Manz AG: Positive outlook for the full year 2012 despite modest first quarter
Overall revenues at EUR 44.1 million impacted by low order situation in the previous quarter Operating profit (EBIT) slips to EUR -4.9 million Continuing dynamic growth in the FPD (Flat Panel Display) segment with revenues up by around 59% at EUR 21.4 million Strong order book worth over EUR 104 million (as of end of March 2012)
Reutlingen, May 11, 2012 – Manz AG, one of the leading suppliers of production systems for
the photovoltaic and flat panel display (FPD) industries, generated sales revenues of EUR
44.1 million in the first three months of 2012. This represents a decline of 28.9% relative to
the figure of EUR 62.0 million booked in the same quarter last year. Aggregate performance
at EUR 46.6 million was down 28.7% compared with last year’s EUR 65.4 million. The
modest start into fiscal year 2012 is due to the high revenues and the low level of orders
received in the final quarter of 2011.
Nevertheless Dieter Manz, CEO of Manz AG, takes a positive view of the prospects for the
current financial year: “As expected in view of the low shipment of sold machines in the first
two months and the ongoing difficult situation on the market for the photovoltaic industry, our
results for the first quarter were negative. Thanks to the strong order intake in our FPD and
lithium-ion business areas in the first three months, however, our production capacities are
currently very well filled. Due to the sustained strong order intake and the positive prospects
for growth especially for Touch panels in Smart phones and Tablet PCs as well as for lithiumion-batteries
for the E-mobility sector and stationary energy storage, we assume overall
revenues
in 2012 to be on the previous year’s level. Depending
on the development
in the
solar
industry
we
are confident
to
surpass this target considerably. As a result of the
implemented
measures for cost reduction
we expect
a significant positive
EBIT in 2012.
Particularly
with ‘non-solar’ orders now accounting
for over 90%
of our order
book which is
valued
at more than EUR 104 million, we have a highly positive
outlook
for the
months
ahead.”
Revenues in the reporting period were driven primarily by the FPD segment where revenues
were 58.5% higher at EUR 21.4 million (previous year EUR 13.5 million). Manz AG has been
successful in redeploying capacities in the photovoltaic segment to manufacture products for
the FPD industry, thereby stabilising utilisation. In its solar segment, Manz AG recorded a
substantial downturn in sales of 53.3% relative to the same period last year. Revenues
amounted to EUR 11.7 million (previous year: EUR 25.1 million).
In the first three months of 2012 Manz AG recorded negative earnings before interest and
taxes (EBIT) amounting to EUR -4.9 million (previous year: EUR 0.2 million). Financial
earnings at EUR -0.3 million were slightly lower than the previous year’s figure of EUR -0.1 million. Consequently earnings before taxes (EBT) declined to EUR -5.2 million, compared
with EUR 0.1 million in the same period last year. Consolidated income after taxes and
minority interests amounted to EUR -5.4 million (previous year: EUR -0.7 million). With an
average of 4,480,054 shares in circulation, this equates to earnings per share of EUR -1.20
(previous year: EUR -0.16).
In the current market development Dieter Manz also sees indicators confirming the
company’s strategy: “Our broad technology portfolio has enabled us to successfully
implement our strategy of diversification and access new growth markets. As a result, our
business model is now more resistant than ever to cyclical fluctuations in individual sectors.
This is evidenced both by the high level of orders received, as well as by the positive
development in sales and EBIT in our FPD and New Business segments. The first tangible
successes will appear in our results for the coming months. What’s more, we also expect that
in the months ahead the solar industry will begin to bounce back. In this segment, too, we
expect additional orders in the second half of 2012.“
The full Q1 2012 report can be downloaded from today onwards from the Investor Relations
section of the company’s website at www.manz.com
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. Another area 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 beginning of 2012, Manz AG had
approximately 2.000 employees, 900 of which work 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.
Investor relations contact:
cometis AG
Ulrich Wiehle / Claudius Krause
Tel.: +49 (0)611 – 205855-28
Fax: +49 (0)611 – 205855-66
E-Mail: krause@cometis.de
Public relations contact:
Manz AG
Axel Bartmann
Tel.: +49 (0)7121 – 9000-395
Fax: +49 (0)7121 – 9000-99
E-Mail: abartmann@manz.com
