Nabaltec AG of Germany says that it resumed its long-term growth trend in the fourth quarter of 2020 as its consolidated revenues rose 7.7% from the previous year to €40.7 million (US$48.7 million). With revenues down in the first three quarters of the year, the total for the year was still down 10.8% from 2019 at €159.6 million (US$191.0 million).
Joahannes Heckmann, Nabaltec’s CEO, said, “2020 was an extraordinary year in every respect. The pandemic brought an enormous slump in sales in the first half of the year and we had to act quickly to cut costs, which we largely succeeded in doing very effectively. For our subsidiary, Nashtec in the U.S. the lower utilization and expectations of a slower recovery led to an impairment, resulting in extraordinary write-downs on the book value of property, plant and equipment.”
Revenues in Nabaltec’s Functional Fillers product segment were €114.2 million (US$136.7 million) in 2020, compared with €122.2 million (US$146.3 million) in the prior year. The decline in revenues is primarily attributable to the worsening in market conditions as a result of the pandemic.
Revenues in Nabaltec’s Specialty Alumina product segment fell to €45.4 million (US$54.4 million) in 2020, down 20.1% from the past year. The decrease is due to the general weakening in the refractory industry, resulting in lower demand and prices.
Volume 35, Issue 05