DGAP-News: Nanostart AG Publishes Figures for 2010 Fiscal Year
(firmenpresse) - DGAP-News: Nanostart AG / Key word(s): Miscellaneous
Nanostart AG Publishes Figures for 2010 Fiscal Year
01.06.2011 / 06:00
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* Biggest profit in the company's history
* Expansion of Singapore business
* Increase of stakes in existing holdings
Frankfurt am Main - June 1, 2011 - For the 2010 fiscal year,
Frankfurt-based nanotechnology investment company Nanostart AG reports the
biggest profit in its company history. Net income under German GAAP totaled
EUR2.48 million, up 106 percent on the previous year (2009: EUR1.2
million). This means another successful year for Nanostart, which has been
profitable from the beginning of operations.
Net income stemmed chiefly from the successful sale of shares in holdings,
which raised around EUR4.4 million. In contrast to the previous year, costs
were reduced, particularly for wages and salaries (2010: EUR-0.5 million,
2009: EUR-1 million). As a result of sound performance levels in the
portfolio, the 'write-downs on financial investments' item was halved from
EUR-1.4 million in 2009 to EUR-0.7 million in 2010.
The shares of Nanostart Singapore Early Stage Venture Fund I in the Curiox
Biosystems holding were sold in 2010. The transaction proceeds were plowed
back into the fund and will be invested in new nanotechnology holdings in
Singapore. Nanostart saw two further exits from its portfolio in 2010 with
the sale of its shares in the two US holdings NanoGram and BioMicro
Systems. The BioMicro transaction will be completed this year, generating
further cash inflows for Nanostart in 2011.
Via Nanostart Singapore Early Stage Venture Fund I, a new equity investment
was entered into at Singaporean company Microlight Sensors Pte Ltd in 2010.
Founded in 2006, the company develops, produces and sells optical high-tech
monitoring systems with extremely sensitive sensors. The fund holds around
19 percent of Microlight Sensors. In addition, Nanostart AG increased its
stake in German Namos GmbH from 15 to 26 percent and the shareholding of
the Singapore fund in Singaporean medical technology company BioMers Pte
Ltd from 16 to around 25 percent.
A further equity investment has been entered into via the Singapore fund in
the 2011 fiscal year. The new portfolio company is called Membrane
Instruments and Technology Pte Ltd (MINT) and develops membrane-based
sensors that monitor water quality in water treatment plants in real time.
The fund holds 18 percent of MINT.
Nanostart will also be entering the Russian market in the current fiscal
year. A EUR50 million fund is being created in conjunction with Russian
company RUSNANO and the governor of Perm. It will invest in young
nanotechnology companies in the Perm region and will be managed by
Nanostart. Nanostart will receive a management fee of 3 percent p.a. on the
fund volume for this. Across the entire fund term of 10 years, this equates
to a cash inflow of up to EUR15 million. In addition, Nanostart AG will
receive up to 25 percent of the fund's profits - equivalent to the economic
value of an investment of EUR12.5 million - as well as the opportunity to
invest up to EUR12.5 million in the fund itself.
For the current fiscal year, the expansion of the Nanostart portfolio is to
be continued and the potential value of the existing portfolio is to be
leveraged further.
The annual financial statements for 2010 are available on the Investor
Relations section of the Nanostart website under 'Company Reports'. The
2010 annual report will be published on the company's website in the next
few weeks.
About Nanostart:
Nanostart AG (OTCQX: NASRY), 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, please visit
www.nanostart.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 Canada, Australia or Japan.
Media contact:
Nanostart AG
Head of Corporate Communications
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 96 150
e-mail: presse(at)nanostart.de
End of Corporate News
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127046 01.06.2011
Datum: 01.06.2011 - 06:00 Uhr
Sprache: Deutsch
News-ID 34289
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Kategorie:
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