EANS-News: november Aktiengesellschaft
Balanced Result And Especially
Successful Operating Business Result
Overall result of the group nearly break-even Significant cost reduction Liabilities reduced further Surpluses in HGB separate financial statements Increase in adjusted sales revenues Significant increase in gross margin Significantly improved margin
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annual result/Publication of annual report 2010
Subtitle: Overall result of the group nearly break-even Significant cost reduction Liabilities reduced further Surpluses in HGB separate financial statements Increase in adjusted sales revenues Significant increase in gross margin Significantly improved margin
Cologne (euro adhoc) - Today, March 31, 2011, november AG, Cologne, listed in the Prime Standard of the German Stock Exchange (Deutsche Börse) is publishing its annual financial statements for 2010.
In 2010, november AG again achieved an almost break-even result of EUR -295 thousand (2009: EUR -323 thousand) despite consolidated sales that fell significantly by EUR 1,173 thousand to EUR 4,078 thousand (2009: EUR 5,251 thousand). This sales decline as compared to 2009 resulted from the termination of the distribution business of the AXIS-SHIELD product line at november´s affiliated company PROGEN Biotechnik GmbH. An improved margin and a considerable cost reduction secured the consolidated result. It was also possible to almost halve the Group's total liability from EUR 7,501 thousand (2009) to EUR 4,113 thousand. Further waivers worth EUR 1,451 thousand were already granted in January 2011. In 2010, the HGB financial statements and consequently tax-relevant results of the major companies showed a surplus in the operating result of november AG of EUR 904 thousand (2009: EUR 1,156 thousand), of PROGEN Biotechnik GmbH of EUR 875 thousand (2009: EUR 839 thousand) and of MULTIMETRIX GmbH of EUR 667 thousand (2009: EUR 697 thousand). These results are mainly a result of extraordinary income. It is expected that it will be possible to employ loss carryforwards in full for tax-reducing purposes.
At the most important operative affiliated company PROGEN Biotechnik GmbH, sales turnover decreased considerably by EUR 861 thousand to EUR 4,238 thousand (2009: EUR 5,099 thousand) due to the termination of the AXIS-Shield product line in 2009. The adjusted comparison of sales turnovers, i.e. annual comparison without the AXIS-Shield turnover, shows a significant increase in sales of 11.4% with the remaining products and services. Despite the fact that the total turnover as compared to 2009 decreased considerably by 16.9%, the gross profit in 2010 increased by a remarkable 42.4% from EUR 2,026 thousand (2009) to its current level of EUR 2,886 thousand. As total costs for 2009 and 2010 almost remained constant, PROGEN was in a position to completely compensate in 2010 the termination of the AXIS-Shield business in 2009. Overall, these developments have had a clearly positive impact on the total consolidated results.
A further important area of potential growth for PROGEN worldwide is the takeover of employees from Microbionix GmbH and the already published takeover of the distribution of Asuragen products and PATHFAST products of MITSUBISHI.
For the entire annual report 2010, please refer to http://www.november.eu/company-profile/reports/
end of announcement euro adhoc --------------------------------------------------------------------------------
Contact:
Dr. Dirk Zurek
Vorstand/CEO
Tel.: +49 (0) 221 82200 520 10
E-Mail: ir@november.de
Branche: Biotechnology
ISIN: DE000A0Z24E9
WKN: A0Z24E
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade