Market Cap€323m

Last Close €36.7

Nabaltec develops, manufactures and distributes environmentally friendly, specialised products based primarily on aluminium hydroxide and aluminium oxide. It is one of the world’s leading suppliers of functional fillers for flame retardants.

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Investment summary

Nabaltec’s H121 results show that the recovery that commenced in Q420 has been sustained. Revenues were only 2% behind pre-pandemic levels in Q221, resulting in a record EBIT margin. Management has raised FY21 guidance. Performance at the upper end could potentially result in record revenues this year. Guidance is supported by strong demand for boehmite, which is used in electric vehicle (EV) batteries, as management expects its sales of this material (10% of FY20 sales) to jump by around 50% in FY21.

Content on Nabaltec
Nabaltec – Getting back to pre-pandemic performance
Industrials | Update | 31 August 2021
Nabaltec – Recovery underway
Industrials | Update | 7 May 2021
Nabaltec – Still profitable despite difficult environment
Industrials | Update | 7 September 2020
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Share price graph
Price performance
Actual 1.9 15.4 51.7
Relative* 0.9 14.4 35.2
52-week high/low €37.8/€23.4
*% relative to local index
Key management
Johannes Heckmann Chairman & CEO
Günther Spitzer CFO