Manz AG: Adjustment of revenue and earnings expectation for fiscal year 2011
The management has assumed to date that it can conclude the fiscal year 2011 with revenues of between EUR 240 million and EUR 250 million and to achieve an EBIT margin of at least 5 percent. This was nevertheless subject to the precondition that there would be no further deterioration in the overall macroeconomic and sector-specific conditions over the remainder of the year. The adjustment to the forecast is attributable to trends in the photovoltaic segment, where outstanding orders, initial project postponements and cancellations have been registered to a minor extent for solar equipment. By contrast, the Flat Panel Display (FPD) and New Business segments, which focus on lithium-ion batteries, lie ahead of the Management Board's original expectations, although this is unable to fully compensate for the trend in the photovoltaic segment.
Manz AG, headquartered in Reutlingen, Germany, (ISIN: DE000A0JQ5U3) is one of the world's leading high-tech engineering firms. Founded in 1987, in recent years the company has grown from an automation specialist into a supplier of integrated production lines for crystalline solar cells and thin-film solar modules, as well as lines for manufacturing flat panel displays. One of its newest areas of business is the development and manufacture of production systems for lithium-ion batteries. The company, led by founder Dieter Manz, has been listed on the stock exchange in Germany since 2006, and currently operates production facilities in Germany, China, Taiwan, Slovakia, and Hungary. At the end of the second quarter, Manz AG had approximately 1,900 employees, 800 of which work in Asia. With its new slogan "Passion for Efficiency," Manz's engineers are making a promise to offer its customers - all companies active in important future markets - increasingly efficient production equipment.