Manz Automation posts preliminary quarterly results

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Manz Automation has released their preliminary quarterly financial results. The company totalled €21.3 million in the first quarter of 2010, a jump from 2009’s €16.5 million. Total operating revenue came to €34.3 million, another improvement from last year’s €21.3 million, showing a 61% year-on-year increase.

EBIT totaled -€3.3 million, from last year’s -€5.0 million. Consolidated net income came to -€2.7 million from 2009’s -€4.7 million while cash flow from operating activities equaled -€8.0 million, compared to last year’s €5.25 million.

The current order book, from the start of the fiscal year, is €87.3 million, but the new orders are not reflected in the first quarter results. The equity ratio on the balance sheet was 79.9%, with cash and cash equivalents around €73.3 million.

Taking into account this year’s first quarter results, the managing board is expecting revenues to rise by at least 50% year-on-year for the whole of 2010.

Dieter Manz, Manz Automation’s CEO, stated, “We are confident about fiscal year 2010. In particular the up-and-coming FPD market in Asia is highly promising. Our new products for the solar industry are also meeting with excellent feedback from our customers, as they offer manufacturers highly effective solutions to deal with increasing cost pressure.”

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