DGAP-News: Nanogate Publishes Preliminary Figures for 2019

Nanogate Publishes Preliminary Figures for 2019

- Group sales increase to more than EUR 242 million in 2019

- At over EUR 8 million, EBITDA is at the lower end of the earnings forecast

- Consolidated net income of around EUR -14 million

- Cash and cash equivalents of over EUR 23 million

- Equity ratio of around 30 percent

Göttelborn, Germany, March 17, 2020. According to preliminary figures, Nanogate SE, a leading global technology company for design-oriented, multifunctional components and surfaces, has achieved an EBITDA of more than EUR 8 million, meeting the lower end of its earnings forecast. At EUR 242 million, the sales target was nearly reached.

Based on preliminary, unaudited figures, Group sales in the 2019 fiscal year increased slightly to more than EUR 242 million (previous year: EUR 239.2 million), almost reaching the adjusted forecast of EUR 245 to 250 million. This development is primarily the result of the once again weaker demand from our mobility division customers at the end of the year. The operating result (EBITDA) stands at more than EUR 8 million (previous year: EUR 24.2 million) and is at the lower end of the forecast, which was lowered in November 2019 to EUR 8 to 11 million. EBITDA has been affected by the influential factors we have already disclosed (project start-ups, operational weaknesses, market development, NXI expenses), as well as by the one-off effects of year-end adjustments, e.g. valuation of inventories and receivables, in the amount of around EUR 2 million. As expected, the consolidated net income amounts to roughly EUR -14 million (previous year: EUR 1.4 million). It includes one-off special amortizations of intangible assets (brands) of around EUR 4 million and one-off income in the financial result from the adjustment of purchase price liabilities amounting to more than EUR 10 million.

As of the end of the reporting period, cash and cash equivalents amounted to more than EUR 23 million (previous year: EUR 38.2 million). The equity ratio is around 30 percent (previous year: 33.2 percent). The Group is still in constructive talks with the lending banks regarding the sustainable adjustment of existing financing agreements. In light of the uncertainties currently surrounding the COVID-19 virus and the heightened risk situation, Nanogate will not initially publish a forecast for 2020. The consequences of the pandemic for the Group cannot yet be precisely assessed.

Götz Gollan, CFO of Nanogate SE, says, "Taking into consideration the one-off effects, the net result for the year is within our expectations. Nevertheless, 2019 as a whole was very disappointing. In the face of the current market development and the significantly higher risk situation, due also to the COVID-19 virus, we are pushing forward with our future-oriented NXI program and the restructuring measures associated with it. In addition to increasing liquidity, we want to focus on operational improvements. We have made significant changes in this area in the last few months, but we still have a long way to go."

Contact

Christian Dose | WMP Finanzkommunikation GmbH
Phone +49 69 57 70 300 21 | [email protected]

Nanogate SE
Zum Schacht 3 | 66287 Quierschied-Göttelborn
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 "Reinventing the Possible", 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.