Manz AG: Stable business development with high momentum from the e-Mobility market in the first nine months of 2021

11/09/2021 07:30:00 CET, Reutlingen EBITDA of 17.7 million euros and EBIT of 8.7 million euros slightly above the previous year's level | Revenues of 163.6 million euros around 5% below previous year's level | High demand from the automotive industry leads to an increase in revenues of almost 25% in the Energy Storage segment | Order backlog at 188 million euros around 10 million euros above previous year's level

Manz AG, a globally active high-tech equipment manufacturer with a comprehensive technology portfolio, recorded revenues of 163.6 million euros in the first nine months of 2021, compared to 172.4 million euros in the same period of the previous year. The decline is due, on the one hand, to the interruption of work on large-scale solar projects caused by customers and, on the other hand, to a lower revenue level in the Contract Manufacturing segment, as expected. On the earnings side, Manz AG was able to record a slight improvement compared to the previous year due to the positive one-off effect from the sale of the shares in Talus Manufacturing Ltd. and the positive earnings contribution from the Energy Storage and Service segments. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 17.7 million euros (previous year: 17.6 million euros), while earnings before interest and taxes (EBIT) of 8.7 million euros were also above the previous year's figure of 8.2 million euros.

Martin Drasch, CEO of Manz AG, commented: "In the first nine months we saw very different developments in our segments. While Solar in particular had a significant negative impact on our business development, we recorded a very pleasing trend in the Energy Storage segment with an increase in revenues of around 25% and a positive contribution to earnings. Although the high business momentum from e-Mobility temporarily slowed down in the third quarter due to customer investment postponements, the market picked up again at the beginning of the fourth quarter. With our innovative and efficient production facilities for the manufacture of all common li-ion cell and module formats, we are therefore in a very good position to support OEMs and suppliers in the mobility transition. We are therefore also very proud that we have been awarded the contract by the BMW Group to set up a pilot line for battery production in Parsdorf."

Looking at the individual segments in the first nine months of 2021, the Solar segment was significantly affected by the interruption of work on the CIGS projects in China caused by customers. The Electronics segment was characterised in the first nine months of 2021 by the positive development of demand for production equipment for the manufacture of displays and an innovative packaging solution for microchips (Fan-Out Panel Level Packaging). However, the result was burdened by exchange rate changes and challenges in the final acceptance of a project for a Tier 1 automotive supplier, which have been resolved in the meantime. The Service segment developed in line with expectations and made a correspondingly positive contribution to the result. The Contract Manufacturing segment was also able to make a significant contribution to Manz AG's profitable result thanks to the earnings effect from the sale of the shares in Talus Manufacturing Ltd. despite an expected weaker revenue trend. In the Energy Storage segment, the business momentum that has continued since the beginning of the year slowed down slightly in the third quarter due to postponements in customers' investment decisions. However, revenues developed very positively with growth of 24.3% in the first nine months of 2021 compared to the same period of the previous year.

Against this backdrop, as well as due to the overall positive outlook for the industry, particularly in the e-mobility market, the Managing Board continues to assume that Manz AG will grow profitably in 2021. This assumption is additionally supported by the order backlog, which at 188.4 million euros was at an improved level compared to the same period of the previous year (previous year: 177.0 million euros).

Revenue, EBITDA and EBIT 9M 2021 year-on-year

The full report for the first nine months of 2021 is available for download from today on the company's website www.manz.com in the Investor Relations / Publications section.