Manz AG — Earnings Release 2010

Aug 10, 2010

News Details

Corporate | 10 August 2010 08:01

Manz Automation AG returns to on-track growth in Q2 2010

Manz Automation AG / Half Year Results/Miscellaneous

10.08.2010 08:01

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• Revenues in H1 2010 more than double to a total of EUR 67.5 million
• Positive EBIT in Q2 2010 totals EUR 1.8 million - accumulated total in H1
  still
  negative
• Revenue forecast for fiscal year increased to a total of at least EUR 140
  million

Reutlingen, August 10, 2010 - Manz Automation AG, one of the world's
leading technology providers for the photovoltaic and LCD industries,
recorded revenues of EUR 67.5 million in the first half of 2010 (previous
year: EUR 28.3 million). Of this total, EUR 46.2 million was recorded in
the second quarter of 2010 alone (previous year: EUR 11.8 million). In the
first six months of 2010 operating revenue also increased to EUR 77.6
million, and has thus doubled compared to the same period of the previous
year (EUR 38.1 million).

Manz recorded EBIT for the second quarter of EUR 1.8 million after losses
of EUR -7.6 million in the previous year. This means that the
Reutlingen-based company has returned to positive operations, even though
the accumulated figure for the first half of 2010 is still negative at EUR
-1.5 million. Pre-tax earnings (EBT) increased to EUR -1.1 million in the
first six months of 2010 after EUR -12.1 million in the same period of the
previous year. This resulted in consolidated earnings after taxes and
minority shares of EUR -0.7 million compared to EUR -9.3 million last year.
This corresponds to earnings per share of EUR -0.16 (previous year: EUR
-2.08). As a result of the significant improvement in operating business
and the associated increase in requirements for working capital, the cash
flow from operating activities in the period under review fell to EUR -5.3
million (previous year: EUR -2.9 million).

The positive signals from operating business thus also reflect in the
revenue and earnings growth in the first half of 2010. New orders, in
particular as a result of the large number of developments in the past
fiscal year, reinforce Manz Automation's position as a leading high-tech
engineering company and innovation driver in the solar sector. At the same
time, the company again benefited from its strong position on the market
for flat panel displays (FPD), in particular in the second half of 2010,
and the strong investment activities by LCD manufacturers in Asia.

'We are expecting a new record figure in the FPD sector, which will even
surpass our previous record-breaking figure in 2008. In particular our
production capacity in Asia is more than filled thanks to many orders
stemming from the boom in touch-panel displays,' explained CEO Dieter Manz.
He added: 'Due to the improved operating business and an order backlog
which currently totals around EUR 100 million, we are forecasting total
revenues in fiscal year 2010 of at least EUR 140 million. Depending on
further market developments, in particular for thin-film technology, there
is also potential to even surpass our targets.' Manz Automation is
forecasting significant increases in revenues and earnings from 2011,
especially due to the strategic alliance established with Würth to produce
CIGS production lines. In terms of the operating result (EBIT) in 2010, the
Managing Board confirmed its target of continuing the positive trend,
closing the fiscal year at a profit despite continued investments.

The full report for the first half of 2010 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 for production systems in the
photovoltaic industry, the FPD industry and for Li-ion battery production.
The Manz Group's core competences are in robotics, image processing, laser
technology, quality assurance, metallization, wet chemicals as well as
control and drive technology. In-depth research and development activities
mean that Manz Automation now ranks among the world's technology leaders in
these segments. Manz has special photovoltaic experience in the field of
integrated system solutions for the manufacture of crystalline solar cells
and thin-film solar modules. With regard to the latter, the company is
characterized, in particular, by its unique expertise in CIGS technology.
Manz is the only provider to have access to a 30 MW CIGS reference factory,
run by its strategic alliance partner Würth Solar. This factory has been
tried-and-trusted since 2006 with 24/7 operations, and offers the highest
effectiveness recorded to date in mass production. The factory will be
available in the future as part of the strategic alliance with Würth for
the further development of production technology and the qualification of
new processes and materials. 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

Public relations contact:

Manz Automation AG
Axel Bartmann
Tel.: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-Mail: abartmann@manz-automation.com

10.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
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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 München, Düsseldorf, Berlin, Stuttgart

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