Nanogate Group reports significant growth in sales and earnings
•Sales: +61%; EBIT margin: 19.1%
•Position consolidated as a successful nanotechnology enterprise
•Preparations for IPO in second half of 2006 on schedule
•Switch to IFRS accounting planned
Saarbrücken, 25 September 2006. The Nanogate Group achieved significant growth in sales and profitability in the first half of 2006, exceeding its targets.
Nanogate has stayed on course successfully. For the first half of 2006 the company reported a 61% increase in sales to €3.7 million, as against €2.3 million in the first half of 2005. Nanogate Group earnings before interest, taxes, depreciation and amortisation (EBITDA) totalled about €1.0 million and the EBITDA margin was 25.8%. Earnings before interest and taxes (EBIT) were about €0.7 million, equal to an EBIT margin of around 19.1%. By 30 June 2006, equity had increased to €5.2 million, giving an equity ratio of around 75%. In this positive development Nanogate profited mainly from a significantly higher demand for products and applications processed by means of nanotechnology and from a marked expansion in its customer portfolio.
Nanogate AG’s CEO Ralf Zastrau said: “Our good performance in the first half of 2006 was due in considerable measure to major orders from existing customers and to new partnerships in the field of demanding industrial applications such as safety engineering. Overall, we exceeded our internal targets and further strengthened, both quantitatively and qualitatively, our position as one of the world’s most successful nanotechnology enterprises.” With its good order intake, new customers and two new strategic partnership agreements with US corporations Dow Corning and ESK Ceramics, Nanogate expects to pursue its profitable growth course further. Nonetheless, the company’s good first-half results include some special effects, so they cannot simply be extrapolated to the full year 2006.
Preparations for the company’s IPO are going ahead according to plan. Nanogate AG plans a first listing in the Frankfurt Stock Exchange Entry Standard segment in the second half of 2006, subject to developments in the capital market environment. The issue proceeds are to be used to finance further internal and external growth and to strengthen the company’s position as a leading enabler. Nanogate AG currently prepares its financial statements in accordance with the German Commercial Code (Handelsgesetzbuch, HGB), but plans to switch to IFRS for financial year 2007.
