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Manz AG publishes 2015 Q1 Report

DGAP-News: Manz AG / Key word(s): Quarter Results
Manz AG publishes 2015 Q1 Report

12.05.2015 / 07:38

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Manz AG publishes 2015 Q1 Report

- Revenues after the first three months of EUR 54.0 million at previous
year's level

- Positive prospects for following quarters with dynamic growth in orders
and order backlog of EUR 92 million

- Guidance for the full 2015 year affirmed

Reutlingen, May 12, 2015 - Manz AG, one of the world's leading high-tech
equipment manufacturers with an extensive technology portfolio covering the
three strategic business segments of "Electronics", "Solar" and "Energy
Storage", is publishing its financial report for the first quarter of 2015
today. In the financial statements for the first quarter of 2015, there is
a partial reclassification and redesignation of the strategic business
segments. The biggest change is that "Electronics" and "Energy Storage" are
replacing the segments "Display" and "Battery".

As expected, the start of the year 2015 was primarily characterized by the
volatility and the cyclical character of the growth markets in which Manz
AG is active. The usual low order intake of the final quarter of 2014 had a
corresponding effect on the current revenues and earnings: While revenues
in the first quarter of 2015 at EUR 54.0 million were at about the level of
the previous year (EUR 54.2 million), the expectations of the Managing
Board were not fully met. Intensified sales activities and the successful
integration of Manz Italy last year led to increased expenses compared with
the previous year. This development was in part amplified by unfavorable
currency translation effects in connection with the Asian subsidiaries. As
a result, earnings before interest, taxes, depreciation and amortization
(EBITDA) was EUR -6.4 million in the first quarter of 2015 (previous year:
EUR 0.2 million); earnings before interest and taxes (EBIT) amounted to
-9.4 million EUR following EUR -5.7 million in the previous year.

Dieter Manz, CEO and founder of Manz AG, stated: "As expected, our first
quarter is primarily characterized by the low order intake in the last
quarter of 2014. In addition there was a postponement of several major
orders that thus could not contribute to the revenues of the first three
months - but these projects will have a positive effect in the following
quarters. In view of an order backlog of currently EUR 92 million, we