Nabaltec AG, a German manufacturer of specialty chemicals and flame-retardant fillers, reported a 6.9% year-over-year revenue increase to EUR 55.3 million in the second quarter of 2026, while operating profit declined 19.3% to EUR 3.8 million as margins contracted.
The company’s EBIT margin slipped to 7.2% from 9.3% in the prior-year quarter, reflecting what management described as ongoing demand volatility and short-termism in customer ordering patterns. Earnings per share fell 17.1% to EUR 0.29, down from EUR 0.35 a year earlier. Net debt improved to EUR 3.9 million as of June 30, 2026, from EUR 18.5 million at the end of 2025.
For the first half of 2026, revenues rose 1.9% to EUR 108.6 million, but EBIT dropped 26.1% to EUR 6.6 million, with the EBIT margin contracting to 6.2% from 8.4% in the same period of 2025. Gross profit margin declined to 50.8% from 52.4%, while EBITDA margin fell to 13.1% from 13.7%. Net income decreased 25.8% to EUR 4.4 million, and earnings per share were EUR 0.50, down from EUR 0.67.
Cash and cash equivalents increased 25.7% to EUR 90.9 million, partly due to the reclassification of a EUR 15 million fixed-term deposit. Total assets grew 3.9% to EUR 312.3 million, while inventories fell EUR 10.7 million to EUR 40.2 million. The equity ratio stood at 51.5%, down from 52.6% at year-end 2025.
Nabaltec’s functional fillers segment, which accounted for 72% of 2025 revenue, generated EUR 40.7 million in Q2 2026, up 6.7% year-over-year. Segment EBIT declined 30.4% to EUR 3.2 million, with the margin contracting to 7.9% from 12.1%. Viscosity-optimized hydroxides revenue surged 45.9% year-over-year, according to the company. Capital expenditures in the segment totaled EUR 5.3 million, down 34.6% from the prior year.
The specialty aluminas segment, representing 28% of 2025 revenue, posted Q2 2026 revenue of EUR 14.6 million, a 7.4% year-over-year increase. Segment EBIT improved to EUR 0.6 million from EUR 0.1 million a year earlier and a loss of EUR 0.3 million in Q1 2026. Capital expenditures in the segment were EUR 0.4 million.
Management maintained guidance for full-year 2026 revenue growth of 4% to 6% compared with 2025’s EUR 197.0 million, with an EBIT margin projected at 5% to 7%. The order backlog stood at EUR 52.2 million as of June 30, 2026, primarily for delivery in the second half of the year.
Nabaltec’s shares traded at EUR 1.39, down 0.71% on the day, with a 52-week range of EUR 0.70 to EUR 2.34.
