Edition:
United States

ItN Nanovation AG cuts FY 2017 outlook


Monday, 2 Oct 2017 02:50am EDT 

Oct 2 (Reuters) - ITN NANOVATION AG ::SAID ON FRIDAY ACCORDING TO THE LATEST FINDINGS, IN PARTICULAR WITH REGARD TO TEMPORAL SHIFTS IN THE DELIVERY OF MEMBRANE MODULES, DELIVERY AS WELL AS SALES REALIZATION OF MAJOR ORDERS WILL BE LARGELY POSTPONED IN H1 2018.TURNOVER EXPECTATION OF MORE THAN 10 MILLION EUROS FOR 2017 AS WELL AS THE RELATED FORECASTS FOR FISCAL 2017 OF A POSITIVE EBITDA AND A POSITIVE CASH FLOW FROM CURRENT ACTIVITY CAN NO LONGER BE MAINTAINED.SALES FORECAST FOR FY 2017 HAS TO BE SIGNIFICANTLY REDUCED TO 5.5 TO 7 MILLION EUROS.THIS IS EXPECTED TO RESULT IN SIGNIFICANTLY NEGATIVE CASH FLOW FROM OPERATING ACTIVITIES IN FISCAL YEAR 2017.EXPECTS A SIGNIFICANTLY NEGATIVE EBITDA IN THE 2017 FINANCIAL YEAR.H1 REVENUE 3.55 MILLION EUROS VS 0.14 MILLION EUROS YEAR AGO.H1 NET LOSS 2.00 MILLION EUROS VS LOSS 2.40 MILLION EUROS YEAR AGO. 

Company Quote

1.103
0.003 +0.27%
11:36am EDT