Manz Automation doubles revenue in first nine months of 2010

Manz Automation has reported strong revenue growth in the first nine months of 2010. Sales reached €121.3 million, compared to €46.7 million in the same period a year ago. Revenues in the third quarter of 2010 reached €53.8 million, driven by new product sales for the production of crystalline solar cells. Revenue was €18.5 million in the same quarter of the previous year. Due to continued demand, Manz has raised its revenue guidance for 2010 to between €170- €175 million, up from at least, €140 million.

“We already have a broad range of new products, which set standards for key parameters such as throughput rates, efficiency and costs, in particular in the PV industry,” noted Dieter Manz, CEO of Manz Automation. “This was confirmed again by the orders we have recently received from our customers. We are sticking to our target of recording a balanced result in 2010 as a whole. The recent new orders mean that we have solid foundations to link in to our positive growth in the coming fiscal year. In addition, we are currently in negotiations with many existing and potential customers, and the new orders are thus a welcome partial success. Our customers are increasingly prepared to make investments, which puts more wind in our sails for fiscal year 2011.”