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Nabaltec Revenues up 23,1% in the First Nine Months of 2011

Consolidated revenues were up by 7,7 % in the third quarter, increasing from EUR 28,4 million to EUR 30,6 million. Revenues in the first nine months of 2011 were up by 23,1 % over the same period of last year, climbing from EUR 81,8 million to EUR 100,7 million.
Both business divisions posted growth over the same period of last year, with revenues in the Functional Fillers division up 2,7 % in the third quarter and revenues in the Technical Ceramics division up 17,3 %. Over the first nine months of the year, revenues in the Functional Fillers division came to EUR 66,7 million, up 21,7 % from the first nine months of 2010, when revenues were EUR 54,8 million. This growth, which was especially strong in the first six months of the year, was driven above all by the growth in fine precipitated hydroxides, i. e. eco-friendly flame retardant fillers, e. g. for the wire and cable industry. Revenues in the Technical Ceramics division continued to grow, increasing by EUR 7 million in the same period of last year to EUR 34 million in the first nine months of 2011. The development in net financial income was mainly affected by the EUR 30 million corporate bond issue, which was launched in October 2010 with a coupon rate of 6,50 %. Weighed down by the interest expenses in connection with this bond issue, net financial income in the first nine months of 2011 changed from EUR –3,2 million to EUR –4,9 million. At the same time, Nabaltec was able to restructure a substantial portion of its existing long-term bank debt in the third quarter of 2011. The terms represent a clear improvement over the previous loan contracts.
Earnings before taxes (EBT) improved considerably, from EUR 2 million to EUR 6,2 million. Nabaltec expects revenues for 2011 as a whole to grow into the range of EUR 128-131 million. As a result, the earnings target for 2011 (based on EBIT) of EUR 12 million appears highly ambitious, but still achievable (11/2011).


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