DGAP-News: Nanostart AG publishes numbers for fiscal year 2011
(firmenpresse) - DGAP-News: Nanostart AG / Key word(s): Miscellaneous
Nanostart AG publishes numbers for fiscal year 2011
08.06.2012 / 06:00
---------------------------------------------------------------------
- Annual net income: 2.18 million euros
- Equity ratio of 90 percent
- Financial assets increase to 38 million euros
Transparency report in accordance with§17 Sect. 2 of commercial code for
the OTC market.
Frankfurt am Main - June 8, 2012 - In accordance with commercial code,
nanotechnology venture capital company Nanostart AG in Frankfurt reports an
annual net income of 2.18 million euros for fiscal year 2011 (previous
year: 2.49 million euros). This result is equivalent to 0.37 euros per
share. Nanostart AG has thus completed yet another fiscal year with a
profit and has remained profitable since launch of operational business
activities.
Earnings resulted primarily from ex-pit reallocation of company shares from
the holding MagForce AG to strategic financial investors. This provided a
net profit (including asset value deduction) of 3.32 million euros.
Additional positive contribution to operating income was delivered by
earnings from loans of financial assets as well as interest and similar
earnings in a total amount of nearly 1.27 million euros (previous year:
1.15 million euros). This can be attributed to an increase in loans to
affiliated companies in the past fiscal year from 15.83 million to 18.12
million euros. This specifically includes loans to MagForce AG, which have
been provided as additional financing for the company since autumn 2011.
These loans include a subordination clause.
Alongside earnings, expenditures totaled 2.81 million euros. These
consisted primarily of miscellaneous operational expenses in the amount of
1.64 million euros (previous year: 1.50 million euros), personnel costs of
0.57 million euros (previous year: 0.64 million euros) as well as interest
and similar expenses in the amount of 0.14 million euros (previous year:
0.35 million euros). Miscellaneous operational expenses specifically
include expenses for legal and consulting services in the amount of 0.46
million euros.
In fiscal year 2011, depreciation of financial assets in the amount of 0.18
million euros (previous year 0.71 million euros) was also applied. This
includes only accumulated depreciation on the amount of outstanding
receivables from BioMicro Systems. In addition to amortization are earnings
from holdings in the amount of 0.15 million euros.
Total assets increased by 4.0 million euros to nearly 42 million euros in
2011. This resulted particularly from an increase in financial assets and
an increase in receivables from affiliated companies. The equity capital of
Nanostart AG increased by the amount of net profit from the previous year
(2.49 million euros). There was also an increase in obligations of nearly
1.9 million euros in 2011 from 2.45 million to 4.33 million euros.
Specifically, there was an increase in obligations to credit institutions
from 1.35 million to 3.51 million euros, with a remaining time to maturity
of up to one year. There was an equity ratio of 90 percent (previous year:
92 percent) on the date of the financial statement.
Nanostart AG net asset value totaled nearly 27 million euros on December
31, 2011 (previous year: 70 million euros). Reason for the decrease
compared to 2010 was the decreased value of shares in the largest holding
MagForce AG due tomarket declines. The downturns are due to delays in the
market introduction of NanoTherm therapy. Net asset value consists of the
market value of shares of publicly traded holdings on the financial
statement date as well as the acquisition costs of non-publicly traded
holdings minus write-offs. Total financial assets of Nanostart AG on the
date of the financial statement amounted to a value of 38.2 million euros
(previous year: 36.7 million euros).
In the current year, the focus of operational business is on the existing
portfolio, especially the two largest holdings MagForce and ItN. Nanostart
sees great potential here for value growth based on the underlying
technologies.
Regarding international business in the current fiscal year, Nanostart
continues to concentrate on growth regions in Asia that provide ideal basic
conditions. As the focus of global expansion, activities here will be
accelerated.
At its official meeting on May 29, 2012, the Nanostart AG supervisory board
approved the management board resolution to recommend that all accumulated
equity be returned to general revenue reserves. In order to respond with
flexibility to market developments, the Nanostart AG management board and
supervisory board intend to recommend the introduction of a stock buyback
program at the annual shareholder meeting
The annual financial statement is available for download at the company
website: www.nanostart.de.
About Nanostart:
Nanostart AG headquartered in the German financial capital
of Frankfurt, is a leading nanotechnology investment company, with
portfolio companies spanning the globe from Silicon Valley to Singapore.
The company provides venture capital financing for nanotechnology companies
in various growth phases with a focus on innovation-driven industries of
the future such as cleantech, life sciences and IT/electronics. As main
shareholder of Nanostart Asia Pacific Ptd Ltd, Nanostart invests as partner
of the Singaporean government.
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 Canada, Australia or Japan.
Media contact:
Nanostart AG
Dr. Hans Joachim Duerr
Head of Corporate Communications
Goethestrasse 26-28
60313 Frankfurt, Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 150
e-mail: presse(at)nanostart.de
End of Corporate News
---------------------------------------------------------------------
08.06.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
173147 08.06.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 08.06.2012 - 06:00 Uhr
Sprache: Deutsch
News-ID 154494
Anzahl Zeichen: 7893
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 359 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Nanostart AG publishes numbers for fiscal year 2011"
steht unter der journalistisch-redaktionellen Verantwortung von
Nanostart AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
