ItN Nanovation: Turnover and results during the entire year, within the framework of the expectations
Saarbrücken (euro adhoc) -
Strong growth during the 4th quarter - Further potential business field about to begin
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Saarbrücken - April 26, 2007. During the year 2006, the ItN Nanovation AG (ISIN DE000A0JL461) fulfilled the business expectations regarding its turnover and results and continued its successful growth trajectory. Turnover constituted 5.81 mn euro as compared to 4.84 mn euro for the previous year - an increase of 20 percent. During the 4th quarter, the earnings thereby increased by more than average, whereas the turnover grew by more than 35 percent to reach 1.52 mn euro.
The result for 2006 also fully lived up to expectations and was, as planned, characterized by high expenditures for research and development as well as for market preparation and market introduction of new products. The EBIT constituted -4.44 mn euro as compared to -2.21 mn euro during the previous year. The deficit for the fiscal year constituted 5.95 mn euro, which was also clearly influenced by the costs of the initial public offering on July 28, 2006. During the previous year, the deficit was 1.60 mn euro.
At 77 percent, the equity ration had more than doubled by Dec. 31, 2006. At the end of the year 2006, the liquid funds amounted to 20.36 mn euro. A year before, they amounted to 1.64 mn euro.
Through encompassing research and development and numerous patent applications and grants of patents, ItN Nanovation was able to expand its position as a specialist for ceramic nanoparticles and coatings for international big industry and for the investment area. In the Nanocomp segment, further important customers could be acquired in the field of power plants (product line PP). The Nanocomp MC products are undergoing final large-scale testing with some target customers, and accordingly the Board is soon expecting corresponding sales. In the Nanocat department, during the fiscal year, the BSH Bosch and Siemens Hausgeräte GmbH coated a total of 1.2 mn ovens with ItN technology. Here, the possibility was also created for acquiring further large customers by cancelling the exclusive contractual binding to BSH.
Based on the successful development during 2006, the Board is very optimistic regarding fiscal year 2007. In addition to the segments mentioned above, it has become apparent that there is a further promising business area with a very sizable market potential that is soon to be developed. ItN Nanovation hopes to be able to report on this within a few weeks.
The compressed audited financial report can as of now be downloaded from www.itn-nanovation.com/reports. An expanded business report will be available from the middle of May.
end of announcement euro adhoc 26.04.2007 08:03:32
Further inquiry note:
Andreas Kuntz
Investor & Public Relations Manager
Tel.: +49 (0)681 5001 467
E-Mail: andreas.kuntz@itn-nanovation.com
Branche: Technology
ISIN: DE000A0JL461
WKN: A0JL46
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
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