Nabaltec AG Confirms Growth Path Despite Challenges

Nabaltec AG has reported first-half 2026 figures, affirming its return to growth in the second quarter. The company experienced a 6.9% year-on-year sales increase in Q2, amounting to €55.3 million, driven primarily by volume growth. However, the quarter saw higher energy costs and increased depreciation, which affected EBIT margins, now standing at 7.2% for Q2, and 6.2% for the first half.

Despite these challenges, the balance sheet remains robust. The operating cash flow rose slightly to €21.7 million, counterbalancing weaker results. Free cash flow remained positive at €7.1 million, maintaining net debt at a low €3.9 million.

Future prospects appear promising with a strong order backlog and continued momentum in key product segments like viscosity optimized hydrates, supported by growing demand from data centres. Nabaltec sustains its BUY rating with an unchanged target price of €16, highlighting untapped revenue potential.