Nabaltec (NTG) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue rose 1.2% year-over-year to EUR 54.7 million, driven by higher sales volumes and resilience in US operations, but offset by lower average sales prices and challenges in e-mobility and steel sectors.

• EBIT declined 18.0% year-over-year to EUR 4.1 million, with margin at 7.5%, impacted by weak specialty aluminas demand and high energy costs.

• EPS fell 20.5% year-over-year to EUR 0.31.

• Fine hydroxides were the main growth driver, especially in flame retardant plastics and cable markets.

• Net debt improved to EUR -2.2 million as of March 31, 2025.

Financial highlights

• Gross profit margin decreased to 49.4% from 50.7% year-over-year.

• EBITDA margin dropped to 12.6% from 14.9% year-over-year; EBITDA declined 13.2% to EUR 7.0 million.

• Free cash flow for Q1 2025 was EUR 7.4 million, down from EUR 26.6 million a year earlier.

• Cash and cash equivalents at period end were EUR 93.7 million.

• Net income after taxes was EUR 2.8 million, down 18.8% year-over-year.

Outlook and guidance

• Revenue growth for 2025 expected in the range of 3% to 5% over 2024, with EBIT margin forecasted between 7% and 9%.

• Price increases and declining energy costs are expected to support results from Q2 onward.

• Fine hydroxides will remain the key product driver; Specialty Aluminas expected to remain at a low level.

• Outlook assumes stable economic and industry conditions, but notes high volatility and risks from inflation, trade barriers, and geopolitical uncertainties.