Further upgrade to revenue forecast after positive Q3 2013

11/11/2013 17:28:00 CET

  • Revenue after nine months of 2013 already ahead of 2012 total revenue
  • Revenue growth of around 44% to EUR 213.0 million during first nine months
  • EBIT of EUR 5.2 million confirms profitable growth trend
  • Record revenue of between EUR 260 million and EUR 270 million forecast along with positive EBIT

Manz AG, one of the world's leading high-tech engineering companies with an extensive technology portfolio in its three strategic business units "Display", "Solar" and "Battery", has today published its results for the first nine months of 2013. Following positive business progress during the first half of 2013, Manz AG continued this trend during the third quarter. During July and September 2013, Manz generated EUR 75.2 million of revenue, thereby lifting total revenue in the first nine months of 2013 by 44.2% to EUR 213.0 million (previous year: EUR 147.7 million). As a consequence, the company generated the highest revenue level in its history during the first three quarters, and is already significantly (16.0%) ahead of its revenue level for the full 2012 year. Despite large investments in the solar segment earnings before interest and tax (EBIT) also registered a considerable year-on-year increase of around EUR 8.7 million to reach EUR 5.2 million, representing a 2.4% EBIT margin (previous year: EUR -3.5 million). The consolidated net result also improved markedly year-on-year as a consequence, standing at a profit of EUR 0.4 million (previous year: EUR -7.3 million). As a result of this positive business trend, Manz AG is increasing its revenue forecast for the full 2013 year up to between EUR 260 million and EUR 270 million, accompanied by continued profitability at the EBIT level.

Dieter Manz, CEO and founder of Manz AG, expressed his great satisfaction with this corporate development: "The positive revenue and earnings trend for the third quarter reflects the sustainability of our business success. Especially given the high level of our investments in the future technology of photovoltaics, the EBIT of EUR 5.2 million reflects the strength of our business model. Our EBIT margin even is above 10% when adjusted for this figure. We identify excellent opportunities for continued profitable corporate growth over the coming years with our strong market positioning as one of the world's leading high-tech engineering companies in the display sector, and the marked upside potential in promising future growth markets for photovoltaics and lithium-ion batteries."

The driving factor behind this throughout positive trend is the successful implementation of the diversification strategy through which the business model of Manz AG has gained additional stability, and which has opened up new growth opportunities for the company. The high-growth Display segment proved very successful during the first nine months of 2013 in this context. As an established and sought-after high-tech engineer in the display sector, Manz AG delivers to numerous Asian electronics industry suppliers as well as renowned and globally-leading smart phone and tablet manufacturers. In the future market for lithium-ion batteries, not least the order received in the third quarter from the renowned Centre for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW) for a research production line underscores the strong position of Manz AG as Germany's leading engineering company in this market.

In terms of operating segments, the greatest revenue share was generated in the Display segment in the first nine months of 2013 at EUR 139.3 million, or 65.4% (previous year: EUR 94.0 million). This represents 48.2% year-on-year revenue growth. Manz achieved revenue of EUR 7.4 million through the sale of lithium-ion battery production equipment, an 18.6% increase compared with the previous year's EUR 6.2 million. Revenue of EUR 7.5 million was generated in the Solar segment (previous year: EUR 14.9 million). A total of EUR 45.5 million was attributable to the Printed Circuit Boards/OEM reporting segment (previous year: EUR 19.4 million) and EUR 13.4 million to the segment Others (previous year: EUR 13.2 million).

With a look to the future, Dieter Manz believes that the company is pursuing an optimal course: "At prospectively EUR 260 million to EUR 270 million, we will achieve record revenue during this financial year. At the same time, we have created the essential preconditions for sustainable and profitable growth with our corporate strategy and our internal processes to optimise costs and structures. Our long-term objective is to again generate double-digit EBIT margin – and given our current business growth, our strong market position and excellent prospects in all three strategic target sectors, we are confident that we will also achieve this. In order to strengthen our newest segment Battery, in particular, we also not exclude an acquisition in this area."

The full report for the first nine months of 2013 can be downloaded from the company's website at www.manz.com within the "Investor Relations" Area.

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