DGAP-News: Manz AG achieves continued revenue growth in the first nine months of 2011 and further boosts profitability
(firmenpresse) - DGAP-News: Manz AG / Key word(s): Interim Report
Manz AG achieves continued revenue growth in the first nine months of
2011 and further boosts profitability
14.11.2011 / 07:58
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- Revenues up by around 60 % to EUR 192 million
- Operating earnings (EBIT) increases to EUR 3.8 million
- Solid order book position of around EUR 80 million (as of end of
September 2011)
- Record year expected for Flat Panel Displays segment
Reutlingen, November 14, 2011 - Manz AG, one of the world's leading
providers of production systems for the photovoltaic and Flat Panel Display
(FPD) industry, generated EUR 192 million of revenues in the first nine
months of 2011, representing 58 % growth compared with the previous year's
figure of EUR 121.3 million. Total operating revenues of EUR 217.9 million
reflected 64.4 % growth compared with EUR 132.6 million in the previous
year. The primary growth driver in the period under review was the FPD
segment, although the New Business segment, which focuses on lithium-ion
batteries, also reported very good growth. The Solar segment performed
below expectations in the first nine months, however. The record level that
FPD achieved, and the greater progress recorded in the New Business
segment, could only partially compensate for this.
The company was able to significantly improve its earnings before interest
and tax (EBIT) of EUR 3.8 million in the first nine months of 2011
(previous year: EUR -3.3 million). The net financial result of EUR -0.5
million was below the previous year's figure of EUR 0.2 million. As a
consequence, earnings before tax (EBIT) increased to EUR 3.2 million,
compared with EUR -2.1 million in the comparable period of the previous
year. This in turn fed through to consolidated earnings after tax and
minority interests of EUR 2.5 million (previous year: EUR -1.7 million).
Given an average number of 4,480,054 shares outstanding, this corresponds
to earnings per share of EUR 0.56 (previous year: EUR -0.38). Due to the
significant improvement in the operating business, and the consequent
increase in working capital requirements, operating cash flow amounted to
EUR -15.1 million (previous year: EUR -5.8 million).
The current situation for the solar segment has prompted Manz to adjust its
forecasts for this fiscal year. The Management Board is now expecting
revenues of between EUR 220 million and EUR 230 million, and between
breakeven and a slightly positive result in terms of earnings before
interest and tax (EBIT). The company had previously anticipated revenues of
between EUR 240 million and EUR 250 million, and an EBIT margin of at least
5 %. The adjustment was primarily made due to outstanding orders and
initial project postponements, as well as cancellations, to a minor extent,
for solar equipment. The company was unable to compensate for this trend,
despite the very good developments in the FPD and New Business segments,
particularly with lithium-ion batteries. Due to the current high level of
volatility on the solar market, the company is also assuming that
propensity to invest will remain low in the first half of 2012, with a
focus primarily on upgrades to existing lines. The FPD segment will
continue to report good trends next year, according to current
expectations. The future market of e-mobility will retain its enormousimpact on the New Business segment, which prompts Manz to expect
significant growth rates in this area.
Dieter Manz, CEO of Manz AG, commented on the first nine months of 2011 as
follows: 'The crisis on the solar market shows that, also during turbulent
periods, we continue to stand on a solid foundation thanks to our
diversified positioning, and our concentration on three sectors. Dieter
Manz went on to add: 'The forthcoming record year in the FPD segment, in
particular, underscores the major growth opportunities that we enjoy as a
technology and innovation leader. Our New Business segment also highlights
the enormous potential that e-mobility offers us.'
The complete 2011 nine-month report can be downloaded from today from the
company's website at www.manz.com, within the 'Investor Relations' area.
Manz AG - passion for efficiency
Manz AG, headquartered in Reutlingen, Germany, (ISIN: DE000A0JQ5U3) 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 for crystalline solar cells and
thin-film solar modules, as well as lines for manufacturing flat panel
displays. One of its newest areas of business is the development and
manufacture of production systems for lithium-ion batteries. The company,
led by founder Dieter Manz, has been listed on the stock exchange in
Germany since 2006, and currently operates production facilities in
Germany, China, Taiwan, Slovakia, and Hungary. At the end of the third
quarter 2011, Manz AG had approximately 1,950 employees, 900 of which work
in Asia. With its new 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.
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 AG
Axel Bartmann
Tel.: +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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14.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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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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