Nanogate reports strong first six months - half-year earnings more than doubled
Provisional figures for the first half of 2016: Sales rise by over 17 % to more than EUR 51 million, operating result (EBITDA) reaches at least EUR 5.8 million, EBIT in particular improves strongly to more than EUR 2.2 million, half year's result more tha
For the first half of 2016, provisional figures show sales rising by more than 17 % to over EUR 51 million (previous year: EUR 43.3 million). The consolidated EBITDA increased by more than 18 % to over EUR 5.8 million (previous year: EUR 4.9 million). The consolidated EBIT saw particularly strong growth of around 30 % to just over EUR 2.2 million (previous year: EUR 1.7 million), despite the costs of the Phase5 growth programme. Due to the good overall performance and positive effects from the reduced obligations for subsidiaries, Nanogate also expects the half-yearly result to at least double.
For the year as a whole, the Group has affirmed its forecast for sales and operating result (EBITDA) as published in April 2016. On the basis of existing projects as well as the majority acquisition of plastics specialist Goletz, the Group expects to see a substantial increase in sales to more than EUR 105 million. Despite the continued expenses associated with the expansion strategy as well as the one-off transaction and integration costs, Nanogate forecasts the operating result (EBITDA) to increase significantly and exceed the EUR 12 million mark. Substantial funds will continue to flow into the ongoing investment programme and international expansion. In view of the growth strategy, consolidated net income will be shaped by depreciation and amortisation as well as financing costs. Despite this, Nanogate expects the consolidated net income for the year as a whole to rise particularly strongly year on year due to the overall good performance and positive one-off effects from the changes in estimates relating to the valuation of subsidiaries and their obligations (IAS 8).
Nanogate AG’s CEO, Ralf Zastrau, commented: “Nanogate has a strong first half of 2016 behind it. We’ve made considerable progress, both strategically and operationally, helped by the acquisition of plastics specialist Goletz and the preparation for the imminent launch of our technology platform, N-Metals Chrome. At the same time, we are recording strong growth in sales in the USA too. Especially encouraging is not only the strong growth in sales and the operating result (EBITDA) but also the particularly strong improvement in the consolidated EBIT, bringing us closer to our goal of increasing our profitability despite the expenses arising from the implementation of the Phase5 growth programme.”
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About Nanogate AG
Nanogate (ISIN DE000A0JKHC9) is a leading international integrated systems provider for high-performance surfaces. The Group, which is based in Göttelborn (Saarland), enables the programming and integration of additional properties - such as non-stick, scratchproof and anti-corrosive - into materials and surfaces as well as enhanced plastic components. True to its slogan 'A world of new surfaces', Nanogate opens up the diverse possibilities of multifunctional surfaces based on new materials for companies in a wide range of industries.
Nanogate provides its customers with technologically and optically high-quality systems. To do so, the company uses its extensive expertise in innovative materials. The aim is to improve customers' products and processes by means of high-performance surfaces while achieving environmental benefits. The Group concentrates on attractive sectors such as automotive/transport, mechanical/plant engineering, buildings/interiors and sport/leisure as well as on the strategic growth areas of advanced polymers and advanced metals. Nanogate has a unique combination of extensive materials expertise paired with comprehensive, first-class process and production know-how. As a systems provider, Nanogate offers services throughout the entire value chain, from the purchase of raw materials, to the synthesis and formulation of the material systems, right through to the enhancement and production of the finished surfaces. The Group focuses primarily on optically high-quality plastic and metal coatings for all surface types. Its value drivers are the opening up of new, international markets, the development of new applications for the strategic growth areas of advanced polymers (innovative plastics, e.g. glazing) and advanced metals (innovative metal enhancements) as well as external growth.
The Nanogate Group has first-class references (e.g. Airbus, Audi, August Brötje, BMW, BSH Bosch und Siemens Hausgeräte, Daimler, FILA, Jaguar, Junkers, Porsche, Volkswagen). Several hundred projects have already gone into mass production. The company also has strategic partnerships with many international corporations. Nanogate comprises Eurogard B.V., GfO Gesellschaft für Oberflächentechnik AG, Nanogate Industrial Solutions GmbH, Nanogate Textile & Care Systems GmbH, Nanogate Glazing Systems B.V. and Vogler GmbH, as well as majority stakes in Plastic-Design GmbH and Walter Goletz GmbH. There are also subsidiaries in the US and in Turkey.