New orders help to boost Manz Automation as it announces record revenues for the first half of the year

Of this total, it says €46.2 million was recorded in the second quarter of the year alone. These figures have risen dramatically in comparison to last year, when the company recorded revenues of €28.3 million in the same period. Additionally, in the first six months of the year, operating revenues also increased to €77.6 million, which has doubled compared to the same period of the previous year, states the company.

Manz recorded earnings before interest and tax (EBIT) for the second quarter of €1.8 million after losses of €7.6 million in the previous year. This means, says the Reutlingen-based company, that it has returned to positive operations, even though the accumulated figure for the first half of the year is still negative at €-1.5 million. Pre-tax earnings (EBT) increased to €-1.1 million in the first six months of the year after €-12.1 million in the same period of the previous year. This resulted in consolidated earnings after taxes and minority shares of €-0.7 million compared to €-9.3 million last year, which says the company, corresponds to earnings per share of €-0.16 (previous year: €-2.08). As a result of the significant improvement in operating business and the associated increase in requirements for working capital, the cash flow from operating activities in the period under review fell to €-5.3 million (previous year: €-2.9 million).

“We are expecting a new record figure in the FPD sector, which will even surpass our previous record-breaking figure in 2008. In particular our production capacity in Asia is more than filled thanks to many orders stemming from the boom in touch-panel displays,” explained CEO Dieter Manz. He added: “Due to the improved operating business and an order backlog which currently totals around €100 million, we are forecasting total revenues in fiscal year 2010 of at least €140 million. Depending on further market developments, in particular for thin-film technology, there is also potential to even surpass our targets.”

The company is also forecasting significant increases in revenues and earnings from next year, especially due to the strategic alliance established with Würth to produce CIGS production lines.