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Press release BoxID: 459488 (Manz AG)
  • Manz AG
  • Steigäckerstraße 5
  • 72768 Reutlingen
  • http://www.manz.com
  • Contact person
  • Axel Bartmann
  • +49 (7121) 9000-395

Manz AG: Adjustment of revenue and earnings expectation for fiscal year 2011

(PresseBox) (Reutlingen, ) At its meeting today, the Management Board of Manz AG has reduced its revenue and earnings expectations for current fiscal year due to the present market environment for solar equipment, and the related demand decline in the second half of the year. As a consequence, the Management Board now anticipates revenues of between EUR 220 million and EUR 230 million, and earnings before interest and taxes (EBIT) that are still positive or at breakeven level.

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

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.