02/27/2007 07:35:00 CET
Sales and EBIT up almost 50%
- Net income increases by 60% to € 2.8 million
- Growth rate of at least 25% forecast for fiscal year 2007
Manz Automation AG is one of the world's leading producers of automation, quality assurance and laser process technology for the photovoltaic and LCD industry and recorded substantial sales and profit growth last fiscal year. According to preliminary figures, sales soared to € 43.8 million, up 49.5% year-on-year (€ 29.3 million). EBIT was also up by around 50% from € 3.3 million to € 4.9 million. The high-tech engineering company booked net income of € 2.8 million, up by around 60% compared to fiscal year 2005.
CEO Dieter Manz is very pleased with this growth: “Our figures reflect the dynamic developments on the high-growth photovoltaic market. That makes us confident that we will be able to grow again substantially this fiscal year!” In total, the systems.solar division made an above average contribution to Manz Automation AG’s growth, with a share of 43% of total sales. The systems.lcd division accounted for 33% of sales, and systems.aico accounted for 24%.
The company recorded a cash flow from operating activities of € 2.5 million in fiscal year 2006 (2005: € 3.3 million). This is down slightly year-on-year as a result of the significant increase in working capital required as a result of the dynamic growth. Equity enjoyed a substantial improvement, increasing to € 21.7 million, in particular as a result of the capital increase as part of the IPO. This corresponds to an equity ratio of 53%. That means that Manz Automation’s enjoys highly stable capitalization to finance further growth. As a result of the continued high order book of around € 45 million, the Managing Board expects that sales will increase by at least 25% to € 55-58 million. In addition, the company is forecasting a double-digit EBIT margin. As a result of the increasing proportion of series equipment for the photovoltaic market, the Managing Board believes that there is further potential to increase Manz Automation’s profitability at an above-average rate.