Manz AG — Earnings Release 2014

Aug 14, 2014

News Details

Corporate | 14 August 2014 07:30

Manz AG: Strongest quarterly revenue in the company’s history confirms impressively successful diversification

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

14.08.2014 / 07:30

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Manz AG: Strongest quarterly revenue in the company’s history confirms impressively successful diversification

– Q2 2014, with more than EUR 109 million, strongest quarterly revenue in company’s history

– Revenue growth up by 19 %, compared with H1 2013, to EUR 164 million

– Positive EBIT and consolidated profit, at EUR 1.2 million and EUR 0.2 million, despite continuing high investment in the Solar division

– Continued outstanding order backlog of over EUR 100 million

Reutlingen, August 14, 2014 – Manz AG, one of the world’s leading high-tech engineering companies with an extensive technology portfolio covering the three strategic divisions of “Display”, “Solar” and “Battery”, has today published its figures for the first half of 2014. Revenues of over EUR 109 million and around EUR 164 million, respectively, enabled Manz to post the highest revenue in the company’s history both for a quarter and a half of the year. At the same time, Manz AG succeeded in counterbalancing the expectedly weak development in the first quarter, generating positive earnings before interest and taxes (EBIT) of EUR 1.2 million for the full reporting period. In view of orders on hand of over EUR 100 million as of June 30, 2014 and the continuing good prospects in the Display and Battery divisions for the second half of 2014, the Managing Board has specified its forecast for 2014 as a whole.

Dieter Manz, founder and CEO of Manz AG, comments: “Since the beginning of the year, we have been witnessing increasing business momentum. The revenues we generated in the second quarter, at over EUR 109 million, were higher than ever before in a quarter. In addition, we achieved our most important target by returning to the black, despite continuing high investment in the further development of future technology in the Solar division.” This was due to the high level of incoming orders in the first quarter of 2014, with the Display segment accounting for the lion’s share.

In the first half of 2014, Manz AG generated revenues of EUR 163.6 million, following EUR 137.8 million in the same period in the previous year. Total operating revenue amounted to EUR 161.6 million, following EUR 148.0 million in the first half of 2013. The most important earnings parameter, earnings before interest, taxes, depreciation and amortization (EBITDA), at EUR 13.2 million, was, as expected, below the prior-year level (H1 2013: EUR 15.7 million). The main impact here was attributable to the discontinuation, since the beginning of the year, of funds of EUR 3.0 million received from Würth Solar as part of the agreement to acquire the location in Schwäbisch Hall. Despite this additional burden whilst continuing fully with the research operation, and a loss-making first quarter in 2014, the company again showed positive earnings before interest and taxes (EBIT) of EUR 1.2 million at the end of the first half of 2014 (H1 2013: EUR 3.8 million). Consolidated net profit stood at EUR 0.2 million (H1 2013: EUR 0.2 million).

In terms of divisions, the Display segment accounted for the largest revenue share in the first half of 2014, contributing EUR 113.0 million (H1 2013: EUR 84.8 million). This is due, in particular, to the successful transfer of the Manz technology portfolio to applications for the production of mobile end devices, such as smartphones and tablet PCs. The Solar division generated around EUR 6.3 million in the first six months of 2014, compared with EUR 4.7 million in the same period in the previous year. The Battery division contributed EUR 6.4 million to Group revenues through sales of equipment for producing lithium-ion batteries (H1 2013: EUR 4.9 million). The PCB/OEM reporting segment was responsible for EUR 29.9 million (H1 2013: EUR 33.7 million). The Others reporting segment accounted for the remaining revenues totaling EUR 7.9 million (H1 2013: EUR 9.6 million).

The company acquisition in the Battery division enabled Manz AG to open up the market for consumer electronics, in addition to the observed market for e-mobility and stationary power storage, and obtained, as early as June 2014, the largest single order so far in this division. In this connection, the Managing Board assesses the opportunities for short-term follow-on orders as being promising. In view of this and Manz AG’s extremely good positioning on the Display market, Dieter Manz provides the following summary: “We have a number of promising projects in the pipeline and see additional potential in the Battery and Display divisions. We are also noticing a slight upturn in demand in the Solar division and continue to pursue the objective of selling our first fully integrated production line for the manufacture of CIGS thin-film solar modules, the Manz CIGSfab. The chances of this happening are better than ever. We are accordingly optimistic about development in the second half of 2014.” The Managing Board has specified its forecast for 2014 as a whole and expects revenues of between EUR 280 million and EUR 300 million along with a positive EBIT. Selling a CIGSfab is not yet included in this forecast and would have a corresponding positive impact on the revenue and earnings situation of the company.

The full report for the first six months of 2014 is available for download on the company’s Web site, www.manz.com , in the “Investor Relations” section.

Company profile:

Manz AG – passion for efficiency

Manz AG, headquartered in Reutlingen, Germany, 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. Manz has expertise in six fields of technology: automation, laser processes, vacuum coating, screen printing, metrology, and wet-chemical processes. These technologies are used and developed in three strategic business areas: Display, Solar, and Battery.

The company, led by founder Dieter Manz, has been listed on the stock exchange in Germany since 2006, and currently develops and manufactures in Germany, China, Taiwan, Slovakia, Hungary, and Italy. Manz also has sales and service offices in the United States, South Korea, and India. At the mid of 2014, Manz AG had approximately 1,900 employees, half of them in Asia. With its slogan “Passion for Efficiency”, Manz is making a promise to offer its customers – all companies active in important future markets – increasingly efficient production equipment. Like this, the company contributes significantly to reduce the production costs of end products and thereby making them available for a broad range of buyers worldwide.

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

Manz AG

Axel Bartmann

Tel.: +49 (0)7121 – 9000-395

Fax: +49 (0)7121 – 9000-99

E-mail: abartmann@manz.com

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14.08.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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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
Indices:	TECDAX
Listed:	Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News	DGAP News-Service

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