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Nanogate achieves a jump in sales of over 50 % in the first half of 2015
Sales rise to over EUR 42 million (according to preliminary figures) / Operating result improves to over EUR 4.7 million / Liquidity exceeds EUR 23 million mark / Forecast for whole of 2015 confirmed
Ralf Zastrau, CEO of Nanogate AG, commented: “Nanogate is continuing on its dynamic course. In operational and strategic terms we have made important progress. With new solutions and additional technologies, we are driving forward the opening up of international markets. By means of the considerable expenditure and investments the Group is creating the conditions necessary to exceed the EUR 100 million sales mark over the medium term and to increase profitability. Our Phase5 strategy programme is proving a good navigator: the current development demonstrates the Group’s good orientation to new applications and markets. Nanogate is holding its course.”
Cash and cash equivalents of more than EUR 23 million
In the first half-year the whole Nanogate Group profited from strong demand across all target industries. Even taking into account the effects of consolidation arising from the acquisition of surface specialist Vogler in July 2014, sales consequently rose by over 50 % to more than EUR 42 million (previous year: EUR 27.2 million). Despite the costs associated with growth, operating result (consolidated EBITDA) improved by more than a third to over EUR 4.7 million (previous year: EUR 3.5 million). The half-year result is characterised by the course of investment and is developing as scheduled. Mid-way through the half-year the Group held cash and cash equivalents of over EUR 23 million (31 December 2014: EUR 17.8 million) primarily as a result of the company’s good development and a successful capital increase. In view of the company’s strong development and despite the altered economic conditions, the Group confirms its forecast for the whole of 2015, according to which there will likely be an increase in sales to significantly more than EUR 80 million and a significant improvement in operating result, although significant funds are flowing into the implementation of the Phase5 growth strategy.
NB: Nanogate will publish its full interim report as at 30 June 2015 in mid-September 2015.
Nanogate on Twitter: http://twitter.com/nanogate_ag
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