DGAP-News: Manz Automation AG with strong revenue growth and new orders totalling around EUR 50 million
(firmenpresse) - DGAP-News: Manz Automation AG / Key word(s): Quarter Results
Manz Automation AG with strong revenue growth and new orders totalling
around EUR 50 million
12.05.2011 / 07:59
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- Revenues almost tripled on year-on-year comparison to reach EUR 62.0
million; EBIT of EUR 0.2 million achieved
- Acquisition of new orders in the volume of around EUR 50 million; Order
backlog grows to more than EUR 150 million
- Manz awarded order for plants to produce electrochromic 'dynamic glass' -
Synergy effects from deployment of thin film technology
Reutlingen, May 12 2011 - Manz Automation AG, one of the world's leading
providers of production systems for the photovoltaic and flat panel display
(FPD) industry, almost tripled its revenue in the first three months of
2011. With the view to the upcoming months, all indicators point to further
growth, too. Thus it has been possible to win orders in the volume of
around EUR 50 million. Along with systems to produce touch panels,
automation and process systems for the manufacture of crystalline solar
cells, the company has successfully tapped synergy effects in the thin film
area with a first order from SAGE, a US manufacturer of dynamic window
glass that changes tint to optimize daylight and improve the human
experience within buildings. Overall, the order backlog of the company
meanwhile increased to more than EUR 150 million.
In the period under report Manz Automation generated revenues of EUR 62.0
million (previous year: EUR 21.3 million). In addition, total operating
revenues were boosted by more than 90% to reach EUR 65.4 million (previous
year: EUR 34.3 million). In sum, and particularly due to the significant
year-on-year operating improvement, Manz Automation achieved positive
earnings before interest and tax (EBIT) of EUR 0.2 million, following an
EBIT loss of EUR -3.3 million in the previous year. When taking a slightly
negative net financial result of EUR -0.1 million into account, earnings
before tax (EBT) stood at EUR 0.1 million (previous year: EUR -3.2
million). After deducting tax and minority interests, there was also a
marked improvement in the net consolidated loss to EUR -0.7 million
(previous year: EUR -2.7 million). The company also generated operating
cash flow of EUR -16.4 million during the first three months of 2011
(previous year: EUR -8.0 million). This change is primarily due to higher
working capital requirements as part of the business expansion, and a
reduction in trade payables.
Martin Hipp, CFO of Manz Automation, attributes the positive trend on both
the revenue and earnings sides to several factors: 'Along with a
significant expansion of our operating business, we are increasingly
benefiting from the cost-reduction measures that we successfully launched
during the past years, including in the purchasing function, for example,
as well as in the components standardisation area. The marked year-on-year
improvement in capacity utilisation in all of our business areas also
contributed to our return to the profitability zone.' Martin Hipp went on
to add: 'We are currently experiencing demand recovery across all business
areas. Along with the flat panel displays area, which is again on a record
path, the solar area is particularly strongly positioned. For the
SpeedPicker alone, which we developed in 2010, current order volumes amount
to a total of around 300 systems.'
Through the first order from SAGE, a new application to Manz's thin-film
production technology will be added. The manufacturing of this
energy-saving glass, utilises systems nearly identical to those for
producing thin film solar modules. The technology will be installed in the
world's largest and most advanced dynamic glass manufacturing plant that
SAGE is constructing in Minnesota with the Saint-Gobain Company from
France. With the help of Manz's technology, the new plant will be able to
produce dynamic glass in high volumes and in large commercial architectural
sizes at an affordable cost for the first time.
The companies selected Manz Automation as their partner due to Manz's many
years of expertise in thin-film production equipment. Manz will deliver its
complete product range to create a production line - ranging from laser
structuring, laser edge isolation, wet chemical cleaning systems to the
related automation. These orders comprise a total volume of around EUR 12.5
million. Manz hopes to win further orders from this area, which is still in
its infancy, and which is anticipated to generate dynamic growth. The
utilisation of glass that can be tinted according to requirements allows
enormous CO2 and cost savings to be made, particularly in warm regions. The
light permeability of a facade can be reduced in strong sunlight, thereby
drastically reducing the energy consumption of air conditioning systems,
for example.
