Weimar, 12 February 2021 - IBU-tec advanced materials AG ("IBU-tec", ISIN: DE000A0XYHT5) has closed the 2020 financial year according to preliminary, unaudited figures in line with its forecast. The main factors influencing the course of the year were the Covid-19 pandemic and the production interruptions lasting several months as a result of the fire at the Group subsidiary BNT Chemicals. Sales according to HGB accounting amounted to EUR 33.0 million compared to EUR 48.5 million in the same period of the previous year. With increased delivery capacity for chemical catalysts after the remediation of the consequences of the fire, sales of EUR 18.7 million were already achieved again in the second half of 2020, compared to EUR 14.3 million in the first half of the financial year. The EBITDA according to HGB 2020 of EUR 7.0 million, was almost at the level of the previous year of EUR 7.1 million. The 2020 EBITDA includes a positive one-off contribution to earnings of around EUR 4.7 million, as a result of insurance payments in connection with the fire damage at BNT Chemicals and the resulting additional expenses as well as other special items.
IBU-tec also made important strategic decisions in the past financial year. With regard to the growth area of battery materials, IBU-tec created the basis for its own product for use in LFP battery cells, which will be marketed internationally from autumn 2021. IBU-tec has already been able to win well-known customers for the product and has been recording a further increase in demand momentum, especially in recent weeks. In the glass coating segment, IBU-tec has initiated a significant expansion of production capacities following the market exit of an important competitor and on the basis of further development of its own technology.
Following the expected development of the past financial year and on the basis of the concrete growth potential, the management board confirms the targets for the current financial year. Turnover is expected to increase significantly to between EUR 37 and 39 million in 2021 and the EBITDA margin is expected to be between 17 and 19 percent. This already takes into account the currently foreseeable effects of the Covid-19 pandemic and does not include any positive one-off effects, as was the case in the previous financial year.
Driven by battery products, glass coating, but also the service and recycling business as well as new and existing specialty chemical products, IBU-tec expects consolidated sales of EUR 80 to more than 100 million by 2025. In the core segment of battery materials, sales are even expected to increase tenfold compared to last year and contribute 25 to 30 percent to total Group revenues.
Ulrich Weitz, CEO of IBU-tec: "With the 2020 financial year, we have created an excellent basis for our foreseeable further growth, despite the difficult conditions caused by the Covid-19 pandemic and the consequences of the fire at BNT Chemicals. Thus, we are satisfied with this year' s overall performance and are now working hard to implement our strategy, which will take our company into a whole new dimension in terms of sales and earnings. Battery materials for electromobility and stationary energy storage are the most important drivers here, which shows, among other things, the high demand interest for our own product, before we even offer it on the market."
The IBU-tec Group develops and produces innovative materials of the highest quality for the industry. It combines unique, partly patent-protected thermal process engineering, with the process and material know-how of around 250 highly qualified employees. The products are important components of battery materials for electric mobility and stationary energy storage, as well as solutions for air purification, resource conservation or the reduction of plastic packaging. IBU-tec is thus in a long-term position to respond to global megatrends, especially in the fields of climate and environmental protection. It has an international customer base ranging from innovative medium-sized companies to global corporations.
Further information can be found online at www.ibu-tec.de.
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