Meyer Burger Technology AG — Earnings Release 2009

Aug 14, 2009

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Corporate | 14 August 2009 12:57

Roth & Rau publishes half-year figures for 2009

Roth & Rau AG / Half Year Results

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Roth & Rau publishes half-year figures for 2009
- Sales up by 12.9 % to EUR 117,045k
- EBITDA with disproportionate growth of 39.5 % to EUR 16,301k
- EBIT improves by 13.9 % to EUR 12,040k
- Targets for overall year confirmed

Hohenstein-Ernstthal, 14 August 2009 - Roth & Rau AG concluded the first
half of 2009 with sales growth of 12.9 % to EUR 117,045k (2008: EUR
103,669k). The sales performance of the photovoltaics segment was affected
as the year progressed by the prolonged downturn in the willingness to
invest in the solar industry seen since the third quarter of 2008. At EUR
95,188k, sales in this segment nevertheless virtually matched the previous
year's figure (2008: EUR 97,244k). The plasma and ion beam technology
segment developed positively, with growth of 73.0 % from EUR 3,628k to EUR
6,276k, driven in particular by larger-scale orders in the field of
photovoltaics research. As a result of the acquisitions made, sales in the
other activities segment grew from EUR 2,797k to EUR 15,581k.

Key earnings figures also developed positively. Earnings before interest,
taxes, depreciation and amortisation (EBITDA) in particular showed
disproportionate growth compared with sales, rising by 39.5 % to EUR
16,301k, as a result of which the EBITDA margin increased from 11.3 % to
13.9 %. Earnings before interest and taxes (EBIT) reached EUR 12,040k and
thus improved by 13.9 %. At 10.3 %, the EBIT margin was slightly up on the
previous year's figure of 10.2 %. The improvement in key earnings figures
was mainly due to the extensive measures taken to enhance efficiency.

'We can afford to be satisfied with these results, particularly as earnings
in the current year have also been affected by one-off expenses. In
reaction to the fall in demand in established markets, we have also
invested in expanding our external partnerships in upcoming markets. What's
more, the current market situation has also given rise to opportunities,
such as those we recently seized by acquiring Ortner cleanroom logistic
systems GmbH and Romaric Corporation,' commented Dr. Dietmar Roth, CEO of
Roth & Rau AG.

Order situation affected by difficult climate in sector

The second quarter also failed to bring any significant change in the
market climate for photovoltaics. Falling module prices and the excess
capacity already on hand continue to impact negatively on companies'
willingness to invest, especially at established manufacturers. Fresh
demand largely came from high-growth solar markets and mainly involved
turnkey production lines. Not infrequently, however, the signing of the
corresponding contract was delayed due to ongoing project financing
difficulties. This is also reflected in new orders, which at EUR 19,569k
declined as expected in the second quarter. Roth & Rau nevertheless
maintained its ground well compared with competitors and acquired market
share. New orders totalled EUR 65,162k in the first half of the year, as
against EUR 181,127k in the previous year. Orders on hand amounted to EUR
161,486k as of 30 June 2009 (2008: EUR 278,040k). Carsten Bovenschen, CFO,
sees positive indications for the second half of the year. The company
currently has letters of intent for equipment and turnkey production lines
worth more than EUR 159 million, which are expected to result in 'contracts
on a scale of EUR 75 million' being signed before the end of the current
year.

Outlook

The operating performance in the next one and a half to two years is
crucially dependent on how the economic climate and demand levels in the
solar industry continue to develop, while the current indications of a
recovery are being backed up by positive signals, especially from China,
India and the USA. 'With our half-year figures, we are still on target. For
the 2009 financial year as a whole, we still aim to achieve sales of
between EUR 245 million and EUR 270 million and to improve our operating
profit margins,' commented Bovenschen, thus confirming the guidance. 'We
are focusing this year on research and development, in which we invested
around 7.4 % of sales in the first half of 2009. We are making use of this
period of economic weakness to meet even more closely our customers'
increasing requirements in terms of higher levels of efficiency accompanied
by lower operating costs. We aim to bring our newest generations of systems
and turnkey production lines to market as quickly as possible so as to
benefit in this way from the long-term growth in the solar industry.'

About Roth & Rau AG:
Roth & Rau AG based in Hohenstein-Ernstthal (ISIN DE000A0JCZ51) is one of
the world's leading suppliers of technologies and production equipment for
the photovoltaics industry. Roth & Rau's photovoltaic division (PV) focuses
on providing antireflective coating facilities as well as fully automated
manufacturing lines (turnkey production lines) for the production of
crystalline silicon solar cells. Another focus is on the production of
coating facilities and turnkey production lines for the production of thin
film solar modules. The plasma and ion beam technology division (PIB)
produces plasma sources and ion beam sources as well as process systems for
plasma and ion beam enhanced thin film and surface processing methods.
Customers served by this division include, in particular, companies in the
semiconductor industry, R&D departments in various industries including
photovoltaics as well as research institutes and universities. The third
division, 'Other activities', comprises maintenance and service, software
products as well as other products and services. Roth & Rau AG posted EBIT
of EUR 28.5 million and sales of EUR 272.1 million pursuant to IFRS for the
2008 financial year and employed 606 people as of 31 December 2008. In the
first half of 2009, the Group generated earnings before interest and taxes
of EUR 12.0 million on sales of EUR 117.0 million. The headcount increased
to 729 as at 30 June 2009.

Contact:
Roth & Rau AG
Dr. Silvia Roth
Tel.: +49 (0) 3723/6685-333
E-Mail: investor@roth-rau.de

Haubrok Investor Relations GmbH
Simone Gorny
Tel.: +49 (0) 211/30126-130
E-Mail: s.gorny@haubrok.de
14.08.2009 Financial News transmitted by DGAP

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Language: English
Issuer: Roth & Rau AG
An der Baumschule 6-8
09337 Hohenstein-Ernstthal
Deutschland
Phone: 03723 6685-0
Fax: 03723 6685-100
E-mail: info@roth-rau.de
Internet: www.roth-rau.de
ISIN: DE000A0JCZ51
WKN: A0JCZ5
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart

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