NEW VALUE AG / Key word(s): Half Year Results
16.11.2010 06:41
Release of an ad hoc announcement pursuant to Art. 72 KR
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In the first six months of fiscal year 2010/2011 (as of September 30,
2010), most New Value portfolio companies profited from a friendlier
economic environment and the recovery of sales markets. This positive
development is not yet directly reflected in New Value's half-year results.
Equity value in terms of net asset value (NAV) totaled CHF 71.4 million.
NAV per share fell 1% from CHF 24.27 at the beginning of the period on
March 31, 2010, to CHF 24.12. In July 2010, the general meeting of
shareholders approved a share buy-back program for up to 10% of outstanding
shares. Details will be communicated in December.
New Value made a new investment in Sensimed SA, whose diagnostic solution
allows the 24-hour monitoring of intraocular pressure and thus the targeted
treatment of glaucoma. Further New Value developed its growth companies and
prepared them for new growth.
Operational advances by Silentsoft SA, Swiss Medical Solution AG and
QualiLife AG led to upward valuations of their positions totaling CHF 0.85
million. With support from New Value, FotoDesk Group AG entered the
business printing segment and strengthened its market position by acquiring
the online photo and business printing divisions of netservice.cc media AG.
This increase in value was offset by value adjustments of CHF 1.64 million
for Mycosym International AG due to weaker than expected performance.
Overall, in the first half of 2010/2011 (as of September 30, 2010), New
Value recorded a loss of CHF 1.99 million (previous year: profit of CHF
10.17 million after the sale of the interest in Meyer Burger/3S). The loss
per share equaled CHF 0.67.
Investment in Sensimed: targeted treatment of glaucoma
In August 2010, New Value invested growth capital in Sensimed SA. Its first
approved product, SENSIMED Triggerfish(R), is used for the continuous
monitoring of intraocular pressure and thus the targeted treatment of
glaucoma, also known as 'green star,' which if left untreated can lead to
blindness. New Value invested CHF 1.75 million in Sensimed capital stock,
with another CHF 1.75 million planned for December. The invested funds will
be used primarily to obtain market approvals in the US and Asia and for
commercialization in select regions.
Cleantech: Silentsoft, Solar Industries and ZWS gain ground
Silentsoft was able to keep its sales figures stable despite rising demand
for lease and service solutions, which defer revenue to later years.
Silentsoft developed comprehensive solutions for the promising waste
management and green building segments, among others. The demand from
property managers for energy optimization and real-time building monitoring
systems is growing rapidly.
At Solar Industries AG, its subsidiary SI Solutions GmbH, founded in
Germany in 2009, performed extremely well, breaking even ahead of schedule
in the middle of the year. At the same time, the Italian partner firm MX
Group continued its expansion efforts and is currently building a module
manufacturing site in New Jersey (USA), where particularly high growth
rates are expected in the future.
In March 2010, New Value invested in ZWS Zukunftsorientierte Wärme Systeme
GmbH of Neukirchen-Vluyn (Germany), a system provider of
renewable-energy-based solutions for modern building management,
strengthening its investments in one of its area of focus, cleantech. ZWS
saw yet another marked increase in sales during the first half of 2010.
Healthcare: new projects and collaborations
Idiag AG made initial progress in its search for strategic distribution
partners. A SpiroTiger(R) respiratory training study in firefighters
conducted in cooperation with Dräger Safety Schweiz produced favorable
results and opened up a promising new customer segment.
QualiLife AG continued its efforts in market development. Upon completion
of its first major project at the private Hildebrand clinic in the Swiss
canton of Ticino, QualiLife was selected once again by the clinic to
provide equipment for its Day Hospital. Other newly launched projects
include the Pyramide am See clinic in Zurich, the private Villa im Park
clinic in Rothrist (Switzerland) and the renowned Institut Edouard Bélin in
Besançon (France).
Further strengthening of the portfolio and gradual expansion
Cleantech companies represented 27.8% of the overall portfolio on September
30, 2010, with healthcare companies accounting for 32.2%. FotoDesk Group
made up 12.7% of the portfolio. Liquid and financial assets totaling CHF
19.4 million comprised 27.3%.
In July 2010, the general meeting of shareholders approved a share buy-back
program for up to 10% of outstanding shares. New Value is preparing for an
optimal implementation in the interest of all shareholders and the company.
The buy-back program will be operated on a separate trading line at SIX
Swiss Exchange. Details are planned to be communicated presumably until mid
of December. Uncommitted funds will continue to be directly invested in
innovative startup companies that add economic and ethical value with new
technologies, products or services. In the existing portfolio, New Value
will provide additional capital to help fund further growth initiatives.
The investment team is currently reviewing several opportunities to expand
the portfolio with the goal of making additional new investments in the
second half of 2010/11.
Information about New Value AG
New Value, listed at SIX Swiss Exchange, invests directly in promising
private companies in Switzerland and neighbouring countries with
above-average market and growth potential. As an investment company, New
Value supports innovative business models with growth capital and
accompanies the companies to market success. The portfolio covers companies
of different stages of development, starting with the market introduction
phase up to medium-sized enterprises with stable profits. The portfolio
contains companies active in cleantech and healthcare. New Value assigns
great value to ethical business concepts and good corporate governance
while selecting their portfolio companies. Criteria such as meaningfulness,
social responsibility and ecological sustainability are considered by New
Value as decisive competitive advantages, which affect and enhance the
quality of products and services offered and thus, facilitate an above
average increase of value potential. With impact investing New Value
creates ethical added value - an entrepreneurial approach based on a unique
combination of economical and ethical performance. Since the formation of
New Value, EPS Value Plus AG, Zurich, has served as investment manager.
16.11.2010 News transmitted by EquityStory AG.
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Language: English
Company: NEW VALUE AG
Bodmerstrasse 9
8027 Zürich
Schweiz
Phone: +41-43-344 38 38
Fax: +41-43-344 38 39
E-mail: info@newvalue.ch
Internet: www.newvalue.ch
ISIN: CH0010819867
Swiss Security Number: 552932
Listed: Freiverkehr in München, Düsseldorf, Berlin,
Stuttgart; Open Market in Frankfurt; Foreign
Exchange(s) SIX
End of Announcement EquityStory News-Service
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DGAP-Adhoc: Information regarding the first halfyear 2010/11: New investment in the field of healthcare and further development of portfolio companies - Share buy-back program will start soon
| Source: EQS Group AG