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Manz Automation took a heavy hit from the fall in equipment sales in the solar and LCD industries in 2009. Revenue for 2009 was €85.9 million, down sharply from €236.5 million in 2008. Cost cutting measures limited losses to €15.9 million. Manz Automation saw fourth quarter sales jump sharply as a recovery in the PV industry netted sales of €39.2 million (previous year: €77.4 million), accounting for 45.6% of the total annual revenues. Order book stood at €40 million in mid-December 2009, but has increased to €70 million as of February 28, 2010, according to the company. Manz said that it expects a return to double digit growth in 2010.
“Manz Automation is excellently positioned - we did our homework last year,” noted Dieter Manz, CEO of Manz Automation. “Our further-developed product range means that we lead the market for technology. The use of state-of-the-art equipment is particularly important for our customers - especially during the current phase - in order to effectively combat the increasing cost pressure. That is why we are forecasting high double-digit percentage revenue growth and positive EBIT for the current fiscal year.”
Manz recorded operating profit of €0.2 million in the fourth quarter.
