Manz AG — Earnings Release 2012

May 11, 2012

News Details

Corporate | 11 May 2012 07:54

Manz AG: Positive outlook for the full year 2012 despite modest first quarter

Manz AG / Key word(s): Interim Report

11.05.2012 / 07:54

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• Overall revenues at EUR 44.1 million impacted by low order situation in
  the previous quarter
• Operating profit (EBIT) slips to EUR -4.9 million
• Continuing dynamic growth in the FPD (Flat Panel Display) segment with
  revenues up by around 59% at EUR 21.4 million
• Strong order book worth over EUR 104 million (as of end of March 2012)

Reutlingen, May 11, 2012 - Manz AG, one of the leading suppliers of
production systems for the photovoltaic and flat panel display (FPD)
industries, generated sales revenues of EUR 44.1 million in the first three
months of 2012. This represents a decline of 28.9% relative to the figure of
EUR 62.0 million booked in the same quarter last year. Aggregate performance
at EUR 46.6 million was down 28.7% compared with last year's EUR 65.4
million. The modest start into fiscal year 2012 is due to the high revenues
and the low level of orders received in the final quarter of 2011.

Nevertheless Dieter Manz, CEO of Manz AG, takes a positive view of the
prospects for the current financial year: 'As expected in view of the low
shipment of sold machines in the first two months and the ongoing difficult
situation on the market for the photovoltaic industry, our results for the
first quarter were negative. Thanks to the strong order intake in our FPD
and lithium-ion business areas in the first three months, however, our
production capacities are currently very well filled. Due to the sustained
strong order intake and the positive prospects for growth especially for
Touch panels in Smart phones and Tablet PCs as well as for
lithium-ion-batteries for the E-mobility sector and stationary energy
storage, we assume overall revenues in 2012 to be on the previous year's
level. Depending on the development in the solar industry we are confident
to surpass this target considerably. As a result of the implemented measures
for cost reduction we expect a significant positive EBIT in 2012.
Particularly with 'non-solar' orders now accounting for over 90% of our
order book which is valued at more than EUR 104 million, we have a highly
positive outlook for the months ahead.'

Revenues in the reporting period were driven primarily by the FPD segment
where revenues were 58.5% higher at EUR 21.4 million (previous year EUR 13.5
million). Manz AG has been successful in redeploying capacities in the
photovoltaic segment to manufacture products for the FPD industry, thereby
stabilising utilisation. In its solar segment, Manz AG recorded a
substantial downturn in sales of 53.3% relative to the same period last
year. Revenues amounted to EUR 11.7 million (previous year: EUR 25.1
million).

In the first three months of 2012 Manz AG recorded negative earnings before
interest and taxes (EBIT) amounting to EUR -4.9 million (previous year: EUR
0.2 million). Financial earnings at EUR -0.3 million were slightly lower
than the previous year's figure of EUR -0.1 million. Consequently earnings
before taxes (EBT) declined to EUR -5.2 million, compared with EUR 0.1
million in the same period last year. Consolidated income after taxes and
minority interests amounted to EUR -5.4 million (previous year: EUR -0.7
million). With an average of 4,480,054 shares in circulation, this equates
to earnings per share of EUR -1.20 (previous year: EUR -0.16).

In the current market development Dieter Manz also sees indicators
confirming the company's strategy: 'Our broad technology portfolio has
enabled us to successfully implement our strategy of diversification and
access new growth markets. As a result, our business model is now more
resistant than ever to cyclical fluctuations in individual sectors. This is
evidenced both by the high level of orders received, as well as by the
positive development in sales and EBIT in our FPD and New Business segments.
The first tangible successes will appear in our results for the coming
months. What's more, we also expect that in the months ahead the solar
industry will begin to bounce back. In this segment, too, we expect
additional orders in the second half of 2012.'

The full Q1 2012 report can be downloaded from today onwards from the
Investor Relations section of the company's website at www.manz.com.

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. Another area 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 beginning of 2012, Manz AG had approximately
2.000 employees, 900 of which work in Asia. With its 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
Ulrich Wiehle / Claudius Krause
Tel.: +49 (0)611 - 205855-28
Fax: +49 (0)611 - 205855-66
E-Mail: krause@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

169311 11.05.2012