09.11.2015
Manz AG DE000A0JQ5U3
DGAP-News: Manz AG Publishes Report on the First Nine Months of 2015
DGAP-News: Manz AG / Key word(s): 9-month figures
Manz AG Publishes Report on the First Nine Months of 2015
09.11.2015 / 07:36
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Manz AG Publishes Report on the First Nine Months of 2015
- Revenue trend in 2015 substantially affected by order cancellation and
order delays
- Significant negative operating result due to high cost basis and low
revenue level
- Restructuring program for adjustment of the Group-wide cost structure
initiated
Reutlingen, November 9, 2015 - Manz AG is publishing its financial report
for the first nine months of 2015 today. The first six months were mainly
characterized by delays in incoming orders as well as the cancellation of a
bulk order and its associated effects. Contrary to original expectations,
the economic slowdown in China, in particular, as well as developments on
Chinese capital markets in the third quarter again led to significant order
delays in the Energy Storage and Electronics segments. Consequently,
revenues and earnings for the first nine months are under strain.
Overall, in this fiscal year, Manz AG is confronted with cancellations and
order delays with a total volume of around 140 million euros. Revenue
totaling 169.0 million euros for the 2015 reporting period was
significantly below the prior-year level of 250.9 million euros. Dieter
Manz, CEO and founder of Manz AG, comments: "Our original planning
envisaged a rise in revenues to around 320 million to 340 million euros. We
therefore focused our Group structures on growth with corresponding
ramifications on our cost structure. Using this constellation -
significantly lower revenues than planned and a simultaneous increased cost
basis - our operating result was also heavily impacted." Earnings before
interest, taxes, depreciation and amortization (EBITDA) in the reporting
period amounted to -20.6 million euros (previous year: 19.6 million euros);
earnings before interest and taxes (EBIT) totaled -30.1 million euros
(previous year 1.5 million euros).
Broken down by business segment, the picture after the first nine months of
2015 is as follows: the Electronics segment accounted for a 38.7% share of
revenues in the reporting period with 65.3 million euros (previous year:
189.4 million euros or 75.5%). The Solar segment generated around 17.2
million euros or 10.2% of Manz AG's total revenues in the first nine months
of 2015 (previous year: 9.3 million euros or 3.7%). At 55.6 million euros,
the Energy Storage segment accounted for a 32.9% share of the revenues
(previous year 12.2 million euros or 4.9%). The Contract Manufacturing
reporting segment was responsible for revenue contributions of 22.8 million
euros or 13.4% (previous year: 29.3 million euros or 11.7%). Revenues in
the reporting segment Others came to 8.1 million euros in the 2015
reporting period, which corresponds to a 4.8% share of revenue (previous
year: 10.6 million euros or 4.2%).
As a direct consequence of the 2015 business performance to this point,
Manz AG has initiated a restructuring program with external support. The
company will present the key measures and associated expenses on December
10, 2015. The clear target of the program is the adaptation of the global
cost structure in order to achieve at minimum the break-even level based
on conservative planning for the year 2016. Manz AG will use this as a
basis to continue on the growth path. In this context, Manz will focus in
the future on the growth markets Electronics and Energy Storage. On the
other hand the Managing Board is examining options for the Solar segment
since negotiations concerning the sale of a CIGSfab are drawing out longer
than expected. The goal is that beginning with the fiscal year 2016, no
further cost burden will arise from this segment.
Although the restructuring will make high demands on all involved parties
in the company, Dieter Manz is undaunted: "We intend to turn a profit from
the potentials of Manz AG and our markets. I continue to assess our
prospects in our strategic target industries as positive and see definite
opportunities for our company to be able to grow again in this environment.
In the course of the restructuring program, it will be essential to the
success of our company that we significantly increase planning reliability,
transparency and flexibility within the Group so that we can better manage
the risks associated with cancellations of large-scale orders. I firmly
believe that together we will overcome these challenges."
The complete report for the first nine months of 2015 is available for
download on the company website www.manz.com in the "Investor Relations"
section. Company profile:
Manz AG - passion for efficiency
As one of the world's leading high-tech equipment manufacturers, Manz AG,
based in Reutlingen, Germany, is a pioneer in innovative products for
fast-growing markets. Founded in 1987, the company has expertise in seven
technology sectors: automation, laser processing, vacuum coating, screen
printing, metrology, wet chemical and roll-to-roll processing. Manz deploys
and continuously develops these technologies in three strategic business
segments: Display, Solar and Battery.
The company, led by founder Dieter Manz and listed on the stock exchange in
Germany since 2006, currently develops and produces in Germany, China,
Taiwan, Slovakia, Hungary and Italy. It also has sales and service branches
in the USA and India. At the beginning of 2015, Manz AG had approximately
2,000 employees, around half of whom were employed in Asia. Manz's claim
"passion for efficiency" offers the promise of production systems of the
highest efficiency and innovation to its customers in dynamic,
future-oriented industries. With its extensive expertise in the development
of new production technologies and the related machines, the company
substantially contributes to reducing the production costs of final
products and making them accessible to large groups of buyers around the
world.
Investor relations contact
cometis AG
Ulrich Wiehle / Claudius Krause
Tel.: +49 (0)611 - 205855-28
Fax: +49 (0)611 - 205855-66
E-mail: [email protected]
Manz AG
Axel Bartmann
Tel.: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
Email: [email protected]
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service of EQS Group AG.
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Language: English
Company: Manz AG
Steigäckerstr. 5
72768 Reutlingen
Germany
Phone: +49 (0) 7121 9000-0
Fax: +49 (0) 7121 9000-99
E-mail: [email protected]
Internet: http://www.manz.com
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Indices: TECDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
End of News DGAP News Service
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