ItN Nanovation AG

ItN Nanovation has a successful start in 2008

  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.


Saarbrücken (euro adhoc) - ItN Nanovation (ISIN DE000A0JL461) had a successful start to the financial year 2008. Important enhancements were achieved on the product side and well-known customers were acquired during the first quarter. In addition, the sales volume in the amount of EUR 1.21 million is a 5% improvement over the EUR 1.16 million recorded in the previous year. For the remainder of the year 2008, ItN Nanovation expects a noticeable increase of the turnover due to the cooperations and partnerships arranged in the previous quarters and as a result of the newly acquired customers. The operating performance in the first quarter 2008 amounted to EUR 1.47 million which is a marginal decline compared to the previous year´s quarter due to inventory changes. The EBIT was EUR -1.90 million after EUR -1.49 million in the first quarter 2007. The net profit was EUR -1.93 million after EUR -1.47 million in the same period last year. The objective remains to make significant progress towards the break-even point in the course of the second half of the year. However, significant efforts will be required in order to operate in the black already during the course of the fourth quarter.

In the product line Nanocomp Metcast (usage in the foundry sector), ItN Nanovation succeeded in winning important new customers in the first quarter 2008. Thus, Grohe AG, Europe´s largest manufacturer of sanitary taps and fittings, will use the product in the newly installed casting line at the company´s principal office in Hemer. With the Norsk-Hydro group, an important reference customer had already opted for the use of Nanocomp Metcast at the end of 2007.

In addition, it was possible to conclude the contract negotiations with RWE Power Group shortly after the end of the quarter. This facilitates the accelerated introduction of the product line Nanocomp Powerplant, initially at the RWE lignite power plants and at the waste power plants. As far as the Nanocat nanotechnology coatings are concerned, the introduction of the new, more cost-efficient formulation in particular makes itself felt. Thus, ItN expects a substantial increase of the gross profit margin in this segment in the coming quarters. In the area of ceramic flat membrane systems (CFM systems), mainly the business at small and medium-sized sewage treatment plants is clearly picking up.

During the coming quarters, ItN Nanovation will continue the successful strategy of opening up new markets by means of well-known customers and the subsequent broader use of the products. The innovative product range and the strategic positioning allow ItN Nanovation to look confidently toward the future and to assume that the existing market potentials can be exploited as expected.

The complete report on the first quarter 2008 is available for downloading at

end of announcement                               euro adhoc

Further inquiry note:

Andreas Kuntz
Investor & Public Relations Manager
Tel.: +49 (0)681 5001 467

Jochen Hög
Investor & Public Relations Manager
Tel.: +49 (0)681 5001 566

Branche: Technology
ISIN: DE000A0JL461
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

Das könnte Sie auch interessieren: