Nanogate : Pushes Ahead With Implementation of the Future-Oriented NXI Program, With One-off Expenses in the Low Single-Digit Million Range

DGAP-News: NANOGATE SE / Key word(s): Strategic Company Decision

11.06.2019 / 14:49
The issuer is solely responsible for the content of this announcement.

Nanogate Pushes Ahead With Implementation of the Future-Oriented NXI Program, With One-off Expenses in the Low Single-Digit Million Range

- Sites in North Rhine-Westphalia will be combined and restructured

- Annual savings potential in the millions

- Realignment of engineering expertise in the Group, keeping in mind increasingly challenging market environment

Göttelborn, Germany, June 11, 2019. Nanogate SE, a leading global technology company for design-oriented, multifunctional components and surfaces, is pushing ahead with the implementation of its future-oriented NXI program and, in a more demanding market environment, accelerating the realignment of the Group sites in North Rhine-Westphalia.

The Group companies Nanogate PD Systems GmbH (Bad Salzuflen), Nanogate Goletz Systems GmbH (Kierspe) and Nanogate Vogler Systems GmbH (Lüdenscheid) will be combined operationally and strategically, allowing them to more effectively focus on the market and share resources and capacities. They are also focusing on more profitable orders, optimizing existing production and purchasing processes, streamlining management and personnel structures and, as previously announced, centralizing and realigning engineering capacities throughout the Group. Nanogate estimates additional one-off restructuring costs in the low single-digit million range, which will have a negative impact on EBITDA in the 2019 fiscal year.

Nanogate is thus preparing for changing market conditions, particularly in the European automotive industry. In view of recent disappointing economic data and corresponding signals from the automotive industry, there is growing uncertainty in terms of planning related to possible decreases in production and delays in rollouts of new series. Even though Nanogate has received plenty of new orders in the area of new mobility and is currently preparing for the launch of new products - most of them starting from 2020 - negative industry-specific effects in the current year cannot be ruled out.Following the establishment of key conditions in recent weeks, Nanogate is accelerating the implementation of its future-oriented NXI program with the realignment in North-Rhine Westphalia.

Ralf Zastrau, CEO of Nanogate SE: 'The new business continues to develop in a positive direction and contribute to a growing order base. Despite the increasing challenges, the current market environment also offers Nanogate significant opportunities. We're working on achieving our growth targets in industrial business and, as an innovation partner, are supporting the current transformation in the automotive industry. While our strategic prospects are very attractive, we want to push ahead with the implementation of our future-oriented NXI program, also keeping an eye on upcoming major orders. This is designed to make our company simpler, faster and more international. Major contributions to annual increases in efficiency planned for the future are compounded by this year's higher one-off expenses.'

Contact
Christian Dose
Financial Press and Investors
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Juliane Wernet
Nanogate SE
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66287 Göttelborn | Germany
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www.nanogate.com
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Nanogate SE

Nanogate (ISIN DE000A0JKHC9) is a leading global technology company for design-oriented, multifunctional components and surfaces. The Group employs around 1,700 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 with its own production facilities.

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 strategic areas of glass-like (N-Glaze) and metallized surfaces (N-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.

11.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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