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Manz Automation AG publishes preliminary 3-month figures for 2010
- Revenues of € 21.3 million in Q1 2010 (previous year: € 16.5 million)
- EBIT of € -3.3 million recorded after € -5.0 million last year
- Order book soars to € 87.3 million
- Revenues forecast to increase by at least 50% for 2010 as a whole
Manz Automation AG, one of the world's leading technology providers for the photovoltaic and flat panel display (FPD) industries, recorded revenues of € 21.3 million in the first quarter of 2010 according to preliminary figures (previous year: € 16.5 million). At the same time, the Manz Group recorded total operating revenue of € 34.3 million, compared to € 21.3 million in the same period of the previous year. This figure is thus up by around 61% yearonyear.
In the first three months EBIT totaled € -3.3 million (previous year: € -5.0 million). The loss was lower in earnings before taxes (EBT) at € -3.2 million due to the positive financial result, compared to € -4.9 million in the same period of the previous year. This results in consolidated net income for the period of € -2.7 million (previous year: € -4.7 million). The cash flow from operating activities totaled € -8.0 million in the period under review (previous year: € 5.25 million).
Since the start of the fiscal year, Manz Automation has been able to acquire orders with a volume of more than € 59.6 million, taking the current order book to € 87.3 million. The new orders are not yet reflected in the figures for the first quarter, however they will lead to significant improvements in revenues and earnings during the course of the year. Irrespective of this, the company continues to have a very solid balance sheet structure to finance its future growth. The equity ratio on the balance sheet date totaled 79.9%, and the company had cash and cash equivalents of around € 73.3 million on the reporting date.
As a result of the improved operating business, the Managing Board is forecasting revenues to lift by at least 50% yearonyear for 2010 as a whole (total revenues in 2009: € 85.9 million). Depending on the further developments on the market, in particular for thinfilm technology, the Managing Board believes that there is potential to even exceed these targets.
Dieter Manz, Manz Automation AG's CEO, describes the positive outlook on the market for Manz: "We are confident about fiscal year 2010. In particular the upandcoming FPD market in Asia is highly promising. Our new products for the solar industry are also meeting with excellent feedback from our customers, as they offer manufacturers highly effective solutions to deal with increasing cost pressure."
The full report for the first three months of 2010 will be published on May 11, 2010 and can be downloaded from www.manz-automation.com in the Investor Relations section.
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