Manz AG / Key word(s): Final Results
24.02.2015 08:11
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Manz AG: Non-recurring negative special effects in the amount of EUR 33.2
million hold down earnings before interest and taxes for 2014 / Significant
improvement in earnings expected for 2015
Reutlingen, February 24, 2015 - Manz AG, one of the world's leading
high-tech equipment manufacturers with an extensive technology portfolio
covering the three strategic business segments of "Display," "Solar" and
"Battery," is publishing its preliminary figures for the 2014 fiscal year
today. According to the figures, the company could increase its revenues
from EUR 266.2 million by 15% to around EUR 306 million. Non-recurring
negative special effects resulted in earnings before interest and taxes
(EBIT) of EUR -32.8 million. Adjusted for these effects, Manz achieved
earnings before interest, taxes, depreciation and amortization (EBITDA) in
operating business of EUR 24.9 million (previous year: EUR 27.0 million)
and positive adjusted earnings before interest and taxes (EBIT) of around
EUR 0.5 million (previous year: EUR 3.1 million).
As a result of the insolvency of GT Advanced Technologies Ltd. (GTAT), an
Apple supplier and manufacturer of sapphire glass for smartphones, net
receivables in the amount of EUR 2.5 million were written off. Since so far
it has not been possible to come to a final agreement as to the further
utilization of the equipment, a large portion of the net receivables was
written off for reasons of caution. In the Battery segment, a project could
not be terminated due to a fundamental change of strategy of a German
automobile manufacturer resulting in a non-recurring negative special
effect of EUR 4.0 million. For strategic purposes, Manz decided, rather
than entering into a court dispute with the customer, to determine the
project and to shift the unused capacities to new projects in the Consumer
Electronics segment. And finally, the Managing Board resolved, in close
consultation with the Supervisory Board, to recognize unscheduled
amortization on development costs in the solar segment. These costs relate,
for the most part, to the crystalline PV technology as well as, in some
cases, to the CIGS technology and came to a total of EUR 22.5 million.
For the full year of 2015, the Managing Board expects further growth in
revenues and, not least due to reduced capital investments and depreciation
in the solar segment, a clearly positive EBIT. The forecast revenues come
to between EUR 320 million and EUR 340 million.
Additional information:
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Ticker symbol: M5Z
Market segment: regulated market (Prime Standard) of the Frankfurt Stock
Exchange
Manz AG
Steigäckerstrasse 5
72768 Reutlingen, Germany
Germany
< End of the Ad-hoc Announcement>
Company profile:
Manz AG - passion for efficiency
As one of the world's leading high-tech equipment manufacturers, Manz AG,
based in Reutlingen, Germany, is a pioneer for innovative products in
fast-growing markets. The company, founded in 1987, has expertise in seven
technology sectors: automation, laser processing, vacuum coating, screen
printing, measurement technology, wet-chemical and roll-to-roll processing.
Manz deploys and further develops these technologies in three strategic
fields, the "Display," "Solar" and "Battery" business segments.
The company, led by founder Dieter Manz and listed on the stock exchange in
Germany since 2006, currently develops and produces in Germany, China,
Taiwan, Slovakia, Hungary and Italy. It also has sales and service branches
in the USA and India. In the middle of 2014, Manz AG had approximately
1,900 employees, around half of which are employed in Asia. With its claim
"passion for efficiency," Manz gives its clients, who are active in dynamic
industries of the future, its performance promise: to provide production
solutions with the highest level of efficiency and innovation. Thanks to
its extensive expertise in the development of new production technologies
and the required equipment, Manz AG contributes substantially to lowering
the production costs of end products and making them available to large
buyer groups worldwide.
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
Manz AG
Axel Bartmann
Tel.: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-mail: abartmann@manz.com
24.02.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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@manz.com
Internet: http://www.manz.com
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Indices: TECDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Manz AG: Non-recurring negative special effects in the amount of EUR 33.2 million hold down earnings before interest and taxes for 2014 / Significant improvement in earnings expected for 2015
| Source: EQS Group AG