Meyer Burger Technology AG — Earnings Release 2008

Mar 30, 2009

News Details

Corporate | 30 March 2009 14:18

Roth & Rau AG reports continued growth in 2008

Roth & Rau AG / Final Results

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

---

• Preliminary key figures confirmed: sales + 86.1%, EBIT + 105.9%
• Acquisitions and expansion of international locations lay foundation for
  continued growth
• Positive long-term outlook

Hohenstein-Ernstthal, 30 March 2009 - Roth & Rau AG today published its
figures for the fiscal year 2008. At the annual results press and analysts'
conference in Frankfurt am Main, the company confirmed the preliminary
figures, according to which Roth & Rau continued its strong growth in 2008.
Sales soared by 86.1% to EUR 272,122k (2007: EUR 146,229k). The increase
was primarily due to high demand for production equipment and technologies
in the photovoltaics industry.

Improved profitability
The company's earnings figures improved disproportionately to sales.
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
surged by 122.4% from EUR 15,560k to EUR 34,610k, while earnings before
interest and taxes (EBIT) doubled from EUR 13,864k to EUR 28,548k. The
EBITDA margin and the EBIT margin improved from 10.6% to 12.7 % and from
9.5% to 10.5%, respectively. The increased profitability is attributable
not only to aggressive cost-cutting and optimisation measures in the area
of materials management but also to the fact that sales of individual units
and software automation accounted for an increased share of total sales
revenues. The earnings allocable to the shareholders in Roth & Rau AG also
increased by an impressive 97.1% from EUR 11,681k to EUR 23,024k. Earnings
per share improved by 49.2% from EUR 1.22 to EUR 1.82. The prior year
figure has been adjusted to reflect the increase in the number of shares
resulting from the issue of bonus shares in the context of the July 2008
capital increase from company funds. In accordance with the long-term
growth strategy, the company will continue its policy of the past years and
not pay out a dividend for the past fiscal year. Subject to the approval of
the shareholders, the profit generated will be retained and thus be
available to the company to finance the planned investments.

Strategic milestones reached for continued growth
The past fiscal year saw continued progress in Roth & Rau AG's efforts to
expand its range of products and services for the production of crystalline
silicon solar cells. Thanks to the acquisition of AIS Automation Dresden
GmbH, the investment in SLS Solar Line Saxony GmbH and the takeover of
TECNOFIMES S.R.L, the Group's own products now cover about 65% of the
process steps in the value chain, compared with the previous 45%. 'The
acquisitions marked important strategic milestones in 2008. They helped us
expand our market leadership and put us in the ideal position to benefit
from the long-term growth of the photovoltaics market,' said CFO Carsten
Bovenschen.

In 2008, another strategic focus was on the expansion of the international
service and distribution structure, which is concentrated on future growth
regions for the photovoltaics industry. At the beginning of 2009, Roth &
Rau already had a presence in the USA, China, Korea, Singapore and India.
Additional subsidiaries will follow. The company will thus reduce its
exposure to regional trends and push ahead the expansion of its highly
profitable maintenance and spare parts business. The stronger international
presence is also reflected in a higher export share, which increased from
59.0% in the previous year to 86.5% in 2008.

Long-term growth trend in the solar industry is intact
The global economic downturn will continue in 2009 and also affect the
solar industry. Against this background, Roth & Rau expects demand for
solar products and, hence, for production equipment to decline in the
current fiscal year. A lack of financing and less favourable conditions
will temporarily also have an adverse effect on customers' spending
propensity. The long-term growth trend of the solar industry is intact,
though. Experts expect growth to accelerate again from 2010. 'In the fight
against climate change, there is no getting around solar energy. We will
therefore place a strategic focus on research and development in the coming
years, recognising that our customers, the manufacturers of solar cells,
are under growing pressure to innovate and cut costs. This way we can make
an important contribution to boosting the competitiveness of solar power
and leveraging its huge growth potential,' Carsten Bovenschen explained.

Although the macroeconomic trend will influence the operations of Roth &
Rau AG in 2009, the Group is well prepared, as is reflected in orders on
hand of EUR 213,037k as of 31 December 2008 (2007: EUR 200,583k) and liquid
funds in an amount of EUR 91,515k (2007: EUR 63,270k). Moreover, incoming
orders have shown a satisfactory trend in the fiscal year to date. As of 25
March 2009, the company had received new orders worth EUR 44.7 million,
which will contribute about EUR 40 million to the Group's total sales in
2009. Against this background, Carsten Bovenschen confirmed the projections
for the current fiscal year. 'We project sales of EUR 245 to 270 million
and a further increase in profitability for 2009. In addition, we will
persist in our efforts to expand our market position and win additional
market share.'

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. Furthermore Roth & Rau supplies components and
process systems based on plasma and ion beam technology for other sectors.
Developed by Roth & Rau, these products are manufactured and distributed
worldwide through the company's photovoltaic and plasma and ion beam
technology divisions. 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
equipment for the coating 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 and automotive industries, R&D
departments in various industries including photovoltaics as well as
research institutes and universities. The third division, 'Other',
comprises all activities outside the PV and PIB divisions. 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.

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

30.03.2009 Financial News transmitted by DGAP

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

End of News DGAP News-Service

---