Nanotechnology Now - Press Release: ItN Nanovation with ongoing success after first nine months of 2007

Home > Press > ItN Nanovation with ongoing success after first nine months of 2007

Abstract:
• Cooperation agreement with BASF a strategic milestone
• CFM Systems successfully enters market
• Nanocomp PP product line exceeds expectations
• Revenues in Q3 climb to EUR 1.5 million
• Net loss for the period substantially lower in the quarter

ItN Nanovation with ongoing success after first nine months of 2007

Saarbruecken, Germany | Posted on November 29th, 2007

ItN Nanovation AG (ISIN
DE000A0JL461) reached a significant milestone in the first nine
months of 2007, preparing the ground for further boosting its market
success.

In CFM Systems and Nanocomp AF, ItN Nanovation developed two more
product lines to market maturity this year and successfully launched
them within a very short period of time. The general agreement for
Nanocomp AF that was concluded with BASF AG after the end of the
quarter constitutes a significant milestone. The high-performance
nanotechnology-based coating is to be used in the cooling circuit
systems at BASF's plants to stop "crystallisation fouling", i.e. when
dissolved substances are deposited on pipe surfaces. There are also
plans to jointly develop the product line for another industry
sector. International marketing of the CFM Systems product line is
also encountering much success. The first few orders have already
been received.

The Company´s own revenue expectations for the Nanocomp PP product
line were substantially exceeded after only three quarters. Revenues
for the line amounted to around EUR 0.6 million. ItN expects that
another cooperation agreement for this line at the turn of the year
is likely to provide substantial stimuli for further market
development with a more visible impact on revenues. For Nanocat
-ItN´s virtually self-cleaning household oven coatings - a new
composition was developed with production costs that are almost 30%
lower. It is already in use at a production facility of the customer
BSH Bosch Siemens Hausgeräte. ItN instigated the withdrawal of
exclusivity from BSH, which was linked to price reductions, in order
to determine further sales opportunities.

Revenues in the third quarter climbed by around 8% year-on-year to
EUR 1.5 million. This compensated for part of the losses in revenues
suffered during the first six months of the year. Nevertheless,
revenues were still down 12% on the previous year over the nine-month
period at a total of EUR 3.8 million. The net loss before interest
and taxes was significantly reduced in the third quarter to EUR -1.4
million (Q3 2006: EUR -1.7 million). In the nine-month period, EBIT
totalled EUR -4.6 million compared with EUR -3.2 million in the same
period of the previous year.

ItN Nanovation will continue its successful strategy in the launch of
existing products and also develop promising product lines in the
coming quarters. The Management Board is equally confident that ItN
will be able to leverage its existing market potential, as planned.

The full nine-month report is available to download at
http://www.itn-nanovation.com .

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Contacts:
Andreas Kuntz
Investor & Public Relations Manager
Tel.: +49 (0)681 5001 467
E-Mail:

Jochen Hög
Investor & Public Relations Manager
Tel.: +49 (0)681 5001 566
E-Mail:

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