DGAP-News: Nanostart holding ItN Nanovation: results improve by more than 600,000 euros in the first half of 2010
(firmenpresse) - Nanostart AG / Miscellaneous
24.08.2010 09:40
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- Concentration on margin-enhancing revenues
- Cost-cutting measures demonstrating sustainable effects
- Additional bulk filtration orders expected soon
- Positive overall annual results anticipated
Saarbrücken / Frankfurt - August 24, 2010 - Nanostart portfolio company ItN
Nanovation AG (ISIN DE000A0JL461) has further improved its financial
results. The numbers published yesterday in the semi-annual report show an
increase of 626,000 euros over the same period last year. In the first half
of the year, the company managed to create conditions for achieving overall
objectives for fiscal 2010.
Reorganization and restructuring measures are making a significant impact.
On the cost side, the company has been able to achieve additional
substantial reductions. In total, personnel costs and other operational
expenses have been reduced by 25 percent.
The company obtained a gross cash influx of nearly 1.3 million euros
through a capital increase in April 2010. The placement of shares with
reputable industrial investors at an issue price very close to the market
value was successful. Funds were procured in particular to prepare for
anticipated bulk filtration orders. Despite capital increase measures, the
financial situation remains tight.
Ceramic flat filter CFM Systems(R) are developing as planned into a major
sales item and margin enhancer. The primary area of application in 2010 is
pre-filtration of reverse osmosis systems for drinking water extraction.
This is a large market segment in the Arabian region. ItN Nanovation
achieved access to this market by successfully fulfilling an initial order
in July that was placed in early May. Concrete orders from Saudi Arabia
with considerable volume are already emerging for the third and fourth
quarters of the current year. The objective of achieving the highest
revenues in company history in 2010 is within reach.
Together with a Maltese partner, the first highly integrated MBBR (Moving
Bed Bio Reactor) container purification plant was developed and presented
to the public as a series in June 2010. This globally unique system will
make a sustainable contribution to the future business success of ItN
Nanovation. The first systems are scheduled for delivery from Malta in
November/December of the current year. In addition, entry into the Indian
market with a simplified version of this container system is planned.
ItN Nanovation is now entering the final phase of a multistage
reorganization and restructuring concept, in which the company is
significantly improving sales in terms of profit ratio. The company
anticipates a considerable increase in sales in the second half of 2010 and
expects positive overall numbers for the year thanks to results-improving
effects created by the formation of joint ventures and subsidiaries.
About Nanostart:
Nanostart AG, headquartered in the German financial capital of Frankfurt,
is the world's 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. Through its subsidiary
and venture capital fund in Singapore, Nanostart is proud to be the
investment partner of the Singaporean government. 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
60313 Frankfurt
Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 122
e-mail: presse(at)nanostart.de
24.08.2010 09:40 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 24.08.2010 - 09:40 Uhr
Sprache: Deutsch
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