Nanogate SE Significantly Exceeds the Sales and Earnings Forecast for 2017 and Achieves New Records06.03.18 DGAP-News: NANOGATE SE / Key word(s): Preliminary Results06.03.2018 / 10:10 The issuer is solely responsible
DGAP-News: NANOGATE SE / Key word(s): Preliminary Results
Nanogate SE Significantly Exceeds the Sales and Earnings Forecast for 2017 and Achieves New Records
- 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.
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Nanogate (ISIN DE000A0JKHC9) is a leading global specialist for design-oriented high-tech surfaces and components of very high optical quality. The Group employs around 1,200 people. Nanogate develops and produces design-oriented surfaces and components and enhances them with additional properties (e.g. nonstick, scratchproof, anticorrosive).
The Group has first-class references (e.g. Airbus, Audi, August Brötje, BMW, BSH Hausgeräte, Daimler, FILA, Ford, Fresenius, GM, Jaguar, Junghans, Porsche and Volkswagen). Several hundred mass production projects for customers have already been implemented successfully. The Nanogate Group is represented on both sides of the Atlantic with its own production facilities.
True to its slogan "A world of new surfaces," Nanogate is a long-standing innovation partner who opens up the diverse possibilities offered by new materials to companies in a wide range of industries. It aims to improve customers' products and processes and to provide environmental benefits by using multifunctional surfaces, such as those made of plastic or metal, and innovative plastic components. The Group concentrates on attractive sectors such as automotive/transport, mechanical/plant engineering, buildings/interiors and sport/leisure. As a systems provider, Nanogate offers the entire value chain materials development for surface systems, series coating of various different substrates as well as the production and enhancement of complete plastic components. The main value drivers are the opening up of international markets, the development of new applications for the strategic growth areas Advanced Polymers (innovative plastics) and Advanced Metals (innovative metal enhancements) as well as external growth.
This publication constitutes neither an offer to sell nor an invitation to buy securities. The shares in Nanogate SE (the "Shares") may not be offered or sold in the United States or to or for the account or benefit of "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")). No offer or sale of transferable securities is being made to the public.
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