Manz AG — Earnings Release 2009

Nov 9, 2009

News Details

Corporate | 9 November 2009 08:00

Manz Automation AG publishes 9-month report for 2009

Manz Automation AG / Quarter Results

09.11.2009

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• Revenues of EUR 46.7 million in the first nine months of 2009 (previous
  year: EUR 159.1 million)
• EBIT falls from EUR 18.8 million to EUR -16.1 million
• Strong equity ratio of around 80% and cash and cash equivalents of EUR 54
  million
• Forecast for fiscal year 2009: Revenues of EUR 80 - 85 million with EBIT
  negative on the whole

Reutlingen, November 9, 2009 - Manz Automation AG, one of the world's
leading technology providers for the photovoltaic and LCD industries,
recorded revenues of EUR 46.73 million in the first nine months of 2009
(previous year: EUR 159.10 million). Revenues in the third quarter of 2009
totaled EUR 18.46 million (previous year: EUR 57.50 million). After the
first nine months of 2009 total operating revenue amounted to EUR 59.14
million, compared to EUR 162.11 in the same period of the previous year.

In the first nine months consolidated EBIT fell to EUR -16.09 million
(previous year: EUR 18.77 million). The first positive effects could
already be seen from the cost-cutting program put in place during the
current year. As a result, it was possible to limit the operating loss in
the third quarter to EUR -3.53 million, after a loss of EUR 7.60 million
was booked in the previous quarter (Q2/2009).

Pre-tax earnings (EBT) sank to EUR -14.39 million in the first nine months
of 2009 after EUR 18.53 million in the same period of the previous year.
This resulted in a consolidated net loss for the period of EUR -11.53
million compared to net income of EUR 14.09 million last year. This
corresponds to earnings per share of EUR -2.45 (previous year: EUR 3.52).
The cash flow from operating activities in the same period totaled EUR
-4.41 million (previous year: EUR -4.60 million).

The revenue and earnings growth reflects the general economic situation and
the impact of the global recession on the solar sector. Figures for the
third quarter do not yet show the initial positive signs stemming from this
year's European Photovoltaic Solar Energy Conference and Exhibition and the
generally improved outlook. In contrast, the recovery on the LCD market
resulting from increased demand for TV sets, in particular in China, has
ensured that the existing capacity at the Asian production facilities has
been fully taken up.

The Reutlingen-based engineering company's research and development
activities in fiscal year 2009 are worthy of particular note. In addition
to the new and further development of existing equipment and processes for
the solar sector, the company is working on the development of a production
line for the serial production of Li-ion batteries. Manz Automation is thus
developing opportunities for growth in another aspiring sector. Manz is
planning to expand these activities to form a separate business unit as
early as next year, thus placing its business model on even broader
foundations. Through this segment, Manz was already able to record a
positive contribution to revenues and earnings in the third quarter of
2009.

The fact that the upswing failed to materialize in the second half of 2009
means that a balanced result is no longer realistic for Manz Automation for
the year as a whole. Based on the order book of around EUR 78 million as of
September 30, 2009, the Managing Board is forecasting revenues of EUR 80 -
85 million for fiscal year 2009. In addition, the Managing Board expects
that Manz will return to positive EBIT in the fourth quarter, however
without being able to compensate for the loss over the year as a whole.

Manz Automation AG's CEO Dieter Manz believes that the company is
excellently equipped to face the current challenges, irrespective of the
current economic developments: 'We are superbly positioned for the next
stage of our growth. Over the past few months we have launched a large
number of innovations that will set standards in the industry. Solar cell
manufacturers will have to invest again in the coming months in order to be
able to manufacture competitively. We offer the world's leading solutions
in this regard, and this, together with our low-cost production facilities
in Asia, mean that we are excellently positioned to participate in this
upswing.

The full report for the first nine months of 2009 can be downloaded from
www.manz-automation.com in the Investor Relations section.

Company profile: Manz Automation AG

Reutlingen-based Manz Automation AG (ISIN: DE000A0JQ5U3) is one of the
world's leading technology providers in terms of market shares for systems
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, metallization and wet chemicals as well as
control and drive technology. The Manz Group's key strategic divisions are
photovoltaic (systems.solar), LCD (systems.lcd) and OEM systems
(systems.aico) for automation in various industrial sectors and the life
science industry. The Manz Group has sales and service branches in Germany,
Taiwan, the USA, China, South Korea, India and Spain. In addition, the Manz
Group has its own production facilities in Germany, Slovakia, Hungary,
Taiwan and China.

Investor relations contact:

cometis AG
Ulrich Wiehle / Dominic Großmann
Tel.: +49 (0)611 - 205855-15
Fax: +49 (0)611 - 205855-66
E-Mail: grossmann@cometis.de

09.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Manz Automation AG
Steigäckerstr. 5
72768 Reutlingen
Deutschland
Phone: +49 (0) 7121 9000-0
Fax: +49 (0) 7121 9000-99
E-mail: info@manz-automation.com
Internet: http://www.manz-automation.com
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart

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