november AG
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november AG half year report 2002
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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november AG half year report 2002
During the first half year 2002, november AG has made remarkable progress in its
R&D activities in the fields of Molecular Diagnosis and Therapy as well as in
the recently started sales activities for our innovative biotechnological
solutions in product security and brand protection (identif Technologies).
Important preconditions for a fast entry of our newly developed immuno-
therapeutic anti-cancer agent into phase I clinical trials were fulfilled by
signing a contract with a GMP certified partner. Prior to the broad market
launch of forgery-proof product security systems envisioned for late 2002 or
early 2003, we are preparing customized adaptation studies with two major
companies. Our goal is to generate significant revenues from this field already
in the financial year 2003.
november AG’s consolidated revenues amounted to EUR 1.6 million during the first
half year 2002. Adjusting for the revenues of the la fontaine companies, which
have been de-consolidated as of May 2001, revenues grew by 9% compared to
previous year’s figures. In order to accelerate project development, R&D
expenses were expanded according to plan by 26% to EUR 3.06 million compared
with previous year’s period (EUR 2.44 million) while the workforce grew to 89 on
average in comparison with 86 during the first half year of 2001. Still, the
operating loss of EUR -4.29 million lies slightly below previous year’s level
(EUR -4.33 million). This can mainly be assigned to a significant reduction of
costs, especially in “general and administrative expenses” (minus 22% compared
to previous year’s period). The balance sheet total per 2002-6-30 amounted to
EUR 32.2 million. Shareholders’ equity amounted to TEUR 29.5 million and thus
remains unchanged at 92% of the balance sheet total. Overall liquidity of the
november group amounted to EUR 20 million per 2002-6-30 (2001-12-31: EUR 24
million). The undiluted earnings per share (EPS and DVFA/SG) are EUR -0.37 for
the first six months 2002 (previous year: EUR -0.43). Despite the current
difficult market conditions, november AG assumes for the current financial year
a revenue growth of about 15% and net earnings per share of between EUR -0.75
and EUR -0.90 (previous year’s figure: EUR -1.07).
november AG, Dr. Peer N. Schroeder
Tel.: +49 (0)9131-750 88 868, E-mail: schroeder@november.de
end of ad-hoc-announcement (c)DGAP 08.08.2002
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WKN: 676290; ISIN: DE0006762909; Index:
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, München, Hannover und Stuttgart
080800 Aug 02
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