Nabaltec Ag · XETR:NTG
Nabaltec — Investor Presentation (November 2023)
24 slides from Nabaltec's investor presentation, Nov 23, 2023
Slide 1: Nabaltec: a leading supplier of eco-friendly flame retardant fillers and specialty alumina
Nabaltec: a leading supplier of eco-friendly flame retardant fillers and specialty alumina 1
Slide 2: Nabaltec at a glance
REVENUES 2022 EBIT 2022 SECTOR CHEMICAL EUR 218.8 MILLION EUR 29.2 MILLION INDUSTRY EMPLOYEES 2022 PRODUCTION EXPORT- SITES RATIO 2022 506 3 73.7% ABOUT 800 CUSTOMERS IN BUSINESS SINCE ANNUAL CAPACITY APPROX. ABOUT 50 REPRESENTATIVE OFFICES 1937 265,000 t 2 2
Slide 3: Group locations
Nabaltec AG Schwandorf, GERMANY Head Office Naprotec LLC Chattanooga, USA Manufacturing Shanghai USA Nabaltec (Shanghai) Trading Co., Ltd. Nabaltec USA Corporation Nashtec LLC Shanghai, CHINA Corpus Christi, USA Corpus Christi, USA Manufacturing Sales & Marketing Administration & Sales 3 3
Slide 4: Global presence and revenue by region
With its own sales companies and a network of international agencies, Nabaltec maintains a global presence. 26.3% GERMANY 13.8% USA 46.8% EUROPA 13.1% (WITHOUT REST OF THE WORLD GERMANY) 4 4
Slide 5: Product segments: Functional Fillers and Specialty Alumina
Functional Fillers Specialty Alumina Product segments 2022 revenues: EUR 148.0 million 2022 revenues: EUR 70.9 million Product range Aluminum hydroxides Boehmites Aluminum oxides Ceramic bodies Resistant to wear and tear, electrically Eco-friendly, smoke-reducing, insulating, resistant to corrosion,
Slide 6: Functional Fillers applications: Rubber & Elastomers, wire & cable
Rubber & Elastomers Application examples: Others ▪ HV-/MV-/LV-cables ▪ Data cables 7% ▪ Automotive cables 8% ▪ Wind turbine and PV cables Battery ▪ E-vehicle charging cables Wire & Cable ▪ Separator films 13% ▪ Electronic housings and switches 56% ▪ Printed circuit boards ▪ Adhesives 16% ▪ Tires ▪ V
Slide 7: Market volume: aluminum hydroxides for flame retardants
Oligopolistic competitive environment* Market volume: aluminum hydroxides for flame retardants in thousand tons KC Corporation Huber Eng. Materials 1,084 994 1,037 915 953 844 878 INOTAL Eti Alüminyum Market drivers: aluminum hydroxide** ▪ Increasing fire safety requirements in connection with reduc
Slide 8: Innovative products in lithium-ion batteries
Innovative products in lithium-ion batteries (NMC, NMx, LFP) Coating Electrode coating Thermal management Separator film „Edge Coating“ Adhesives/GAP filler boehmite boehmite viscosity optimized hydrates Film manufacturer Cell manufacturer Adhesive manufacturer 56 t/GWh 25 t/GWh 80 t/GWh ▪ Increase
Slide 9: Boehmite and viscosity optimized hydrates – market environment
Innovative products in lithium-ion batteries (NMC, NMx, LFP) Revenues Worldwide battery demand electro mobility Boehmite/Viscosity optimized hydrates Battery demand e-mobility in GWh* Battery demand by region in % in EUR million 0.7 * Source: Avicenne Energy 06/2023 24.2 2,790 3.1 11 9 8 19.0 16.0 3
Slide 10: Market volume of ceramic coatings in e-mobility
Innovative products in lithium-ion batteries (NMC, NMx, LFP) Oligopolistic competitive environment for boehmite Market volume of ceramic coatings in e-mobility KC Corporation in thousand tons* Estone 158 Sinocera Putailai 134 109 85 Electromobility as a market driver 49 31 40 ▪ Climate protection –
Slide 11: Specialty Alumina applications
Adsorbents & Catalysts Polishing Application examples: 5% ▪ Furnace linings 7% ▪ Wear and tear protection Others Refractory ▪ Ballistic ceramics 11% ▪ Seals 43% ▪ High-voltage insulators ▪ Catalysts ▪ Ceramic filters ▪ Polishing materials Technical Ceramics 34% ▪ Ignition plugs ▪ Grinding media 11 1
Slide 12: Target market for specialty alumina in Europe
