Manz Automation doubles revenue: backlog at €100 million

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Citing a turnaround in the number of orders, especially for its back-end line technology for manufacturing crystalline solar cells, Manz Automation has posted revenue of €67.5 million in the first-half of 2010. The solar and FPD equipment supplier saw revenue double compared to the same period a year ago when revenue was reported at €28.28 million, a 139% increase. Order backlog as improved to above €100 million, the company said. Revenue guidance for the year was put at €140 million with the potential for upside.

Revenue for the second quarter was €46.2 million, compared to €11.8 million in the same period a year ago. A profit of €1.77 million was reported for the second quarter EBIT for the first six months of 2010 remains in negative territory; however the company noted that the current trend should see a positive EBIT for the entire fiscal year.

“Depending on further market developments, in particular for thin-film technology, there is also potential to even surpass our targets,” noted Dieter Manz, CEO of Manz Automation.

The company also noted that the majority of its current backlog came from Asian growth markets such as China, Taiwan, South Korea, and India, although new technology offerings were also proving popular in Germany.

Manz was also upbeat about the impact its recently announced deal with Würth Solar concerning CIGS technology will have on its business starting in 2011.

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