Munich, September 9, 2011 – Munich-based mic AG successfully started into the 2011 financial year. According to preliminary figures the venture capital investor generated a turnover of 2.886 million Euro (previous year’s value: 0.154 million Euro). The net profit improved to 0.410 million Euro after a net loss of 0.601 million Euro occurred in the first half-year 2010.
“We are proud to announce the best first half-year in the company`s history. Compared to the first half of the 2010 financial year the forceful implementation of our business plan enabled us to a jump in profit of more than one million Euro”, mic AG’s Chief Financial Officer Manuel Reitmeier commented the latest figures. “Furthermore we managed to fulfill all liabilities and to increase mic AG’s equity ratio to 100 percent during the first half-year, hence. Being backed up by the improved financial situation we are able to accelerate the pace of investment once more in the course of the remaining financial year. Currently, we are in promising discussions with potential candidates”, Manuel Reitmeier continued. “By successfully finishing the first two quarters and selling our shares in hello2morrow in July we created a basis for reaching our ambitious goals for the 2011 financial year”, adds mic AG’s Chief Executive Officer Claus-Georg Müller.
Besides the investment of a strategic large-scale investor in mic AG and the increase of the equity ratio the last months were defined by a promising new investment and favorable news from the portfolio companies. For instance, the Munich-based early-stage investor secured 100 percent of the shares of PiMON GmbH, which specializes on fiber optics and sensors. The company offers a fully-automated technology for monitoring all kinds of pipelines, which is superior to the traditional methods. PiMON GmbH profits from mic AG’s network and the knowledge of its affiliates Fibotec Fiberoptics GmbH and FiSec GmbH in the area of fiber optic technologies. More positive information was announced by the portfolio companies Flores Solar Water GmbH, which had completed a large pilot plant for water treatment, and by μ-GPS Optics GmbH, whose prototype of an innovative three dimensional measurement system raised great interest on the Hannover Messe. Furthermore the 80 percent owned subsidiary 3-EDGE GmbH sold a manufacturing plant worth 1.5 million US-Dollar to an automotive supplier in the first quarter and closed a 1.2 million Euro contract with Deutsche Telekom AG on the delivery of measurement technology for network infrastructure.
The resolution of the annual general meeting of July 18, 2011 to issue bonus shares was carried out meanwhile. The capital increase from the company’s own resources at a ratio of 10 to 1 recorded on August 18, 2011 in the register of companies increased the company’s subscribed capital to 4.686 million Euro. The allotment of the bonus shares took place on September 5, 2011.
The figures of the first half-year 2011 are preliminary and not audited nor inspected yet.