Meyer Burger Technology AG — Earnings Release 2008

Feb 25, 2009

News Details

Corporate | 25 February 2009 07:28

Roth & Rau AG publishes preliminary figures for the 2008 financial year

Roth & Rau AG / Preliminary Results

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Roth & Rau AG publishes preliminary figures for the 2008 financial year
- Sales and earnings targets exceeded
- Strong sales growth from EUR 146 million to EUR 272 million
- EBIT margin improves from 9.5 % to 10.4 %
- Orders on hand of EUR 213 million and liquid funds of EUR 92 million
provide a comfortable base for 2009

Hohenstein-Ernstthal, 25 February 2009 - The 2008 financial year was once
again characterised by growth at the Roth & Rau Group. Based on preliminary
calculations, sales grew by EUR 126 million to around EUR 272 million and
were thus 8.8 % above the forecast figure of EUR 250 million. As in the
past, the key sales driver was the business involving products and services
for the photovoltaic industry, where Roth & Rau benefited from increased
global demand for production facilities for use in solar cell production.

Roth & Rau also achieved substantial earnings growth. Earnings before
interest and taxes (EBIT) doubled from EUR 14 million to EUR 28 million.
The EBIT margin improved from 9.5 % in 2007 to 10.4 % in the past financial
year, thus significantly exceeding the target figure of 10.0 %. This
profitability growth was chiefly driven by consistent cost-cutting and
optimisation measures in terms of materials management, especially for
turnkey products, and by the increased share of sales attributable to the
individual facility and software automation businesses. These developments
were mainly left their mark on the materials expense ratio, which dropped
from 81.0 % to 75.4 %. Personnel expenses, by contrast, showed a
significant increase to EUR 20 million, up from EUR 8 million in the
previous year. This reflects the further expansion in personnel capacities
during the past financial year. Consolidated net income improved by EUR 10
million to EUR 22 million (2007: EUR 12 million).

'2008 was a highly successful financial year for us. We not only exceeded
our sales and earnings targets, but also consolidated our position in our
most important core markets, even expanding our market position in some
areas. Not only that, we also reached some major strategic milestones. By
expanding our international service and sales network and extending our
product portfolio to include further steps in the value chain, we have laid
a foundation for long-term global growth', commented Dr. Dietmar Roth, CEO
of Roth & Rau AG.

With orders of EUR 213 million on hand as of 31 December 2008 and liquid
funds of around EUR 92 million, Roth & Rau is well equipped for the new
financial year. Although demand in the photovoltaic market is expected to
slow, at least in the first half of 2009, Dr. Roth is cautiously optimistic
about the future. 'We acquired an initial major turnkey order worth EUR 26
million from Millinet Solar in January. This demonstrates that we, as one
of the leading providers in this area, are also very well positioned to act
successfully in a difficult market climate.' All in all, orders of EUR 41
million have been received in the first weeks of the new year. 'We are also
well placed with regard to financing our strategic projects in 2009. The
revenues from the capital increase in April 2008 and the conclusion of the
syndicated loan agreement mean that we secured the necessary financial
flexibility at an early stage', added the company's CFO, Carsten
Bovenschen.

'In view of the economic crisis and the restrictive lending policies
adopted by commercial banks as a result, any statement we were to make at
this point with regard to our business performance in 2009 would still
involve a high degree of uncertainty. Given our volume of orders on hand,
which will contribute around EUR 140 million to EUR 150 million to
consolidated sales in 2009, we expect - based on conservative calculations
- to post sales of between EUR 245 million and EUR 270 million for the 2009
financial year as a whole, with our declared aim being that of winning
market share. We are working at the same time on further improving our
operating EBIT margin. We will closely monitor the degree of willingness to
invest in the photovoltaic division in the coming months and issue a more
specific sales and earnings forecast for the current financial year should
new information become available', stated Bovenschen.

Definitive figures for the 2008 financial year and more detailed
information concerning the course of business will be published with the
Annual Report on 30 March 2009.

About Roth & Rau AG:
Roth & Rau AG based in Hohenstein-Ernstthal (ISIN DE000A0JCZ51) is by
market share one of the world's leading suppliers of plasma process systems
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 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, which accounted for 6 percent of total sales in
the 2007 financial year, 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. Roth & Rau AG posted sales of EUR 146
million and EBIT of EUR 14 million pursuant to IFRS for the 2007 financial
year and had an average of 190 employees. Sales in the first nine months of
the year amounted to EUR 197 million, with EBIT coming in at EUR 21
million.

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
25.02.2009 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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