DGAP-Adhoc: ​Nanogate Adjusts Forecast to Market Development and Strengthens Future-Oriented NXI Program

2019. augusztus 22., csütörtök, 12:49





DGAP-Ad-hoc: NANOGATE SE / Key word(s): Change in Forecast/Preliminary Results


​Nanogate Adjusts Forecast to Market Development and Strengthens Future-Oriented NXI Program


22-Aug-2019 / 12:49 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Nanogate Adjusts Forecast to Market Development and Strengthens Future-Oriented NXI Program



Göttelborn, Germany, August 22, 2019. Nanogate SE, a leading global technology company for design-oriented, multifunctional components and surfaces, has updated its forecast for the 2019 fiscal year in view of the current market development. At the same time, the Group will strengthen the measures within the framework of the future-oriented Nanogate Excellence International (NXI) program.



The earnings development in 2019 has been significantly affected by the economic slowdown, which has intensified in the past weeks. The uncertainty of customers that had been pointed out by Nanogate in June, particularly in the mobility sector, is continuing to increase. As a result, new orders have been started later, volumes have been reduced and some ongoing orders have been terminated early. Faced with these conditions, Nanogate will intensify its future-oriented NXI program and, most importantly, review the structure of its sites more intensively. As previously announced, these additional restructuring measures will, together with higher start-up costs for new major orders, also affect the earnings development in the 2019 fiscal year.



Nanogate now anticipates an operating result (EBITDA) of between EUR 14 million and EUR 17 million for the 2019 fiscal year (2018: EUR 24.2 million). Accordingly, a consolidated net loss in the high single-digit million range (2018: EUR +1.4 million) is expected. It is anticipated that sales will increase to between EUR 245 million and EUR 250 million (2018: EUR 239.2 million), while sales of over EUR 250 million had previously been forecast. In view of the market development and the associated uncertainty of customers, the forecast for the 2020 fiscal year will be reviewed.



According to preliminary figures, Nanogate increased its Group sales in the first half of 2019 to roughly EUR 122 million (previous year: EUR 119.4 million). The operating result (EBITDA) came to roughly EUR 8 million (previous year: EUR 12.7 million) and the consolidated net loss to roughly EUR -3 million (previous year: EUR +1.8 million). As of the reporting date of June 30, 2019, the Group had cash and cash equivalents of roughly EUR 33 million.


 



Person making the notification: Goetz Gollan, CFO Nanogate SE






Information and Explanation of the Issuer to this News:

Note:



Further information can be found in the press release also published today. The complete 2019 half-year report will be published at the end of September.

Contact
Christian Dose

Financial Press and Investors

WMP Finanzkommunikation GmbH

Tel. +49 69 57 70 300 21

nanogate@wmp-ag.de

 

Nanogate SE

Zum Schacht 3

66287 Göttelborn | Germany


www.nanogate.com

twitter.com/nanogate_se



Nanogate SE



Nanogate (ISIN DE000A0JKHC9) is a leading global technology company for design-oriented, multifunctional components and surfaces. The Group employs around 1,800 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 and in India.



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 focuses on attractive applications, primarily for the mobility, aviation, home appliances, interior, leisure, and medical sectors - its target industries. As a systems provider, Nanogate broadly covers the value chain: design and engineering, 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 and the development of new applications, particularly for the three strategic areas Intelligent Surfaces, New Mobility and Artificial Metals.



Disclaimer



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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Language: English
Company: NANOGATE SE

Zum Schacht 3

66287 Göttelborn

Germany
Phone: +49 (0)6825/95 91 0
Fax: +49 (0)6825/95 91 852
E-mail: nanogate@wmp-ag.de
Internet: www.nanogate.de
ISIN: DE000A0JKHC9,
WKN: A0JKHC
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 861793





 
End of Announcement DGAP News Service




861793  22-Aug-2019 CET/CEST







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