Manz Automation AG / Half Year Results
13.08.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Revenues in H1 2008 more than triple to 101.6 million
- EBIT up more than 210% to around 12.0 million
Reutlingen, August 13, 2008. The Manz Group successfully continued its
dynamic on-track growth in the first half of 2008. The high-tech
engineering company lifted its revenues from 28.07 million in the first
half of 2007 by more than 260% to 101.60 million. Growth was again driven
by the systems.solar division, where Manz recorded revenues of
59.05 million (previous year: 17.63 million). In addition, the
systems.lcd segment also enjoyed substantial growth with revenues of
17.52 million (previous year: 4.98 million), which was also due to the
subsidiary Intech Machines Co., Ltd., consolidated for the first time in
the second quarter of 2008. At the same time, the group's total operating
revenue increased to 102.44 million, more than triple the figure in H1
2007 ( 30.94 million).
In the first six months, EBIT also climbed significantly by around 210% to
12.02 million (previous year: 3.88 million). Compared to revenues, Manz
Automation recorded an EBIT margin of 11.8% compared to 13.8% last year.
The anticipated short-term dilution of the EBIT margin is due, in
particular, to the consolidation of acquired companies and their existing
product ranges. The capacity used for these lower-margin products will be
used for high-profit solar applications during the course of the group's
further growth. Pre-tax earnings (EBT) were up by 7.53 million to
11.38 million (previous year: 3.85 million). This resulted in net
income for the period of 8.43 million compared to 2.40 million last
year. This corresponds to earnings per share of 2.41 (previous year:
0.73). Taking the strong expansion of the group's operating business into
account and the associated requirements for working capital, the cash flow
from operating activities totaled -1.2 million (previous year:
5.08 million).
As a result of the sustained growth, the Managing Board has reconfirmed its
revenue forecast of 235 240 million for fiscal year 2008. The Managing
Board is also forecasting a sustained increase in EBIT.
'We are very pleased with the strong first half of 2008. In addition to
integrating the companies we have acquired and the associated increase in
capacity, our recent capital increase has laid the foundations for
sustained dynamic growth. Moreover, we have concluded new, landmark
strategic alliances and will further increase the vertical integration in
our production lines. This will reinforce our position on the market,
allowing us to also benefit from opportunities for growth in Germany and
abroad,' commented CEO Dieter Manz.
The full report for the first half of 2008 can be downloaded from
www.manz-automation.com in the Investor Relations section.
Company Profile
Reutlingen-based Manz Automation AG (ISIN: DE000A0JQ5U3) is one of the
worlds leading technology providers in terms of market shares for systems
for automation, quality assurance and laser process technology for the
photovoltaic industry and for automation and wet chemicals for the LCD
industry. The Manz Group's core competences are in robotics, image
processing, laser technology, wet chemicals as well as control and drive
technology. The Manz Group's key strategic divisions are photovoltaic
(systems.solar), LCD (systems.lcd) and OEM systems (systems.aico) for
automation in various industrial sectors and the life science industry. The
Manz Group has sales and service branches in Germany, Taiwan, the USA,
China, South Korea, India and Spain. In addition, the Manz Group has its
own production facilities in Germany, Slovakia, Hungary, Taiwan and China.
The Manz Group recorded revenues of 71.2 million in fiscal year 2007 with
an EBIT margin of 14.1%. More than 57% of revenues were generated abroad,
in particular in Asia. The Manz Group recorded revenues of 101.6 million
and an EBIT margin of 11.8% in the first half of fiscal year 2008.
Investor relations contact
Manz Automation AG
Birte-Christina Benecke
Phone: +49 (0)7121 9000-21
Fax: +49 (0)7121 9000-99
E-Mail: bbenecke@manz-automation.com
cometis AG
Ulrich Wiehle
Phone: +49 (0)611 205855-11
Fax: +49 (0)611 205855-66
E-Mail: wiehle@cometis.de
DGAP 13.08.2008
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Language: English
Issuer: Manz Automation AG
Steigäckerstraße 5
72768 Reutlingen
Deutschland
Phone: +49 (0)7121 9000 915
Fax: +49 (0)7121 9000 99
E-mail: mhipp@manz-automation.com
Internet: www.manz-automation.com
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Düsseldorf
End of News DGAP News-Service
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DGAP-News: Manz Group continues to enjoy on-track growth in H1 2008
| Source: EQS Group AG