Manz AG: Good start to the fiscal year with revenues up around 25% year-on-year and positive earnings

05/09/2023 07:30:00 CEST, Reutlingen Total revenues increase to EUR 76.4 million in Q1 2023 | 41.0% revenue growth in Industry Solutions segment reflects high demand for industrial assembly solutions | Mobility & Battery Solutions segment with solid revenue growth of 6.8% year-on-year | EBIT of EUR 5.4 million largely driven by positive earnings contribution from Industry Solutions segment

Manz AG, a globally active high-tech equipment manufacturer with a comprehensive technology portfolio, recorded a dynamic business growth in the first three months of 2023. Revenues increased by 25.5% to EUR 76.4 million, compared to EUR 60.9 million in the same period of the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) also improved significantly to EUR 8.3 million (previous year: EUR -2.0 million) and earnings before interest and taxes (EBIT) to EUR 5.4 million (previous year: EUR -4.8 million).

Martin Drasch, CEO of Manz AG, comments: "After the numerous challenges of 2022, we are pleased with an overall good start to the fiscal year 2023. Even though the growth momentum in the Mobility & Battery Solutions segment temporarily weakened slightly in the first quarter due to postponements of customer investments and changes in the industrial policy environment, we were able to achieve even stronger revenue growth in the Industry Solutions segment. Due to the great potential of our production solutions for the electromobility market, we are thus optimistic about the rest of the fiscal year 2023 despite ongoing challenges in Europe."

In the Mobility & Battery Solutions segment, revenues grew to EUR 29.3 million in the first three months of 2023, which represents a solid increase of 6.8% compared to the previous year. As part of the strategic partnership with Daimler Truck, Manz AG received an order in the mid double-digit million euro range in March 2023 for equipment to manufacture electrodes and assemble battery cells. In addition, a factory acceptance test was successfully completed for a manufacturer of energy storage systems in the first quarter of 2023. Taking into account a one-off effect, segment EBIT amounted to EUR 0.4 million, compared with EUR -5.5 million in the previous year. The effect of around EUR 5.7 million resulted from the swap of shares in the associated company Customcells Tübingen GmbH for a stake in its parent company, Customcells Holding GmbH.

In the Industry Solutions segment, Manz AG achieved significant revenue growth of 41.0% with revenues of EUR 47.1 million (previous year: EUR 33.4 million), which can be attributed in particular to the Industrial Automation business area. For example, in addition to the successful start of production at a U.S. OEM customer in the automotive sector and the successful customer acceptance of an assembly line for cell contacting systems, Manz also made great progress in the customer project with Ambient Photonics for a production line for organic solar cells. A positive development can also be observed for the Fan-Out Panel Level Packaging (FOPLP) area. The subsidy program for FOPLP approved by the Taiwanese government in the first quarter of 2023 will accelerate the development of this innovative packaging process and thus increase the international competitiveness of the technology in the long term.

Despite the still challenging economic conditions, Manz AG is confident about the current fiscal year. Incoming orders as of March 31, 2023, decreased from EUR 106.9 million to EUR 46.3 million compared to the previous year. However, the order backlog as of the same date was EUR 306.7 million and thus significantly above the previous year's level (March 31, 2022: EUR 273.2 million). Against the backdrop of the overall positive outlook for the industry, the Management Board continues to expect profitable growth for Manz AG in 2023.

Revenues, EBITDA and EBIT Q1 2023 in comparison to the previous year

The full report for the first three months of 2023 is available for download from today on the company's website www.manz.com in the Investor Relations / Publications section.