Manz AG with positive earnings development in the first half of 2021

08/05/2021 07:30:00 CEST, Reutlingen EBITDA of 18.1 million euros significantly above previous year; EBIT more than doubled to 12.3 million euros | Revenues of 114.4 million euros slightly below previous year's level | High level of interest from customers in the automotive industry in solutions from Manz AG | Energy Storage segment with increasing momentum and revenue growth of almost 30 %

Manz AG, a globally active high-tech equipment manufacturer with a comprehensive technology portfolio, recorded revenues of 114.4 million euros in the first half of 2021. The 8.0 % decline compared to the same period of the previous year is mainly due to the interruption of work on the CIGS projects in the Solar segment caused by customers and an expected lower revenue level in the Contract Manufacturing segment. Overall, Manz AG recorded increasing momentum in its operating business over the course of the first half of 2021: revenues in the second quarter amounted to 63.5 million euros (previous year: 62.7 million euros), compared to 50.9 million euros in the first three months of 2021 (previous year: 61.6 million euros). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 18.1 million euros (previous year:  12.1 million euros), with an EBITDA margin of 15.2 %. Earnings before interest and taxes (EBIT) also improved significantly to 12.3 million euros (previous year: 5.7 million euros), corresponding to an EBIT margin of 10.4 %.

Martin Drasch, CEO of Manz AG, comments: ”The mobility revolution is rapidly gaining momentum. The automotive industry is therefore currently undergoing a fundamental transformation. More and more leading manufacturers have communicated the clear goal of eliminating the combustion engine from their product range in the next five to ten years. As a result, the required battery and production capacities will increase rapidly. As a high-tech equipment manufacturer with innovative and efficient production solutions for the manufacture of all common li-ion cell and module formats, we will benefit from this in the coming years. This is also reflected in the further increase in interest in our machines in the first half of 2021, which is reflected in a continuing good order situation and a pleasing development in sales and earnings in the Energy Storage segment.”

Looking at the individual segments, the Solar segment was significantly impacted in the first half of 2021 by the customer-related interruption of work on the CIGS projects in China. In the second quarter, the Electronics segment reflected the increasing business activities for display and FOPLP production equipment in Asia as well as the project progress for assembly solutions for cell contacting systems. The Service segment developed in line with expectations. The Contract Manufacturing segment made a significant contribution to the profitable result, also due to the earnings effect of around 14 million euros from the sale of shares in Talus Manufacturing Ltd. in the first quarter.

The Energy Storage segment showed dynamic development, although customers postponed investment decisions until the second half of 2021. Revenues and earnings increased significantly, while order intake remained at the high level of the prior year. The cooperation with GROB-WERKE GmbH & Co.KG concluded in April further improves the business prospects of both companies for production solutions for lithium-ion battery cells and modules for e-mobility. The success of Manz AG's consistent focus in the Energy Storage segment is also underscored by the European Commission's funding, also received in April, for the further development of lithium-ion battery technology as part of the Important Projects of Common European Interest ("IPCEI").

Thanks to the good order situation and the very positive prospects on the market for e-mobility, the Managing Board of Manz AG is optimistic about further business development in the current fiscal year and beyond. Across all segments, incoming orders totaled 124.2 million euros (previous year: 124.2 million euros). At 191.1 million euros, the order backlog was at an improved level compared to the same period of the previous year (previous year: 167.5 million euros). 

Revenues, EBITDA and EBIT H1 2021 year-on-year

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