Manz AG — Earnings Release 2011

Aug 11, 2011

News Details

Corporate | 11 August 2011 07:59

Manz AG reports further revenue and earnings growth in first half of 2011

Manz AG / Key word(s): Half Year Results/Half Year Results

11.08.2011 / 07:59

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• Doubling of revenue to around EUR 130 million
• Further profitability improvement with operating earnings (EBIT) EUR 3.5
  million
• Order book position of around EUR 120 million (as of end of June 2011)

Reutlingen, August 11, 2011 - Manz AG, one of the world's leading providers
of production systems for the photovoltaic and flat panel display (FPD)
industry, generated EUR 129.8 million of revenue in the first six months of
2011. This represents almost doubling of revenue compared with the previous
year's figure of EUR 67.5 million. In addition, the company's total
operating revenue climbed to around EUR 142.3 million (previous year:
EUR 77.6 million). The most significant revenue-drivers in this context
were primarily the newly developed and innovative products from the solar
and flat panel display (FPD) business areas, which benefited to a
particularly strong extent from high demand on dynamic Asian markets.

After deducting operating costs, Manz AG generated significantly improved
earnings before interest and tax (EBIT) of EUR 3.5 million, compared with
the previous year's operating loss of minus EUR 1.5 million. When taking
into account a slightly negative net financial result of minus EUR 0.3
million, earnings before tax (EBT) stood at EUR 3.2 million, compared with
minus EUR 1.1 million in the first six months of 2010. The company also
reported significant improvements in terms of consolidated net income in
the period under review: after deducting tax and non-controlling interests,
consolidated net income stood at EUR 2.7 million, compared with the
previous year's net loss of minus EUR 0.7 million. Given an average number
of 4,480,054 shares outstanding, this corresponds to earnings per share of
EUR 0.61 (previous year: minus EUR 0.16).

In view of the good order position and capacity utilisation, and very
promising opportunities in the solar business to upgrade customers'
existing production lines with highly efficient Manz systems, and thereby
make them more profitable, the Management Board is confident that it can
achieve its targeted revenue volume of between EUR 240 million and EUR 250
million, also in the current market environment, and that it can maintain
its positive profitability trend. This assessment is also underpinned by
continued good demand in the flat panel display (FPD) area. Current
developments on capital markets, and the attendant risk of unstable
financing terms in the company's target sectors, nevertheless make it
difficult to provide a reliable outlook for the second half of 2011. Should
macroeconomic and sector conditions worsen further over the course of the
year, the risk exists that the company cannot fully achieve the targets it
has set for itself.

Dieter Manz, CEO of Manz AG, commented accordingly as follows: 'The
currently critical capital market environment, particularly for solar
stocks, shows that it was correct for us to diversify our business model,
and to orientate ourselves consistently toward high-growth sectors of the
future. Along with an optimised cost structure that has smoothed our path
back to profitability, innovative products at competitive prices are the
key to sustainable success for us.' Dieter Manz went on to add: 'In order
to achieve this objective - efficient technology accompanied by declining
manufacturing costs - we are outstandingly positioned, not least thanks to
our international presence, and the associated opportunity to offer our
customers German engineering on local terms.'

The complete H1 report can be downloaded from today from the company's
website at www.manz.com, within the 'Investor Relations' area.

Manz AG - passion for efficiency

Manz AG, headquartered in Reutlingen, Germany, (ISIN: DE000A0JQ5U3) is one
of the world's leading high-tech engineering firms. Founded in 1987, in
recent years the company has grown from an automation specialist into a
supplier of integrated production lines for crystalline solar cells and
thin-film solar modules, as well as lines for manufacturing flat panel
displays. One of its newest areas of business is the development and
manufacture of production systems for lithium-ion batteries. The company,
led by founder Dieter Manz, has been listed on the stock exchange in
Germany since 2006, and currently operates production facilities in
Germany, China, Taiwan, Slovakia, and Hungary. At the end of the second
quarter, Manz AG had approximately 1,900 employees, 800 of which work in
Asia. With its new slogan 'Passion for Efficiency,' Manz's engineers are
making a promise to offer its customers - all companies active in important
future markets - increasingly efficient production equipment.

Investor relations contact:

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

Public relations contact:

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

End of Corporate News

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

End of News DGAP News-Service

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