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Nabaltec AG achieves an EBIT margin of 9.1% in 2023 despite weak economic demand and expects slight growth in 2024

EQS-News: Nabaltec AG / Key word(s): Preliminary Results Nabaltec AG achieves an EBIT margin of 9.1% in 2023 despite weak economic demand and expects slight growth in 2024 05.03.2024 / 10:00 CET/CEST The issuer is solely responsible for the content of this announcement. Nabaltec AG achieves an EBIT margin of 9.1% in 2023 despite weak economic demand and expects slight growth in 2024

• Revenues of EUR 200.1 million in 2023 according to preliminary figures (2022: EUR 218.8 million)
• Preliminary operating profit (EBIT) of EUR 18.3 million; EBIT margin 9.1%
• Weak demand due to the economic situation having a particular impact on the chemical industry
• Outlook 2024: Revenues slightly above the previous year's level; EBIT margin in a range of 7% to 9%

Schwandorf, 5 March 2024 – Nabaltec earned revenues of EUR 200.1 million, according to 2023 preliminary figures, compared to EUR 218.8 million in the previous year (-8.5%). Despite the current weakness in the industry, which is particularly noticeable in the chemical sector, this represents the second-highest revenues in Nabaltec's history. According to preliminary figures, the operating profit (EBIT) was EUR 18.3 million, compared to EUR 29.2 million in 2022. The EBIT margin (EBIT as a percentage of total performance) was 9.1%. The revenue forecast adjusted in August 2023 with an expected decline in revenues of 4% to 6% was therefore not achieved. However, the forecast for the EBIT margin, which was also adjusted from the expected 6% to 8%, was exceeded.

"The mix of negative factors from the economy, sector trends and weak demand in our target markets made it impossible for us to achieve the targets we set at the beginning of 2023. Nevertheless, we performed well in a difficult environment," said Johannes Heckmann, CEO of Nabaltec AG. "In the medium term, we expect better momentum in the markets and then Nabaltec will be well positioned to benefit significantly from this."

According to preliminary figures, the company attained revenues in the "Functional Fillers" product segment of EUR 142.3 million in Financial Year 2023, compared to EUR 148.0 million in the previous year, corresponding to a decrease of 3.9%. In the boehmite product range, revenues in 2023 amounted to EUR 17.3 million, compared to EUR 19.0 million the year before. Boehmite's share in consolidated revenues was therefore around 9%, as in the previous year. In the "Specialty Alumina" product segment, Nabaltec earned revenues of EUR 57.8 million, according to 2023 preliminary figures, compared to EUR 70.9 million in the previous year (-18.5%). The continuing weakness of the steel industry is leaving clear marks here.