Dieter Manz, CEO of Manz Automation AG, is also delighted about the final
establishment of the OneStep Selective Emitter technology in the
crystalline solar cell area: 'It is almost precisely one year to the day
since we delivered our first OneStep Selective Emitter to our pilot
customers. With the subsequent verification of this technology in a mass
production context, we have proved the new system's performance. This is
impressively underlined by new orders from Asia for the acquisition of
totally nine selective emitter production systems in combination with the
related automation, the SpeedPicker - entailing a total order volume of
around EUR 12 million that will become effective in terms of sales and
earnings in the current financial year.' With its OneStep Selective
Emitter, Manz is making a significant contribution to improving crystalline
solar cells' efficiency. A sustainable efficiency enhancement of 0.5
percentage points was proven during production. At the same time, the
process to generate selective emitters that Manz has developed offers the
by far lowest production costs, in the company's own assessment, and thus
helps to improve solar manufacturers' profitability.
The company also continues to benefit unabated from the high growth
dynamics in the touch panel technology area. Follow-up orders came from
major Asian manufacturers in the flat panel field. 'With the supply of wet
chemical cleaning systems and automation solutions, we are again
underscoring our strong market position in this region. Our production
capacities in the Far East are excellently utilised with individual orders
totalled EUR 15 million. Large order intakes in the reporting period are
responsible for a steady high order backlog, despite of already strong
revenues in the first quarter.
In view of the promising start to the current business year, the Managing
Board anticipates revenues of between EUR 240 million and EUR 250 million
for the full year, and an EBIT margin of at least 5%, thereby implying a
further profitability improvement. Depending on market trends in the thin
film technology area, there is also the potential to exceed the
aforementioned targets.
The complete 3M 2011 report can be downloaded from today from the company's
website at www.manz.com, within the section 'Investor Relations'.
Manz Automation AG - passion for efficiency
Manz Automation AG, based at Reutlingen/Germany (ISIN: DE000A0JQ5U3), is a
globally leading high-tech mechanical engineering company. The company,
which was founded in 1987, has developed over recent years from an
automation specialist into a provider of integrated production lines for
the photovoltaic industry (crystalline and thin film), and for the
manufacturing of flat screens. The development and manufacturing of
production systems for lithium-ion batteries comprises a new business area.
The Group of companies, which is managed by founder Dieter Manz, and which
has been listed on the Germany stock market since 2006, currently
manufactures in Germany, China, Taiwan, Slovakia and Hungary. There are
also distribution and service branches in the USA, South Korea, India and
Spain. The company employed around 1,900 staff as of the end of the first
quarter 2011, 850 of whom are located in Asia. Revenue in the past
financial year amounted to more than EUR 180 million. With their new
'passion for efficiency' claim, Manz express their service commitment to
provide ever more efficient production systems to their customers that
operate in important sectors of the future.
Investor relations contact:
cometis AG
Dominic Großmann
Tel.: +49 (0)611 - 205855-15
Fax: +49 (0)611 - 205855-66
E-Mail: grossmann(at)cometis.de
Public relations contact:
Manz Automation AG
Axel Bartmann
Tel.: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-Mail: abartmann(at)manz-automation.com
End of Corporate News
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Language: English
Company: Manz Automation AG
Steigäckerstr. 5
72768 Reutlingen
Deutschland
Phone: +49 (0) 7121 9000-0
Fax: +49 (0) 7121 9000-99
E-mail: info(at)manz-automation.com
Internet: http://www.manz-automation.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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124211 12.05.2011
Datum: 12.05.2011 - 07:59 Uhr
Sprache: Deutsch
News-ID 34056
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