- Sales of ceramic filters more than doubled
- Potential positive earnings in current financial year
- Further remarkable earnings increases projected
Saarbrucken / Frankfurt – April 23, 2010 – Nanostart-holding ItN Nanovation AG (ISIN DE000A0JL461) is quite pleased with financial year 2009. Significant improvement could be seen in the repositioning and restructuring of the company. At the same time, important strategic measures were taken to ensure the long-term profitable growth of the company and make 2010 the highest selling year in its history.
Much better earnings are expected for 2010, principally due to marketing success and joint ventures in the area of ceramic flat membrane (CFM) systems. These have even made it possible that ItN Nanovation might report positive earnings in the current financial year – for the first time in the company’s history.
Sales in financial year 2009 were EUR 4.5 million, after EUR 6.3 million in the prior year. Nonetheless, the previous year benefitted from a significant one-time boost in sales from a large order in the Nanocat segment, which has since been sold off. The ceramic filter segment was able to report considerably higher sales, rising from EUR 0.7 million in 2008 to EUR 1.8 million in the last financial year.
In spite of additional restructuring expenses totalling EUR 0.9 million, in financial year 2009 the company managed to reduce its operating costs (adjusted for these restructuring expenses) by a total of EUR 7.1 million. The main savings occurred in personnel and operating expenses, which were cut by EUR 6.3 million together, and this despite the fact that savings programmes did not begin until the year was underway. Therefore, earnings from usual business activities, and the net loss, improved from EUR -11.5 million to EUR -6.1 million.
The company’s equity ratio had increased to 54.6 percent as at December 31, 2009, compared to 48.3 percent in the prior year. The free liquidity not pledged to secure loans increased by EUR 414,000 to EUR 869,000. In addition, ItN Nanovation’s liquidity was boosted through a capital increase after the reporting period.
About Nanostart:
Nanostart AG is the world’s leading nanotechnology investment company. The Frankfurt-based company provides venture capital financing for nanotechnology companies in various growth phases. It also provides the benefits of its experience and expertise to developers of financial instruments and to investors in the nanotechnology sector. For further information about the company, please visit www.nanostart.de.
About ItN Nanovation:
ItN Nanovation AG, founded in 2000, is one of the leading nanotechnology companies in the world, developing innovative ceramic products, such as filtration systems and coatings, for large industrial customers. The nanoscale powder needed for those products is manufactured by the company itself. The filtration products from ItN Nanovation can be used for drinking water purification, waste water treatment, as beverage filters and for the separation of oil and water. Ceramic coatings based on nanotechnology are used in a variety of ways as protective and catalytic coatings in various industries: from baking ovens to aluminum foundries to coal-fired power plants. The company's success is founded on an extensive product portfolio, combined with comprehensive development and application know-how. For further information about the company, please visit www.itn-nanovation.de.
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.
Media contact:
Nanostart AG
Public Relations
Dr. Hans Joachim Dürr
Goethestrasse 26-28
D-60313 Frankfurt
Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 122
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