Manz AG: Record revenue following successful turnaround in 2013

Reutlingen, (PresseBox) - .
- Preliminary revenue at EUR 266.2 million, around 45% above prior-year level
- Significantly improved profitability: 10% EBITDA margin and positive EBIT
- Display division more than compensates for absence of Solar revenue
- Further positive revenue and earnings development also anticipated in 2014

Manz AG, one of the world's leading high-tech engineering companies with an extensive technology portfolio covering the three strategic divisions of "Display", "Solar" and "Battery", reports on a successful performance in 2013 based on preliminary figures, with the early initiated diversification in technologies, industries and markets and the consequent pursuit of cross-industry technology transfer having a marked effect: Manz AG achieved the highest revenue level in its history, recording a significant 44.6% increase to EUR 266.2 million (previous year: EUR 184.1 million). This result is particularly impressive in the context of the marginal contribution of a mere 3.9% provided by Solar, formerly the division with the highest revenue. The company also succeeded in producing a significant improvement in profitability. Earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 27.2 million, which is around EUR 38 million above the prior-year level (EUR -10.8 million), impressively underlines the company's operating strength. Earnings before interest and taxes (EBIT) in the 2013 financial year amounted to EUR 3.1 million after the company had posted negative EBIT of EUR -30.7 million in 2012.

Dieter Manz, CEO and founder of Manz AG, is very satisfied with the company's performance: "We exploited our chances in the past year, benefiting to an above-average extent from the opportunities in the display industry. Our customers here now include many of the leading Asian suppliers of the electronics industry and the world's leading smartphone and tablet manufacturers. With the highest revenue in the company's history and a positive EBIT, we have clearly achieved our targets for 2013." Martin Hipp, CFO of Manz AG, adds: "We are pleased to have successfully managed the operating turnaround in 2013. While significantly expanding our business activities, we even succeeded in lowering expenditure. Manz AG's operating strength is reflected in the EBITDA margin of around 10%. Despite the absence of revenue from the solar industry, we have not neglected our development activities in this segment and thereby secured the opportunity to benefit from the next investment cycle, which is in the offing."

The Display division once again showed a convincing performance in the 2013 fiscal year. This division is shaped by the global boom in demand for tablet computers and smartphones. Revenue showed a year-over-year increase of 55.1%, rising from EUR 111.3 million to EUR 172.5 million and confirming Manz's excellent positioning in this segment. At the same time, the Solar division showed a low level of development, as expected, with revenue amounting to EUR 10.4 million after EUR 16.4 million in the previous year. Owing to the as yet insufficient growth dynamic in the market for e-mobility, the development of the Battery division is not yet meeting expectations. Revenue due to the sale of production machinery for lithium-ion batteries in the fields of e-mobility and stationary power storage amounted to EUR 9.1 million (previous year: EUR 14.5 million). Efficiently using capacities, business in the PCB/OEM reporting segment was further extended by expanding the OEM production of systems for manufacturing printed circuit boards. Revenue increased accordingly by 117.3% to EUR 56.4 million (previous year: EUR 25.9 million). The Others reporting segment generated revenue totaling EUR 17.8 million (previous year: EUR 16.0 million).

Dieter Manz is optimistic in respect of the current financial year and beyond: "In all three strategic divisions, we see very good conditions for being able to continue Manz AG's growth in revenue and earnings. According to the market experts the display industry will continue to grow in the next few years. We intend to consequently exploit the opportunities available to our company. In addition, we are expecting our Battery division to receive very positive impetus from orders from the premium consumer electronics sector and from the stimulation of market growth for e-mobility. We also see great upside potential in our Solar division in 2014. The rapidly growing retail market for solar cells and modules will ensure, over the course of this year, that the supply and demand curves intersect and overcapacities on the market disappear. The necessary investment in efficient and innovative production solutions will have a commensurately positive impact on our solar business. We have every reason to believe that sustainable, profitable company growth, with double-digit EBIT margins in the medium term, is possible.

Manz AG will publish its final figures for the 2013 reporting period, together with its complete 2013 annual report, on 28 March 2014.

Manz AG

Manz AG, headquartered in Reutlingen, Germany, 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. Manz has expertise in six fields of technology: automation, laser processes, vacuum coating, screen printing, metrology, and wet-chemical processes. These technologies are used and developed in three strategic business areas: Display, Solar, and Battery.

The company, led by founder Dieter Manz, has been listed on the stock exchange in Germany since 2006, and currently develops and manufactures in Germany, China, Taiwan, Slovakia, and Hungary. Manz also has sales and service offices in the United States, South Korea, and India. At the beginning of 2014, Manz AG had approximately 1,850 employees, half of them in Asia. With its slogan "Passion for Efficiency", Manz is making a promise to offer its customers - all companies active in important future markets - increasingly efficient production equipment. Like this, the company contributes significantly to reduce the production costs of end products and thereby making them available for a broad range of buyers worldwide.

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