Manz Automation AG / Quarter Results
10.11.2008
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 the first nine months of 2008 more than triple to 159.1
million
- EBIT up around 200% to 18.8 million
- Forecast for fiscal year 2008 confirmed
Reutlingen, November 10, 2008. Manz Automation AG, one of the world's
leading providers of technology for the photovoltaic and LCD industry, was
able to significantly increase both its revenues and earnings in the first
nine months of fiscal year 2008. The Manz Group increased its revenues from
46.76 million last year by more than 240% to 159.10 million. Growth was
driven in particular by the systems.solar division, where Manz recorded
revenues of 88.81 million (previous year: 32.64 million). In addition,
the systems.lcd division also enjoyed substantial growth with revenues
totaling 34.14 million (previous year: 5.81 million), in particular as
a result of Intech Machines Co., Ltd., which has been consolidated since
April 2008. At the same time, the group's total operating revenue increased
to 162.11 million, more than triple the figure in the first nine months
of 2007 ( 52.29 million).
In the first nine months, EBIT also climbed significantly by around 200% to
18.77 million (previous year: 6.28 million). In terms of revenues, Manz
Automation recorded an EBIT margin of 11.8%, compared to 13.4% last year.
The anticipated dilution in the EBIT margin is due to the consolidation of
the companies acquired in fiscal year 2008. Manz Automation plans to
further increase this margin in 2009 by successively transitioning its new
subsidiaries product ranges to more profitable solar products. EBT also
tripled from 6.44 million to 18.53 million. This resulted in net income
for the period of 14.09 million compared to 4.58 million last year.
This corresponds to earnings per share of 3.52 (previous year: 1.35).
As part of the strong revenue growth, the requirements for working capital
increased significantly, and the cash flow from operating activities
totaled -4.60 million (previous year: 7.39 million). Without taking the
changes in working capital into account, the cash flow totaled 18.24
million (previous year: 5.76 million).
The excellent order intake and the secure capacity uptake through to the
middle of 2009 mean that the Managing Board has reinforced its revenue
forecast of EUR 235 - 240 million for the whole of 2008. At the same time,
it aims to record an EBIT margin for full fiscal year 2008 that is
equivalent to the level recorded in the first nine months.
Dieter Manz, Manz Automation AG's CEO, is delighted with the first nine
months of 2008: 'We are very happy with our successful business growth. The
integration of the companies that the Manz Group has acquired is
progressing right on schedule. The capital increase has provided us with
very solid financing, with the result that we will be able to benefit from
growth opportunities on up-and-coming markets, such as the US, Arabian
countries and India thanks to our reinforced position.
The full report for the first nine months of 2008 can be downloaded from
www.manz-automtion.com in the Investor Relations section.
Company profile: Manz Automation AG
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 159.1 million
and an EBIT margin of 11.8% in the first nine months of fiscal year 2008.
Investor relations contact
Manz Automation AG
Stefan Sell
Tel.: +49 (0)7121 9000-896
Fax: +49 (0)7121 9000-99
E-Mail: ssell@manz-automation.com
cometis AG
Ulrich Wiehle
Tel.: +49 (0)611 205855-11
Fax: +49 (0)611 205855-66
E-Mail: wiehle@cometis.de
DGAP 10.11.2008
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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
Indices: TecDAX
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 Automation AG publishes 9-month figures for 2008
| Source: EQS Group AG