ItN Nanovation AG reported consolidated earnings results for the year ended December 31, 2013, under IFRS. For the period, the company's revenues were 3.4 million, which is an increase of 12% compared to the previous year's value of 3.0 million. The increase was recorded, as expected, for the water filtration division whose turnover rose by 41% compared to the level of the previous year.
Despite increasing turnover, the operating expense of the group was further reduced significantly by nearly 24% compared to the previous year. Correspondingly, the operating loss of 2013 improved by 2.6 million to 3.9 million compared to 6.4 million in the previous year. The group's loss improved from 6.4 million to 4.7 million.