Nabaltec (NTG) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 increased by up to 2.2% year-over-year to as much as EUR 204.3 million, with EBIT rising to as high as EUR 22.3 million and EBIT margin improving to 10.8%.

• Net income rose to up to EUR 14.3 million, with EPS at EUR 1.62 and export ratio around 76.6%.

• Functional Fillers segment showed robust growth, while Specialty Alumina faced headwinds from weak steel and refractory markets.

• Net debt was low at EUR 4.3 million, with cash reserves of EUR 86.5 million and a solid equity ratio of up to 51.4%.

• Management considers the earnings and financial position satisfactory and stable.

Financial highlights

• Group EBIT for 2024 was up to EUR 22.3 million, with Q4 EBIT at EUR 5.4 million and EBIT margin up to 10.8%.

• Gross profit margin for 2024 was 51.8%, slightly above the previous year.

• EBITDA for 2024 reached up to EUR 34.2 million, with a margin of 16.5%.

• Earnings per share increased 24.6% to EUR 1.62; proposed dividend is EUR 0.29 per share.

• Free cash flow for 2024 was EUR 3.1 million after record investments of up to EUR 33.1 million.

Outlook and guidance

• 2025 revenue growth expected in the range of 3%-5%, with EBIT margin guidance of 7%-9%.

• Q1 2025 preliminary revenue at up to EUR 54.7 million, with EBIT margin at 7.5%.

• Demand for fine and viscosity optimized hydroxides remains strong, while Specialty Alumina continues to decline.

• Higher energy and personnel costs anticipated due to expired gas contracts and union wage increases.

• Demand in 2025 anticipated to remain volatile and short-term oriented.