Nanogate SE Significantly Exceeds the Sales and Earnings Forecast for 2017 and Achieves New Records06.03.18
- Sales increase to at least EUR 185 million, according to preliminary figures
- Operating result (EBITDA) increases to more than EUR 21 million
- Forecast for 2018 confirmed
Göttelborn, Germany, March 6, 2018. Nanogate SE, a leading global specialist in design-oriented high-tech surfaces and components, significantly exceeds the forecast for the 2017 fiscal year, according to as yet preliminary, unaudited figures.
The Group increased sales in 2017 by more than 60 percent to at least EUR 185 million (2016: 112.5). Sustained strong demand and the new majority-owned U.S. subsidiary Nanogate Jay Systems contributed to this. The operating result (EBITDA) increased to more than EUR 21 million (previous year: 12.4), despite transaction and integration costs for acquisitions. Depreciation and finance costs rose in view of the course of expansion as expected. As of the reporting date, Nanogate had cash and cash equivalents of approximately EUR 20 million (previous year: 22.6).
As announced in January, the Group expects a sales increase to more than EUR 220 million for 2018, while the operating result (EBITDA) should increase to more than EUR 24 million despite seven-figure transaction and integration costs. At the same time, Nanogate will proceed with its Phase5 growth strategy. Because of this, increased depreciation and finance costs will affect the consolidated net income. This reflects ongoing growth related to the expansion of capacities as well as the broadening of the technology portfolio through the innovation program.
Ralf Zastrau, CEO of Nanogate SE: “Nanogate looks back on outstanding business development in 2017. The jump in sales and earnings is also attributable to the new U.S. subsidiary Nanogate Jay Systems, which we were able to integrate into the Group quickly. As a growth stock, we will continue our expansion in 2018. In view of the high order base, capacities will be increased again. At the same time, we are committed to strengthening our technological leadership, for example with new applications in the area of integrated smart surfaces, thereby establishing the foundation for business development in the coming years.”
Nanogate will publish its annual report 2017 in April 2018.