Outlook Nabaltec target market Oligopolistic competitive environment* for specialty alumina in Europe* in thousand tons Almatis Huber Eng. 1,146 Materials 1,102 980 1,018 1,059 911 944 ALTEO Silkem Market drivers: specialty aluminas ▪ Growing demand for technical ceramics in transportation as well a
Slide 13: Global presence and competitive strengths
Cost-effective Capital-intensive energy supply Global presence Consistent High quality & innovation reliable level delivery Focus on core competencies Oligopolistic com- Technical petitive environment know-how 13 13
Slide 14: Revenues 2012 to 9M/2023
in EUR million 218.8 187.0 176.7 179.0 168.6 159.2 159.6 155.8 151.3 143.3 129.2 132.9 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 9M/2023 CAGR 2012 to 2022 = 5.4% 14 14
Slide 15: EBIT and EBIT margin
29.2 24.6** 18.3 18.5 18.6 EBIT in 14.5 EUR million 12.7 12.2 13.1 13.1 13.1 10.0 10.5 10.2 10.8 10.4 8.9 9.5 8.4 7.7 7.8 7.7 EBIT margin in % 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 9M/2023 -10.2 -15.9* * 2020: thereof non-recurring effects in the amount of EUR -25.3 million; ** 2021
Slide 16: Operating cash flow and free cash flow
in EUR million 33.2 32.4 26.5 26.1 25.9 24.3 21.5 20.9 22.3 20.1 Operating 16.1 14.0 14.8 12.9 cash flow 2.0 2.3 10.9 10.3 10.9 7.0 9.1 6.7 6.6 Free 9M/ cash flow 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 -2.6 -6.7 -8.2 -10.6 -11.0 -10.3 Cash flow -10.0 -13.1 investment -17.0 -20.0
Slide 17: Q3 and 9M 2023 results
in EUR million Q3/2023 Q3/2022 change 9M/2023 9M/2022 change Revenues 49.8 56.5 -11.9% 155.8 167.2 -6.8% Functional Fillers 35.6 37.9 -6.1% 109.9 113.4 -3.1% Specialty Alumina 14.1 18.5 -23.8% 46.0 53.8 -14.5% EBITDA 7.8 11.3 -31.0% 22.7 33.5 -32.2% EBIT 4.6 8.0 -42.5% 13.1 23.7 -44.7% ▪ Revenues in
Slide 18: Balance sheet as of 30 September 2023
in EUR million 09/30/2023 12/31/2022 change Total assets 283.9 281.1 1.0% Non-current assets 119.1 135.3 -12.0% thereof property, plant and equipment 117.4 118.8 -1.2% Current assets 164.8 145.8 13.0% thereof cash and cash equivalents 91.4 87.5 4.5% Equity 136.6 133.5 2.3% Non-current liabilities 12
Slide 19: Cash flow 9M/2023
in EUR million 9M/2023 9M/2022 change Cash flow from operating activities 14.8 29.0 -49.0% Cash flow from investing activities -8.2 -22.6 -63.7% Free cash flow 6.6 6.4 3.1% Cash flow from financing activities -2.8 28.1 – ▪ The cash flow for investments increased on a comparable basis from EUR 7.6 mi
Slide 20: Outlook 2023
▪ Nabaltec expects a year-on-year decline in revenues in a range of 4% to 6%. On the earnings side, Nabaltec expects an EBIT margin in a range of 6% to 8%. Previously Nabaltec had expected revenue growth in a range of 3% to 5% for 2023 and an EBIT margin in a range of 8% to 10%. ▪ The forecast is ba
Slide 21: Nabaltec share and shareholder structure
▪ ISIN: DE000A0KPPR7 ▪ 2022 trading volume: average of 2,996 shares per day (2021: 3,059 shares)* Baader Bank: ▪ Buy, price target EUR 31.00 Euro (10/2023) NuWays: ▪ Buy, price target EUR 31.00 (10/2023) Shareholder structure: ▪ 28.22% Heckmann family ▪ 27.17% Witzany family ▪ 44.61% Free float * Al
Slide 22: Financial calendar
23 November 2023 Publication Quarterly Financial Report (call-date Q3) 27 November 2023 Deutsches Eigenkapitalforum 25 April 2024 Publication Annual Financial Statements 23 May 2024 Publication Quarterly Financial Report (call-date Q1) 25 June 2024 Annual General Meeting 22 August 2024 Publication H
Slide 23: Nabaltec products make everyday life safer and eco-friendly
Nabaltec products make many aspects of everyday life safer, as well as being eco-friendly and thereby an irreplaceable part of your daily routine. 23 23
Slide 24: Contact and disclaimer
Johannes Heckmann (CEO) Günther Spitzer (CFO) Nabaltec AG Alustraße 50 - 52 92421 Schwandorf Germany Phone: +49 9431 53-202 Fax: +49 9431 53-260 E-Mail: InvestorRelations@nabaltec.de Rounding Due to computational reasons, rounding differences may appear in the percentages and figures in the tables,