ItN Nanovation successfully sets course in first half of the year
Saarbrücken (euro adhoc) -
New product line Nanocomp AQ due to see large-scale order Product line CFM-Systems meets with economic success Orders from power plant operators for Nanocomp PP Total performance at EUR 3 million in first half of the year Pace of growth expected to pick up substantially in second half of the year
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
companies
31 August 2007. ItN Nanovation AG (ISIN DE000A0JL461) laid the operational foundation for future growth in H1 2007. A new product line for use in fluid-carrying pipe systems was launched in the form of the ceramic high-performance-coating Nanocomp AQ, for which a first large-scale order of a milestone nature is emerging very clearly.
Marketing for the ceramic flat filter membrane systems, CFM-Systems began directly after obtaining the construction license at the end of May. The success of this was seen in the fast-growing incoming orders - a trend that also continued after the reporting date.
More major orders were acquired from power plant customers for the Nanocomp PP product line and these have already begun to be implemented. At the same time, negotiations for a general agreement with a large energy corporation become more concrete following the reporting date.
ItN Nanovation also made significant progress in product positioning in the other product lines. Cancellation of the exclusivity agreement for the household oven coating Nanocat with the major customer BSH Bosch und Siemens Hausgeräte at ItN Nanovation's initiative enabled the successful product to be marketed with other household appliance manufacturers. However, despite a further improved composition from a cost point of view, this led to a reduction in the sales price.
At EUR 3.0 million, total performance in H1 2007 was slightly down on the previous year's figure of EUR 3.1 million. As a result of some projects being postponed for several months, revenues fell from EUR 2.9 million to EUR 2.3 million. In line with this, however, ItN Nanovation expects revenues to rise in the second half of the year. The large-scale orders announced would also underpin the growth of subsequent years for a long time. At EUR -3.2 million, EBIT in the first half of the year were roughly within the Company's expectations. In the previous year they totalled EUR -1.5 million.
ItN Nanovation anticipates that total performance will increase in H2. However, the second half of the year is mainly set to be dominated by the news that will make the long-term growth trend and the foreseeable effectiveness of ItN Nanovation's business model more visible still. The Company is set to break even in 2008 with the result that a near profit will be possible on a full-year basis.
The Interim Report for H1 is now available to download at www.itn-nanovation.com/reports.
end of announcement euro adhoc 31.08.2007 07:58:47
Further inquiry note:
Andreas Kuntz
Investor & Public Relations Manager
Tel.: +49 (0)681 5001 467
E-Mail: andreas.kuntz@itn-nanovation.com
Jochen Hög
Investor & Public Relations Manager
Tel.: +49 (0)681 5001 566
E-Mail: jochen.hoeg@itn-nanovation.com
Branche: Technology
ISIN: DE000A0JL461
WKN: A0JL46
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade