18.08.2011 – 20:03

november Aktiengesellschaft

EANS-News: november AG continues on its path to success/ Publication of the consolidated financial statements for the first half-year 2011

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  Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Financial Figures/Balance Sheet/6-month report

Subtitle: •	Increase in revenues to EUR 1,888 thousand
•	Personnel and consultancy expenses fall by EUR 203 thousand 
•	Consolidated profit of EUR 39 thousand despite special item for AGM
•	Earnings per share (EPS) EUR 0.01
•	Equity in positive figures at EUR 96 thousand
•	Liabilities significantly reduced and placed on a long-term basis


Cologne (euro adhoc) - August 18, 2011: november AG, the Cologne-based company
listed in the Prime Standard index of the German Stock Exchange under securities
identification No. WKN A0Z24E has today announced its half-year result for the
2011 fiscal year.

Key results for the first half-year of 2011:
With effect from January 1, 2011, PROGEN Biotechnik GmbH of Heidelberg and
Multimetrix GmbH of Regensburg have acquired the personnel and laboratory
equipment of MICROBIONIX GmbH of Regensburg as part of an asset deal. The
companies are thus broadening their product portfolio in the field of Luminex
technologies to include services hitherto offered by MICROBIONIX such as testing
services, bead coupling and sample testing on customer demand. 
PROGEN Biotechnik GmbH now exclusively distributes the PATHFAST® analyzing
system of Mitsubishi Chemical Europe GmbH in Germany. The PATHFAST® analyzing
system allows quantitative and reliable measurements from heparin or EDTA whole
blood or plasma in emergency medicine (myocardial infarction, myocarditis).
PROGEN Biotechnik GmbH has extended the field of application of its
well-established Hantavirus Hantaan IgG & IgM ELISA for serological diagnosis of
hantavirus infections. The new hantavirus diagnostics test now allows the
serotype Dobrava to be diagnosed in one test along with the serotype Hantaan. 
The former subsidiaries "PROGEN BIOTECHNIQUE S.a.r.l." and "november Caribe
Inc." have been wound up.
The Annual General Meeting was held in Cologne on May 17, 2011. The adopted
annual financial statements for 2010 were presented and explained. The
Management Board and the Supervisory Board were granted discharge for their
actions during the year and UHY were confirmed as Auditors.

Summary of the financial result for the first half-year of 2011:
Consolidated revenues rose from EUR 1,806 thousand (first half-year of 2010) to
EUR 1,888 thousand. At the same time, personnel costs and other operating
expenses such as legal and consultancy expenses fell by EUR 203 thousand.
Consequently, the operating result improved significantly on the comparative
period in 2010, rising from EUR -425 thousand to EUR 24 thousand; the
year-on-year comparison would have been even better if the costs of this year´s
AGM had not been incurred in the first half of the year. 
The consolidated operating results of the individual companies PROGEN Biotechnik
GmbH, Multimetrix GmbH and november AG also showed a marked improvement in the
first half-year of 2011 compared with the same period in 2010. For example,
PROGEN Biotechnik GmbH´s revenues rose from EUR 1,788 thousand (first half-year
of 2010) to EUR 1,843 thousand, while Multimetrix GmbH´s revenues rose from EUR
11 thousand to EUR 42 thousand. PROGEN Biotechnik GmbH´s operating result also
rose from EUR 27 thousand (first half-year of 2010) to EUR 388 thousand, while
Multimetrix GmbH´s operating result rose from EUR -177 thousand to EUR 4
thousand. The costs of the early AGM meant that november AG´s operating result
fell from EUR -275 thousand in the first half-year of 2010 to EUR -318 thousand
in 2011.
In addition to the balance-sheet improvements, the Group´s financial burdens due
to outstanding loans were also significantly reduced by EUR 1,679 thousand to
EUR 1,500 thousand (2010: EUR 3,179 thousand). The terms and also the repayment
of these liabilities were in most cases extended to twelve years, producing a
reduction in non-current liabilities from loans to EUR 391 thousand. The monthly
burden on the Company´s liquidity is therefore very small.

The sole member of the Managing Board of november AG, Dr. Dirk Zurek, commented
as follows on november AG´s pleasing performance:
"During the first half of 2011 PROGEN in particular demonstrated very positive
performance. For PROGEN, 2010 was still characterized by the restructuring
process, certification and re-alignment, but in 2011 the first new developments
and new areas of business began to emerge, along with initial strategic
measures. 
The expansions of business that have taken place this year are already having an
impact on results. International business has also developed extremely
favorably, largely due to international marketing via the new Internet shop and
Internet marketing activities.
PROGEN is once again acting as a link between science and industry and is
positioning itself on the market with its core competence of successful, expert
commercialization of scientific developments. For example, PROGEN performs
standard-compliant production in accordance with industrial standards, arranges
registration for different markets and advisory sales.
To extend the required scientific network, different research projects are
already being discussed in detail and in different configurations by science and
industry. This is creating the foundations for new areas of business and new
product lines which will significantly expand PROGEN´s portfolio in the near
future. New appointments are also currently ensuring that PROGEN´s expertise is
enhanced accordingly. 
Multimetrix also revealed a significant improvement in its result, not least due
to the two new employees and the services they offer. The asset deal with
Microbionix is therefore already having a positive effect on results.
The decline in november AG´s result for the first half of 2011 is in particular
due to the fact that the costs of the early AGM are already included in the
figures for the first half-year. november AG´s individual result is EUR 43
thousand down on the same period in the previous year. But since this is
significantly less than the overall costs of the AGM, it is clear that without
the costs of the early AGM, the individual result for november AG also shows an
improvement on 2010.
In particular, there was a further marked reduction in necessary external
consultancy expenses. Some of these are still attributable to existing issues
such as the clarification of fiscal matters from 2007, etc.
To ensure november AG is still able to fulfill the duties and obligations
associated with its listing in the Prime Standard index, the Management Board´s
stated aim is to cover basic necessary resources through its own employees.
november AG´s lean organizational structure is supported by external consultants
only where required; this approach and also the creation of synergies between
the individual companies reflect a high level of cost awareness.
These combined factors mean november AG remains on course for success." 

The full financial statements for the first half-year of 2011 are now available
at www.november.eu/investor-relations/reports/

november AG
november AG is an investment and holding company, listed in the prime standard
of the regulated German Stock Exchange (Deutsche Börse) with special focus on
medical technology, biotechnology and environmental technology. www.november.eu

PROGEN Biotechnik GmbH
PROGEN Biotechnik GmbH, Heidelberg, is an EN ISO 13485:2007 certified
manufacturer of in vitro diagnostics (e.g. Lyme Disease, Hantavirus, FSME) and
research reagents (e.g. antibodies, polypeptides, AAV, hyperphage).
www.progen.de 

Multimetrix GmbH
Multimetrix GmbH develops and manufactures multiplex tests/assays based on the
Luminex® technology for applications in diagnostics (infectious disease
serology/Borrelia) and in research (HPV genotyping, coated beads) and offers
test/contract services and technical support for the Luminex® Analyzer. 
www.multimetrix.com


Further inquiry note:
Dr. Dirk Zurek
Vorstand/CEO
Tel.: +49 (0) 221 82200 520 10
E-Mail:  ir@november.de

end of announcement                               euro adhoc 
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company:     november Aktiengesellschaft
             Hansaring 97
             D-50670 Köln
phone:       +49(0)221-82005 20-10
FAX:         +49(0)221-82005 20-15
mail:         info@november.de
WWW:         http://www.november.de
sector:      Biotechnology
ISIN:        DE000A0Z24E9
indexes:     CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Stuttgart, Düsseldorf, Hannover, München 
language:   English