Meyer Burger Technology AG — Earnings Release 2009

May 14, 2009

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Corporate | 14 May 2009 12:10

Roth & Rau AG reports good start to the year 2009

Roth & Rau AG / Quarter Results

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Roth & Rau AG reports good start to the year 2009
- Sales rise 50.5% to EUR 66,133k
- EBIT up 60.5% to EUR 7,109k
- Guidance for the full year confirmed

Hohenstein-Ernstthal, 14 May 2009 - In spite of the difficult market
environment, Roth & Rau AG boosted its consolidated sales by 50.5% from EUR
43,952k to EUR 66,133k in the first three months of 2009. Exports to Asia
made the biggest contribution (EUR 41,759k) to sales. International sales
accounted for 89.0% of total sales, compared to 90.6% in the previous year.

All three divisions contributed to the positive performance in the first
quarter. The photovoltaics division increased its sales by 33.6% from EUR
42,269k to EUR 56,456k; turnkey production lines for crystalline silicon
solar cells accounted for 51.9% of the division's total sales, while
photovoltaics equipment and thin-film equipment contributed 36.6% and
11.6%, respectively. 'Our turnkey activities benefited from an increase in
incoming orders from emerging markets in the past months. By contrast, the
fact that existing customers postponed their capacity expansion projects
had an adverse impact on equipment sales. This trend supports our
expectation that the turnkey business will make a higher contribution to
total sales in the full fiscal year,' said Dr. Dietmar Roth, CEO of Roth &
Rau AG. The plasma and ion beam technology division accounted for EUR
2,482k or 3.8% of total Group sales (2008: EUR 643k). The company's third
division, 'Other activities', which comprises maintenance and service,
software products as well as other products and services, reported an
acquisition-related increase in sales from EUR 1,040k to EUR 7,195k.

Increased profitability
Roth & Rau again improved its profit margins in the first quarter of 2009.
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
increased by 83.4% from EUR 5,009k to EUR 9,186k, while earnings before
interest and taxes (EBIT) climbed 60.5 % from EUR 4,428k to EUR 7,109k. As
a result, the EBITDA margin rose from 11.4% to 13.9% and the EBIT margin
climbed from 10.1% to 10.7%. 'This is primarily attributable to the
extensive efficiency-enhancing measures and to the integration of service
providers whose business models are characterised by higher personnel
expenses but by a lower cost of materials as a percentage of sales,'
explained CFO Carsten Bovenschen. As a result, the Group's cost of
materials increased at a lower rate than sales, namely by 38.1% to EUR
47,905k (2008: EUR 34,700k), which led to a decline in the cost of
materials as a percentage of sales from 78.9% to 72.4%. Personnel expenses
rose from EUR 3,039k to EUR 7,627k; personnel expenses as a percentage of
sales stood at 11.5% (2008: 6.9%).

Guidance confirmed
The Roth & Rau Group's quarterly results mean that the company is on track
to meet its guidance for the full year. 'We are very satisfied with our
performance in the year to date and maintain our guidance for 2009,
according to which we will generate EUR 245 to 270 million in sales and
improve our profit margins as compared to 2008,' Carsten Bovenschen said in
view of the current order situation. As of 31 March 2009, the company's
order backlog amounted to EUR 193,959k (2008: EUR 222,463k). In addition,
the company has received declarations of intent in an amount of roughly EUR
87,000k, for some of which the contractual negotiations are at a very
advanced stage. As expected, incoming orders declined in the first quarter
of 2009 due to companies' spending restraint amidst the general economic
downturn. At EUR 45,593, incoming orders were down 30.7% on the same period
of the previous year (EUR 65,832k).

Strategic outlook
'We will take advantage of the economic slowdown to make the Roth & Rau
Group more efficient and more powerful, while at the same time finding the
ideal positioning in the key markets of the future,' said Dr. Dietmar Roth.
A focus of the company's activities will be on the development and
marketing of plants and turnkey production lines for cadmium telluride
technology. Exhibited by Roth & Rau at the 3rd International Photovoltaic
Power Generation Conference & Exhibition in Shanghai from 6 to 8 May 2009,
these products met with great interest. In addition, the company will
concentrate on expanding its highly profitable service and maintenance
operations. In this context, Roth & Rau will expand its international
activities and has recently taken over Ortner cleanroom logistic systems
GmbH, a company specialising in the installation, maintenance and operation
of production plants.

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 three months of 2009, the Group generated earnings before interest
and taxes of EUR 7.1 million on sales of EUR 66.1 million. The headcount
increased to 702 as at 31 March 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
14.05.2009 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, Stuttgart, München, Düsseldorf

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