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Nanogate AG Raises Forecast for Fiscal Year 2017 Following Strong Business Development in First Half-Year
Nanogate AG, a leading global specialist in design-oriented high-tech surfaces and components, is raising its forecast for Group sales and consolidated EBITDA for fiscal year 2017.
The new forecast predicts that Group sales are set to climb to over EUR 170 million (previous year: EUR 112.5 million); over EUR 160 million was previously expected. Despite the costs of integration of new US equity holding Nanogate Jay Systems, planned particularly for the second half-year, the forecast for consolidated EBITDA is being raised to at least EUR 20 million (previous year: EUR 12.4 million); consolidated EBITDA of at least EUR 18 million was previously expected. Despite depreciation charges and financing costs rising, as planned, consolidated net income is also likely to improve compared with 2016.
The annual forecast is being increased due to the strong business development in the first half of 2017. In the first six months of 2017, consolidated sales increased to over EUR 93 million according to preliminary figures; they stood at EUR 52.2 million in the same period of the previous year. The new US equity holding Nanogate Jay Systems also contributed to this. The operating Group result (EBITDA) improved to over EUR 10.5 million, compared with EUR 5.9 million in the same period of the previous year. As of the reporting date (June 30, 2017), cash and cash equivalents stood at over EUR 24 million (December 31, 2016: EUR 22.6 million). In addition, the Group is planning the start of a new innovation program with the introduction of numerous new technologies and applications.
Nanogate AG CEO Ralf Zastrau commented, “Thanks to strong demand across the Group, Nanogate achieved a significant jump in sales and earnings in the first half of the year. This pleasing development is likely to continue over the rest of the year, even if exchange rate effects and the planned integration steps for our new US equity holding Nanogate Jay Systems are impacting the momentum. Numerous projects are set to commence following integration into the Group, particularly in the areas of market development and technology portfolio expansion. At the same time, we are gradually improving the order and product mix. Nanogate will also be starting a new innovation program in the coming months that will also shape our development in 2018. We intend to extend our technology lead with this program. The focus is on new solutions and technologies, for example in the New Mobility target market and our N-Metals Design technology platform. The new applications will contribute to the expansion of our long-term innovation partnerships with international groups.”
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