Meyer Burger Technology AG — Earnings Release 2009

Mar 5, 2010

News Details

Corporate | 5 March 2010 07:00

Roth & Rau AG announces preliminary results for 2009 financial year

Roth & Rau AG / Preliminary Results

05.03.2010 07:00

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Roth & Rau AG announces preliminary results for 2009 financial year
- Sales target met, with revenues of EUR 197.9 million
- EBIT margin of 8.1 % also within forecast range
- Positive outlook backed up by improvement in order situation since Q4

Hohenstein-Ernstthal, 05 March 2010 - Based on preliminary figures, the
Roth & Rau Group, one of the world's leading suppliers of technology and
production equipment for the photovoltaics industry, generated sales of EUR
197.9 million in the past 2009 financial year, as against EUR 272.1 million
in the previous year, and thus lies within its forecast range. The
equipment market was affected in the past year by the weak performance of
the photovoltaics sector and by banks' cautious approach to project
financing, factors which impacted on cell and module manufacturers'
willingness to invest.

The Group generated earnings before interest and taxes (EBIT) of EUR 16.1
million in the 2009 financial year (2008: EUR 28.5m). This figure already
includes all purchase price allocation items in connection with the
acquisitions made in the financial year. The EBIT margin amounted to 8.1 %
(2008: 10.5 %). Roth & Rau thus met the forecast issued in November 2009.
By successfully taking over new subsidiaries, Roth & Rau AG has boosted its
market position, further expanded its product and technology portfolio and
thus laid a foundation for further growth. The acquisitions are also
reflected in the increase in the number of employees, which grew from 606
in 2008 to 874 as of 31 December 2009. This development was driven above
all by the creation of additional personnel capacities in the research and
development, technology and engineering departments. The building up of
further capacities in these areas was absolutely necessary to secure Roth &
Rau's technological leadership in future as well. Personnel expenses
increased correspondingly from EUR 20.1 million to EUR 38.6 million.

'We have upheld our growth strategy in spite of the economic crisis in the
past year and have invested heavily in expanding personnel capacities,
research and development activities and acquisitions. We deliberately
accepted the charge on operating earnings as a result of these investments
so as to further boost our long-term competitive position. In view of this,
we are satisfied with the development in the margin', remarked Carsten
Bovenschen, CFO of Roth & Rau AG.

Following the receipt of new orders amounting to EUR 195.6 million (2008:
EUR 269.7m), orders on hand showed only a moderate decline of 3.9 % from
EUR 213.0 million to EUR 204.7 million as of 31 December 2009. The high
volume of new orders in the fourth quarter of 2009 compensated virtually in
full for the weak order situation in the first nine months. The first weeks
of the new year also witnessed an improved climate in the sector. 'Demand
for both single equipment and turnkey production lines is noticeably
picking up once again. We expect to see further new orders in the coming
months, especially in Asia. We were able to significantly expand our
international service and sales network as well as our technology and
product portfolio in the past year, as a result of which we are now
superbly positioned for further growth in the global photovoltaics market',
added company CEO Dr. Dietmar Roth, underlining his optimism for the
current financial year.

The Group still stands on a solid financial foundation. The Roth & Rau
Group had liquid funds of EUR 66.0 million as of 31 December 2009, as well
as unutilised guarantee and credit lines amounting to around EUR 136
million. The Group secured additional financial leeway by executing a 10%
cash capital increase in February 2010, generating gross proceeds of EUR
35.9 million. 'We were able to place the new shares on the capital market
in a matter of a few hours. We see this as affirming our growth and
investment strategy, which we intend to uphold consistently in the current
financial year as well', commented Bovenschen.

The definitive figures for the 2009 financial year and a sales and earnings
forecast for 2010 will be published with the Annual Report on 31 March
2010.

About Roth & Rau AG:
Roth & Rau AG, based in Hohenstein-Ernstthal, has been one of the world's
leading suppliers of production equipment and innovative production
technologies for the photovoltaics industry for more than 10 years now. In
its photovoltaics segment, Roth & Rau focuses on providing antireflective
coating systems and turnkey production lines for use in the manufacture of
crystalline silicon solar cells. Further products include thermal
processing systems also used in the manufacture of crystalline silicon
solar cells, as well as coating systems and turnkey production lines for
the manufacture of thin film solar modules. Roth & Rau Microsystems, a
subsidiary located in the Wüstenbrand district, develops and produces
process systems for plasma and ion beam enhanced thin film and surface
processing methods tailored to customers' specific needs. The customers
served by this division particularly include companies in the semiconductor
industry, R&D departments in various other industrial sectors, research
institutes and universities. The portfolio of the Roth & Rau Group is
supplemented by software products in the field of systems management,
production monitoring and maintenance and service offerings. Roth & Rau
posted sales of EUR 272.1 million in the 2008 financial year. Sales for the
first nine months of 2009 amounted to EUR 159.5 million, with EBIT of EUR
13.1 million. The Roth & Rau Group had a total workforce of 857 employees
as of 30 September 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

05.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: 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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