ItN Nanovation AG

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ItN Nanovation increases revenues in Q2 2008 by 43 percent

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6-month report

29.08.2008

•       Increase in revenues in H1 2008 by nearly 24 percent to EUR 2.8 million
•       Result marked by extensive one-time effects
•       EBIT for half year at EUR -6.4 million
•       Further revenue growth and improvement in result planned for second half
of the year 

Saarbrücken, August 29, 2008 - ItN Nanovation AG (ISIN DE000A0JL461) was able to realize dynamic growth in revenues of 43 percent in the second quarter of 2008 year-on-year. On the back of strategy adjustments the company was increasingly tuned to the business needs of the market and its future sustained success. In the course of implementing these measures, the company´s balance sheet was adjusted, resulting in profit impacting one-time effects amounting to around EUR 2 million being accrued in the period.

Revenues in Q2 2008 increased to EUR 1.6 million. This is 43 percent higher than EUR 1.1 million recorded in the previous year's period. In the first six months of the year, revenues came in at EUR 2.8 million and exceeded the value of EUR 2.3 million from the previous year by around 24 percent. Profit impacting extraordinary one-time effects totaling approx. EUR 2 million were accrued due to testing valuations of balance sheet items such as own work capitalized, and as a result of negative impacts connected to changes in personnel. ItN Nanovation expects further negative impacts in the wake of repositioning to be minimal or non-existent. EBIT in Q2 2008 amounted to EUR -4.5 million after EUR -1.7 million in the prior year. For the first half year of 2008 it totaled EUR -6.4 million compared to EUR -3.2 million year-on-year. Net result for the period in Q2 2008 - impacted by one-time effects - added up to EUR -4.4 million compared to EUR -2.9 million in the prior-year. In the first half year, it amounted to EUR -6.3 million compared to EUR -4.4 million in the previous year´s period.

ItN Nanovation anticipates further dynamic growth along with improved results for the second half of the year. We also expect a continued increase in revenues for 2009 in the upper two digit percent region. Based on current business development there is a greater probability that the company will reach its forecast of breaking even in 2009. Alongside the already established product lines such as ceramic coating solutions from the Nanocomp family and the coatings for household ovens, we anticipate ceramic flat filter membrane systems and CFM Systems being the key growth drivers. In addition to the recent EUR 5 million order announced by CFM Systems from the Gulf region the company also has received further high-volume orders. ItN therefore expects exponential growth for 2009.

The complete report on the first half year 2008 is available for downloading at www.itn-nanovation.com.

end of announcement                               euro adhoc
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Further inquiry note:

ItN Nanovation AG
Untertürkheimer Straße 25
66117 Saarbrücken
Tel.: +49 (0) 681/50 01-460
Fax: +49 (0) 681/50 01-499
E-Mail: info@itn-nanovation.com
www.itn-nanovation.com

IR-Kontakt:
edicto GmbH
Herr Axel Mühlhaus
Zeißelstr. 19
60318 Frankfurt am Main
Tel.: 069-90 55 05-52
Fax.: 069-90 55 05-77
Email: amuehlhaus@edicto.de

Branche: Technology
ISIN: DE000A0JL461
WKN: A0JL46
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade

Original-Content von: ItN Nanovation AG, übermittelt durch news aktuell

Weitere Meldungen: ItN Nanovation AG

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