Manz Automation AG: Successful start into fiscal year 2007

Manz Automation AG, one of the world’s leading producers of automation solutions, quality assurance and laser process technology for the photovoltaic and LCD industry, has successfully started the fiscal year 2007. The Reutlingen-based high-tech engineering company was able to increase its sales in the first quarter from EUR 7.7 million by around 65% to EUR 12.7 million. Total output amounted to EUR 14.5 million (Q1 2006: EUR 10.3 million). Earnings before interest and taxes also soared in the first quarter of 2007 by 150% to EUR 1.8 million (Q1 2006: EUR 0.7 million). Decisive for the increase in the EBIT margin of 14% (Q1 2006: 9.1%) is the higher proportion of series equipment, especially for the rapidly growing photovoltaic segment. Manz Automation AG recorded earnings before taxes (EBT) of EUR 1.8 million in the first quarter of 2007. This reflects, among others, the substantially improved capital structure, which reduced the financial result to EUR (0.03) million. Consequently, the pre-tax margin rose to 13.7%.

In the first quarter, sales were mainly driven by the strong business on the home market. Manz Automation accomplished 57% of total sales in Germany thanks to the dynamic growth of the photovoltaic market. The Asian countries contributed around 28% to total sales. As a result of the strong order inflow and the adherent need for working capital, the operating cash flow amounted to EUR (1.4) million. Due to the positive business development, management confirms the guidance to generate sales of EUR 60 - 63 million in fiscal year 2007 and to reach earnings before interest and taxes of EUR 6.0 - 6.5 million.

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