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Manz AG — Earnings Release 2008
May 15, 2008
273_rns_2008-05-15_58294f10-0766-4ba3-8105-2d5ff6776bde.html
Earnings Release
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Corporate | 15 May 2008 08:48
Manz Automation AG starts fiscal year 2008 with dynamic growth
Manz Automation AG / Quarter Results
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- Revenues triple in Q1 2008 to € 38.61 million
- EBIT up 214% to around € 5.58 million
Reutlingen, May 15, 2008. The Manz Group, a leading technology provider in
terms of its market shares for systems and components for automation,
quality assurance, laser process technology for the photovoltaic industry
and automation and wet chemicals for the LCD industry, successfully
continued its dynamic on-track growth in the first quarter of 2008. The
Manz Group increased its revenues from € 12.71 million in Q1 2007 by more
than 200% to € 38.61 million. Total operating revenue was up substantially
by around 155% to € 37.08 million (Q1 2007: € 14.51 million).
EBIT also soared in the first quarter – up 214% to € 5.58 million (Q1 2007:
€ 1.78 million), thus enjoying disproportionate growth compared to
revenues. In terms of revenues, this constitutes an EBIT margin of 14.5%
(Q1 2007: 14.0%). This means that the EBIT margin has again been increased
– not least as a result of lower material consumption and economies of
scale. The Manz Group’s EBT also tripled – up € 3.81 million to € 5.58
million (previous year: € 1.77 million). As a result of the acquisition of
a majority interest in Intech Machines Co., Ltd on April 1, 2008 and the
associated pre-financing, the equity ratio was at around 38% at the end of
the quarter. The cash flow from operating activities in the first quarter
totaled € -1.75 million (Q1 2007: € 44 thousand). This is due in particular
to the substantial growth and the resulting required increase in working
capital.
'We have achieved key milestones in the first few months of 2008, including
three successful acquisitions that will further reinforce our growth with
additional capacity and new technology. We want to significantly reinforce
our global market position by moving integration forward and expanding our
product range,' explained Dieter Manz, Manz Automation AG’s CEO. 'The
strong revenue growth was primarily driven by the systems.solar division,
which enjoyed substantial order-book growth.' In total, Manz Automation
recorded revenues totaling € 26.55 million in its systems.solar division or
68.8% (systems.lcd: € 2.45 million, systems.aico: € 3.32 million, other: €
6.28 million).
As of April 30, 2008 the Manz Group had an order book for the entire 2008
fiscal year totaling € 169.95 million. Of this total, € 103.16 million is
due to the systems.solar division, which is split roughly 50:50 between the
business fields crystalline silicon solar cells and thin-film solar
modules. The acquisition of the majority interest in Intech Machines Co.,
Ltd. caused the order book in the systems.lcd division to increase to €
45.41 million.
As a result of the sustained growth, the Managing Board has reconfirmed its
forecast of recording revenues of € 210 – 215 million in the current fiscal
year, with a sustained increase in EBIT.
Company profile
Reutlingen-based Manz Automation AG (ISIN: DE000A0JQ5U3), together with its
subsidiaries, is one of the leading global technology providers in terms of
market shares for systems and components for automation, quality assurance
and laser process technology for the photovoltaic industry and for
automation and wet chemicals for the LCD industry. The Manz Group’s core
competences are in robotics, image processing, laser technology, wet
chemicals as well as control and drive technology. The Manz Group’s key
strategic divisions are photovoltaic (systems.solar), LCD (systems.lcd) and
components and OEM systems (systems.aico) for automation in various
industrial sectors and the life science industry. The Manz Group has sales
and/or service branches in Germany, Taiwan, the USA, South Korea, China,
Spain, Hungary and Slovakia, as well as a service alliance in India. In
addition, the Manz Group has its own production facilities in Germany,
Slovakia, Hungary, Taiwan and China. The Manz Group recorded revenues in
fiscal year 2007 totaling around € 71.2 million with an EBIT margin of
14.1%. More than 57% of revenues were generated abroad, in particular in
Asia.
Investor relations contact
Manz Automation AG
Birte-Christina Benecke
Tel.: +49 (0)7121 – 9000-21
Fax: +49 (0)7121 – 9000-99
E-Mail: [email protected]
cometis AG
Ulrich Wiehle
Tel.: +49 (0)611 – 205855-11
Fax: +49 (0)611 – 205855-66
E-Mail: [email protected]