first three quarters of 2012 nearly reach last year's level
- Target for 2012: EBIT margin of between 7% and last year's figure; slight growth in revenues
- Company stays upbeat about long-term perspectives
Nov.27, 2012 - Nabaltec AG today published its interim report 3/2012, confirming the preliminary results. With revenues of EUR 32.1 million, the company in the third quarter of 2012 posted a gain of 4.9% over last year's figure. With aggregate revenues of EUR 100.4 million over the nine months, the figure of EUR 100.7 million from the same period of last year was nearly matched. Gerhard Witzany, Member of the Board of Nabaltec AG: "Even though we managed to stay at last year's level, this performance did not fully meet our expectations. We had predicted a much more dynamic trend for the second half - both in the market as a whole and for Nabaltec. While we were right when we predicted a stronger market for the second half of 2012 than in 2011, the current economic situation is generally impeding the intact market drivers."
At EUR 8.9 million on aggregate over nine months, EBIT was down from EUR 11.0 million in the same period from last year. The EBIT margin (EBIT as a percentage of total performance) in the reporting period (9.0%) did not reach the level from the same period last year (10.6%). At EUR 15.4 million after three quarters, earnings before interest, taxes and amortization (EBITDA) fell below the result from the same period last year of EUR 17.0 million.
Net cash flow from operating activities improved from EUR 13.1 million to EUR 19.9 million after nine months. The net cash outflow for investments decreased from EUR 10.6 million to EUR 8.9 million. The cash flow from financing activities was influenced by amortization payments on loans and interest payments. No new loans were taken out. The cash flow from financing activities amounted to EUR -7.8 million in the reporting period after a nearly balanced figure in the same period last year.
Nabaltec has adjusted the estimates for the further course of the current financial year based on the current economic slowdown. For earnings, Nabaltec is predicting in the fourth quarter of 2012 an EBIT margin ranging between 7% and last year's figure for the year as a whole. For consolidated revenues, it foresees a slight gain over last year's level. 
Gerhard Witzany, Member of the Board of Nabaltec AG: "Considering the macroeconomic environment, it is essential to navigate the next few months with a certain degree of caution. We remain positive for the long term - both for our markets in general and for the development of Nabaltec in particular."