Novaled, a major know how and service provider for highly efficient long lifetime OLEDs, announces today that the company is winner of Red Herring 100 Europe 2008, an award given to the top 100 private technology companies each year. At the same time Novaled releases the last year’s results proving the enterprises rapid growth.Red Herring’s lists of top private companies are an important part of the publication’s tradition of identifying new and innovative technology companies and entrepreneurs. Novaled has been awarded for its rapid growth and its determining contribution to the organic electronic. Novaled supports Europe’s increasing role as a major center of innovation in the global technology sector.
Novaled reached 8.6 Mio. USD* revenue in 2007 showing an impressive growth rate of 67% versus the previous year mainly achieved through material sales and contracted research. With costs of 12.5 Mio. USD the according EBT of 2007 was -3.6 Mio USD.
“2007 results showed remarkable growth compared to the global OLED-players”, said Harry Boehme, CFO of Novaled. “The Red Herring Award demonstrates that Novaled is rightly counted among the leading technology companies”.