Frankfurt – June 29, 2009 - Nanostart AG, the Frankfurt-based nanotechnology investment company, has reported profits for 2008 which are the highest since the company was founded. The company’s annual net income according to German statutory accounting (HGB) was EUR 2.1 million, an increase of approx. 40 percent over the prior year level (2007: EUR 1.4m).
With these latest results, Nanostart AG continues to be profitable in every fiscal year since it began its operating activities. The company is also quickly pushing forward with its international expansion strategy. Toward this objective, a new 100%-owned subsidiary was established in Singapore, Nanostart Asia Pte Ltd, which will take responsibility for the Nanostart investment business throughout Asia.
The annual net income was for the most part attributable to the successful sale of investment holdings, resulting in a gain of approx. EUR 6 million (prior year: EUR 3.9m).
Nanostart AG also took advantage of its favorable position during 2008 to further expand its business activities. Over the past fiscal year, Nanostart made investments in three new portfolio companies: Holmenkol AG, based in Heimerdingen, Germany; Namos GmbH, based in Dresden, Germany; and Curiox Pte Ltd, based in Singapore. The investment agreements with Holmenkol and Curiox were completed at the end of 2007.
For the current fiscal year, company management plans to continue the targeted expansion of the investment portfolio, while also anticipating a further growth in the value potential of the existing portfolio. In particular, the company’s expansion within Asia opens the door to additional growth opportunities. Furthermore, the management of MagForce Nanotechnologies AG, a portfolio company majority owned by Nanostart, anticipates the successful completion of phase II clinical trials of its Nano-Cancer® therapy before the end of this year. The successful completion of these trials, awaited with excitement throughout the industry, will enable the company to apply for European regulatory approval, thus serving as a key value driver.
The 2008 financial statements will be available starting June 30, 2009, on the Nanostart website within the investor relations section. The annual report for 2008 (in German) will be published in August 2009.
Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the “Entry Standard” segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within the United States of America, Canada, Australia or Japan.
Transparency disclosure in accordance with Sec. 17 Par. 2 of the General Business Conditions for the Regulated Unofficial Market on the Frankfurt Stock Exchange.
