Manz AG: Dynamic development in the Mobility & Battery Solutions segment generates strong revenue growth and significant increase in order intake in Q1 2022

05/05/2022 07:30:00 CEST, Reutlingen Revenues increased by almost 20% compared to the previous year to EUR 60.9 million | Mobility & Battery Solutions segment benefits from the dynamic development of the electromobility market with a 36.7% increase in revenues | Industry Solutions segment with solid revenue growth of 8.4% compared to the previous year | As expected, earnings burdened by various factors | Order intake of more than EUR 100 million in Q1 2022; order backlog of EUR 273.2 million significantly higher than in previous year

Manz AG, a globally active high-tech equipment manufacturer with a comprehensive technology portfolio, recorded very dynamic revenue and order development in the first three months of 2022. Revenues increased significantly to EUR 60.9 million after EUR 50.9 million in the same period of the previous year. This corresponds to an increase of 19.6%. As expected, the positive business development was not yet reflected in the earnings, in particular due to a negative special effect from an impairment in the course of a defaulted insolvency claim in the solar sector in the amount of EUR 1.2 million as well as overall increased material and personnel costs. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR -3.2 million in the first quarter of 2022 (previous year: EUR 14.3 million), earnings before interest and taxes (EBIT) amounted to EUR -6.0 million (previous year: EUR 11.5 million). The previous year's figures were positively influenced by the sale of shares in Talus Manufacturing Ltd. amounting to EUR 14.3 million.

Martin Drasch, CEO of Manz AG, comments: "The mobility transition is in full swing and the demand for additional battery and production capacities in the industry is immense. As a high-tech engineering company, we can benefit from this with innovative and efficient production equipment for the manufacture of all common li-ion cell and module formats. This is impressively demonstrated by the developments in the Mobility & Battery Solutions segment with a revenue increase of around 37% and a doubling of the order backlog to over EUR 180 million in the first quarter of 2022."

In the Mobility & Battery Solutions segment, revenues grew to EUR 27.4 million in the first three months of 2022, a significant increase of 36.7% compared to EUR 20.1 million in the previous year. However, material costs increased more than expected in the course of the general macroeconomic developments in the 2022 reporting period, while additional costs were also incurred during the commissioning of a customer project. As expected, personnel costs increased due to the build-up of highly specialized staff for the further development of battery technology on the one hand, and on the other hand due to additional resources for processing the very strong increase in incoming orders in recent months. This high level of interest from the e-mobility industry was reflected in the first quarter of 2022 in a strong order intake of EUR 41.7 million as well as an order backlog of EUR 183.9 million, which is around twice as high as in the previous year. Among other things, Manz was able to win one of the leading companies in the production of industrial batteries and energy storage systems from Southern Europe as a customer. The order comprises four lines for the assembly of battery modules made of prismatic cells. The modules produced on the lines are to be used in the commercial vehicle sector and for stationary energy storage.

In the Industry Solutions segment, Manz AG achieved growth of 8.4% year-on-year to EUR 33.4 million, which is primarily due to the high demand for production equipment from microchip production customers in the Electronics business area. In the first quarter, for example, Manz was able to convince another new customer of its capabilities and was awarded a contract by a leading manufacturer of semiconductors, which relies on Manz AG's innovative Fan-Out Panel Level Packaging (FOPLP) process for chip production. In terms of earnings, the segment was characterized by shifts in incoming orders for solutions in the Industrial Automation business area. However, due to the strong order intake in the first quarter of 2022 of EUR 65.2 million and the orders received in April in the mid-double-digit million-euro range, including from the new customer Ambient Photonics for production lines for organic solar cells, the business outlook has improved significantly, as expected. With the minority interest in MetOx Technologies, Inc., a specialist in the manufacture of superconductor wires, Manz has also opened up further growth potential in the Industry Solutions segment in the first quarter of 2022.

Thanks to the good order situation, Manz AG's future prospects remain positive. As of 31 March 2022, order intake amounted to EUR 106.9 million, compared to EUR 42.2 million as of the previous year's reporting date. The 2022 order backlog was EUR 273.2 million after EUR 170.1 million. Against this backdrop and due to the overall positive outlook for the industry, primarily in the market for electric mobility, the Management Board continues to assume that Manz AG will grow profitably in 2022.


Revenues, EBITDA and EBIT Q1 2022 in comparison to the previous year

In EUR million

Q1 2022

Q1 2021

Group Revenues



Mobility & Battery Solutions



Industry Solutions









Mobility & Battery Solutions



Industry Solutions






EBIT Group



Mobility & Battery Solutions



Industry Solutions



The full report for the first three months of 2022 is available for download from today on the company's website in the Investor Relations / Publications section.


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