Manz Automation AG significantly exceeds forecasts for 2007

02/25/2008 07:38:00 CET

Revenues up around 63% to € 71.3 million

  • EBIT doubled to more than € 10 million
  • Net income almost triples to € 8.3 million
  • Revenue forecast for 2008: € 175 – 180 million with high profitability

Manz Automation AG is one of the world's leading producers of automation, quality inspection and laser process technology for the photovoltaic and LCD industry and recorded significant sales and profit growth last fiscal year. According to preliminary results, the Reutlingen-based high-tech engineering company lifted its revenues by around 63% from € 43.81 million last year to € 71.25 million. The growth in total operating revenue was even more significant – up around 84% to € 81.45 million (previous year: € 44.24 million).

The group's profitability increased further, in particular as a result of the economies of scale due to increased standardization as well as the technologically market leading position. EBIT more than doubled from € 4.85 million to more than € 10 million. In terms of revenues, this corresponds to an EBIT margin of 14.1%. EBIT was also boosted by the Manz group's increased productivity. EBT soared 158% from € 4.10 million to € 10.55 million. Manz Automation's net income also nearly tripled to € 8.26 million, compared to € 2.78 million last year. This corresponds to earnings per share of € 2.41 (previous year: € 1.77).

The equity ratio also improved to 63.8%, thus offering substantial potential for financing future growth. Manz Automation recorded a cash flow from operating activities totaling € 3.9 million (previous year: € 2.5 million). As Chr. Majer GmbH & Co. KG, a company acquired in December 2007, will only be consolidated from January 1, 2008, the KPIs thus show the significant growth in the Reutlingen-based high-tech engineering company's operations.

DCEO Dieter Manz is very pleased with the results: "Our figures reflect the dynamic growth on the photovoltaic market. We recorded revenues of more than € 51 million in our division alone – up more than 170%. Through our current increase in capacities in Reutlingen as well as the fast integration of the recently acquired companies in Tübingen and Slovakia we will record substantial growth in the current fiscal year!"

The Managing Board is forecasting organic growth to almost double to € 135 – 140 million in fiscal year 2008. If the recently acquired companies in Tübingen and Slovakia are included, the anticipated volume of revenues increases to € 175 – 180 million. According to current forecasts, in fiscal year 2008 Manz Automation aims parallel this year's EBIT margin of 14% (without new acquisitions) or 12% including acquisitions, which corresponds to an EBIT of € 21.5 to 22.5 million. These forecasts are supported by a continued very robust order book, currently totaling around € 114 million and a very dynamic market environment.

The full figures for fiscal year 2008 will be published together with the annual report on April 30, 2008.

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