DGAP-News: Manz AG: Manz AG publishes 2012 annual report and forecast for 2013
(firmenpresse) - DGAP-News: Manz AG / Key word(s): Final Results
Manz AG: Manz AG publishes 2012 annual report and forecast for 2013
28.03.2013 / 07:37
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Manz AG publishes 2012 annual report and forecast for 2013
- Display and Battery divisions report record revenues
- Total revenue and EBIT burdened by continued solar crisis
- Solid liquidity position at positive operating cash flow and high
equity ratio
- Double-digit revenue growth and positive EBIT expected for 2013
Reutlingen, March 28, 2013 - Manz AG, one of the world's leading high-tech
engineering companies with an extensive technology portfolio in its three
strategic divisions 'Display', 'Solar' and 'Battery', has today published
its 2012 annual report. Following differing and partially contrary trends
in its individual divisions, the management takes an optimistic view on the
2013 financial year thanks to its current order backlog of around EUR 128
million. The Managing Board expects double-digit revenue growth in the
current financial year, and a positive result before interests and tax.
Dieter Manz, CEO and founder of Manz AG, summarises the previous financial
year as follows: 'We have continued on our dynamic growth path in our
Display and Battery divisions due to further increasing demand on the
end-customer market and industry's correspondingly high degree of
willingness to invest in new production equipment. Both divisions recorded
significant growth rates, achieving records in both revenue and
earnings in the past financial year. Our Solar division registered a sharp
drop in revenues due to the remained difficult situation in the solar
sector, although this was partially compensated by the positive trend in
other divisions. Despite reporting a decrease in overall revenues, our
extensive technological portfolio, our company's strategically diversified
orientation and our cross-sector technology transfer have proved successful
and correct.'
The company reported EUR 184.1 million of total revenues in the financial
year elapsed, compared with EUR 240.5 million in the previous year. In
terms of divisions, with EUR 111.3 million the largest share of revenues
was attributable to the Display division (previous year: EUR 98.5 million),
representing 12.9% year-on-year growth. Manz achieved revenues of EUR 14.5
million through the sale of lithium-ion battery production equipment, a
52.7% increase compared with the previous year's EUR 9.5 million. Only EUR
16.4 million was still attributable to the Solar division (previous year:
EUR 72.6 million), representing 8.9% of total revenues.
Existing capacities could not be fully utilised due to the significant drop
in revenues in the Solar division, resulting in negative earnings before
interests and tax (EBIT) of EUR -30.7 million (previous year: EUR 3.1
million). This result was sharply impacted by one-off extraordinary effects
of around EUR 17 million, which arose almost exclusively from the
crystalline photovoltaic area. These charges arise primarily from
devaluation of machineries in stock, capitalized development services as
well as bad debt losses from Chinese customers. After taking into account
the financial result, the company generated pre-tax earnings (EBT) of EUR
-32.4 million (previous year: EUR 2.2 million). The consolidated net profit
amounted to EUR -33.5 million (previous year: net profit of EUR 1.2
million), representing earnings per share of EUR -7.51 (previous year: EUR
0.19).
By contrast the operating cash flow reported a positive trend since most of
the special effects were not cash-effective and due to stock reductions the
cash flow from operating activities was at EUR 20.5 million (previous year:
EUR -17.4 million). Manz AG continues to enjoy a solid liquidity position
and a 52.6% equity ratio that is comparatively high in its sector.
For the 2013 financial year, the Managing Board again identifies
significant opportunities to boost the company's revenue and earnings
strength. Martin Hipp, Manz AG's CFO, commented as follows: 'We anticipate
that revenue will grow in a double-digit percentage range accompanied by
positive EBIT due to the very positive aspects in the displays area as well
as the market for electric vehicles and stationary electricity storage, the
resulting continued stable growth of our Display and Battery segments, and
our current order backlog of around EUR 128 million. In addition initial
indications of slight recovery in the photovoltaic market confirm us in
this assumption, although uncertainties still exist concerning the future
development. Overall, however, we regard ourselves as excellently
positioned to consistently exploit the opportunities on offer to us in all
our divisions in 2013.'
The full 2012 annual report can be downloaded from the company's website at
www.manz.com within the 'Investor Relations' area.
The most important financial figures at a glance:
In Mio. EUR 2012 2011 Change in %Company profile
Revenues 184.1 240.5 -23.5
Total operating revenues 188.9 266.8 -29.2
EBIT -30.7 3.1 n/a
EBT -32.4 2.2 n/a
Consolidated net profit -33.5 1.2 n/a
Earnings per share (in EUR) -7.51 0.19 n/a
Total assets 299.6 318.2 -5.9
Equity 157.4 189.3 -16.9
Equity ratio 52.6% 59.5% n/a
Financial liabilities 65.7 50.3 +30.6
Liquid assets 30.7 33.3 -7.8
Net debt 35.0 17.1 +104.7
Operating cashflow 20.5 -17.4 n/a
Cash flow from investments -39.1 -24.7 n/a
Cash flow from financing 15.8 36.3 -56.4
Manz AG - passion for efficiency
Manz AG, headquartered in Reutlingen, Germany, is one of the world's
leading high-tech engineering firms. Founded in 1987, in recent years the
company has grown from an automation specialist into a supplier of
integrated production lines. Manz has expertise in six fields of
technology: automation, laser processes, vacuum coating, screen printing,
metrology, and wet-chemical processes. These technologies are used and
developed in three strategic business areas: Display, Solar, and Battery.
The company, led by founder Dieter Manz, has been listed on the stock
exchange in Germany since 2006, and currently develops and manufactures in
Germany, China, Taiwan, Israel, Slovakia, and Hungary. Manz also has sales
and service offices in the United States, South Korea, and India. At the
beginning of 2013, Manz AG had approximately 1,850 employees, half of them
in Asia. With its slogan, 'Passion for Efficiency', Manz's engineers are
making a promise to offer its customers - all companies active in important
future markets - increasingly efficient production equipment. As an
engineering firm, the company plays a significant role in reducing the cost
of manufacturing end products, making these products available to large
groups of buyers worldwide.
Investor Relations contact
cometis AG
Ulrich Wiehle / Claudius Krause
Phone: +49 (0)611 - 205855-28
Fax: +49 (0)611 - 205855-66
E-Mail: krause(at)cometis.de
Public Relations contact
Manz AG
Axel Bartmann
Phone: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-Mail: abartmann(at)manz.com
End of Corporate News
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Language: English
Company: Manz AG
Steigäckerstr. 5
72768 Reutlingen
Germany
Phone: +49 (0) 7121 9000-0
Fax: +49 (0) 7121 9000-99
E-mail: info(at)manz.com
Internet: http://www.manz.com
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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205446 28.03.2013
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