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* Concentration on margin-enhancing revenues
* Cost-cutting measures demonstrating sustainable effects
* Additional bulk filtration orders expected soon
* Positive overall annual results anticipated
Nanostart portfolio company ItN Nanovation AG (ISIN DE000A0JL461) has further improved its financial results. The numbers published yesterday in the semi-annual report show an increase of 626,000 euros over the same period last year. In the first half of the year, the company managed to create conditions for achieving overall objectives for fiscal 2010.
Reorganization and restructuring measures are making a significant impact. On the cost side, the company has been able to achieve additional substantial reductions. In total, personnel costs and other operational expenses have been reduced by 25 percent.
The company obtained a gross cash influx of nearly 1.3 million euros through a capital increase in April 2010. The placement of shares with reputable industrial investors at an issue price very close to the market value was successful. Funds were procured in particular to prepare for anticipated bulk filtration orders. Despite capital increase measures, the financial situation remains tight.
Ceramic flat filter CFM Systems® are developing as planned into a major sales item and margin enhancer. The primary area of application in 2010 is pre-filtration of reverse osmosis systems for drinking water extraction. This is a large market segment in the Arabian region. ItN Nanovation achieved access to this market by successfully fulfilling an initial order in July that was placed in early May. Concrete orders from Saudi Arabia with considerable volume are already emerging for the third and fourth quarters of the current year. The objective of achieving the highest revenues in company history in 2010 is within reach.
Together with a Maltese partner, the first highly integrated MBBR (Moving Bed Bio Reactor) container purification plant was developed and presented to the public as a series in June 2010. This globally unique system will make a sustainable contribution to the future business success of ItN Nanovation. The first systems are scheduled for delivery from Malta in November/December of the current year. In addition, entry into the Indian market with a simplified version of this container system is planned.
ItN Nanovation is now entering the final phase of a multistage reorganization and restructuring concept, in which the company is significantly improving sales in terms of profit ratio. The company anticipates a considerable increase in sales in the second half of 2010 and expects positive overall numbers for the year thanks to results-improving effects created by the formation of joint ventures and subsidiaries.
This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the "Entry Standard" segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within the United States of America, Canada, Australia or Japan.
Nanostart AG, headquartered in the German financial capital of Frankfurt, is the world’s leading nanotechnology investment company, with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases with a focus on innovation-driven industries of the future such as cleantech, life sciences and IT/electronics. Through its subsidiary and venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government. For further information about the company, please visit www.nanostart.de.
About ItN Nanovation:
ItN Nanovation AG, founded in 2000, is one of the leading nanotechnology companies in the world, developing innovative ceramic products, such as filtration systems and coatings, for large industrial customers. The nanoscale powder needed for those products is manufactured by the company itself. The filtration products from ItN Nanovation can be used for drinking water purification, waste water treatment, as beverage filters and for the separation of oil and water. Ceramic coatings based on nanotechnology are used in a variety of ways as protective and catalytic coatings in various industries: from baking ovens to aluminum foundries to coal-fired power plants. The company's success is founded on an extensive product portfolio, combined with comprehensive development and application know-how. For further information about the company, please visit www.itn-nanovation.de.
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Dr. Hans Joachim Dürr
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 122
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