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Home > Press > Nanogate subsidiary Holmenkol returns to profitability and continues on growth path

Abstract:
Large proportion of growth from new products in the outdoor segment - Positive EBIT and around 13% sales growth in short financial year - Excellent start to the year - Increasing demand from international distribution partners in the outdoor and sports equipment sectors, as well as from new customers - Financial year switched to 31 December year-end - Nanogate's greater strategic involvement pays off.

Nanogate subsidiary Holmenkol returns to profitability and continues on growth path

Göttelborn, Germany | Posted on February 2nd, 2011

Nanogate AG (ISIN DE000A0JKHC9), a leading international systems provider for nanotechnology, benefits from the strong financial performance of its portfolio companies. Thanks to a realignment of its business, the subsidiary Holmenkol AG completed a successful turnaround in the short financial year 2010, achieving a positive operating result (EBIT) based on preliminary, as yet unaudited figures. After increasing sales by some 13% the company intends to continue its course of profitable growth in 2011.

Holmenkol AG, in which Nanogate holds a majority interest of 50% plus one share, with the remaining shares being held by nanotechnology venture capital investment company Nanostart, is a company with a long heritage going back more than 85 years in sports surfaces for winter sports and outdoor activities. This substantial sales growth stems primarily from greater demand from international key accounts in Europe for care products and higher market shares in Canada, the USA and Austria. The increases were mainly achieved by continuously expanding the product range with new care products and innovations such as Speedbase in the ski wax segment. For the first time Holmenkol added a series of products for sports footwear and outdoor shoes to its care segment. The turnaround achieved in 2010 was not only the result of a positive business performance, but also of numerous steps taken to increase efficiency and the greater coordination of business and innovation processes with Nanogate AG. The financial year was also altered to match that of Nanogate AG and now ends on 31 December.

Strong start to the year

The upward trend is set to continue in the current year. Sales forecasts for January 2011 were comfortably exceeded. Talks are also taking place with numerous well-known companies in the outdoor and sports equipment sectors in order to increase Holmenkol's national and international sales potential even further. Marketing for a wealth of new products is due to start in 2011 as well. Moreover, increasing the scope of cooperation with Nanogate AG in the third quarter of 2010 more than paid off. Joint achievements include improvements to business processes and in particular in the high-speed implementation of market-leading innovations.

Karim Grueber, managing director of Holmenkol AG, commented that "Holmenkol reached an important milestone in 2010, returning to positive earnings once again. The strategic realignment will enable the company to establish itself as a leading international sports surfaces company in the medium term. After an excellent start to the year we are optimistic that Holmenkol will again generate dynamic growth in the winter sports and outdoor market and increase its operating result accordingly."

Ralf Zastrau, CEO of Nanogate AG, commented that "Nanogate will in future benefit significantly from positive business performance at Holmenkol. In recent months the company has already exceeded our expectations in terms of sales. The close cooperation in development, production and sales benefits both Nanogate and Holmenkol in equal measure. It is precisely from new products and additional customer segments that we expect additional growth. We are convinced that our investment in the company will pay off more and more over time."

Disclaimer:

This publication constitutes neither an offer to sell nor an invitation to buy securities. The shares in Nanogate AG (the "Shares") may not be offered or sold in the United States or to or for the account or benefit of "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")). No offer or sale of transferable securities is being made to the public outside Germany.

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About Nanogate AG
Nanogate is a leading European integrated nanotechnology systems provider with a focus on enhancing surfaces. The firm, which is based in Göttelborn (Saarland), enables the programming and integration of additional properties – such as non-stick, antibacterial, anti-corrosive and ultra-low friction – into materials and surfaces. As an enabler, Nanogate thereby gains a competitive edge for its customers by product refinement using chemical nanotechnology. Nanogate covers a wide range of industries, functions and substrates. The company thus provides a decisive interface for the commercial use of chemical nanotechnology and bridges the gap between the suppliers of raw materials and industrial conversion into products. In doing so, Nanogate concentrates as an enabler on one of the most attractive segments in the industry. Nanogate has a unique combination of extensive materials expertise paired with comprehensive, first-class process and production know-how from the majority stake in GfO acquired in 2010. As a systems provider and jointly with GfO, Nanogate covers the entire value chain from purchasing raw materials, synthesising and formulating the material systems, right through to enhancing and producing the finished surfaces.

The Nanogate Group currently has approximately 220 employees in all and since commencing operations in 1999 has been a trailblazer in nanotechnology. The company has first-class customer references (e.g. ABB, BSH Bosch-Siemens Haushaltsgeräte, Junkers, Kärcher, Koenig & Bauer AG, Opel and REWE Austria) and many years’ experience of different industries and applications. To date, more than 200 projects have gone into mass production. Nanogate has also entered into strategic cooperations with international companies such as the GEA Group and Dow Corning. Nanogate consists of Nanogate Industrial Solutions GmbH, FNP GmbH for products in the sport/leisure sector, majority stakes in Holmenkol AG and GfO Gesellschaft für Oberflächentechnik mbH as well as a shareholding in sarastro GmbH.

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Contacts:
Christian Dose (financial press and investors)
Cortent Kommunikation AG
Tel. +49 (0)69 5770 300-0


Liane Stieler-Joachim
Nanogate AG
Tel. +49 (0)6825 9591 220

Copyright © Nanogate AG

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