Manz Automation AG: Significant growth in H1 2007

08/06/2007 07:30:00 CEST

Total operating revenue up more than 50% to € 30.94 million

  • EBIT up 63% to € 3.88 million

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 again recorded substantial growth in the first six months of 2007. According to preliminary results, the Reutlingen-based high-tech engineering company increased sales from € 20.00 million in H1 2006 to € 28.07 million. Total operating revenue increased by around 52% to € 30.94 million (previous year: € 20.38 million).

In the first six months, EBIT also climbed significantly by more than 63% to € 3.88 million (previous year: € 2.37 million). The EBIT margin, which has increased to 13.8% (previous year: 11.9%), is primarily due to the increasing standardization of the equipment produced, in particular in the high-growth solar sector. Especially in this segment Manz Automation has been able to set international trends and standards. Compared to H1 2006, pre-tax earnings (EBT) doubled to € 3.85 million (previous year: € 1.90 million). The pre-tax margin thus lifted to 13.7%. At the same time, Manz Automation's profits also doubled to € 2.40 million, compared to € 1.22 million in the first six months of the previous year. This corresponds to earnings per share of € 0.73.

The cash flow from operating activities also increased substantially to € 5.08 million (H1 2006: € -3.24 million). This is also due to the advance payments received for major orders. As a result of the continued high order book totaling more than € 80 million, the Managing Board has confirmed its forecast for 2007. Manz Automation aims to record increased revenues of € 65 – 68 million with EBIT of € 8.1 – 8.5 million.

The final H1 figures will be published together with the half-year report on August 24, 2007.

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