Preliminary financial results from Manz Automation show that revenue more than doubled in 2010, compared to the previous year. Total operating revenue reached €205 million, up from €101 million in 2009. The increased revenue resulted in Manz returning to a small gross profit of €0.6 million but expects double-digit growth in 2011.
Manz Automation generated positive operating cash flow of €2.0 million, down significantly from €39.7 million in the previous year, due to the IP licensing costs associated with CIGS thin-film technology from Würth Solar.
“We expect significant double-digit sales growth in 2011,” noted Dieter Manz, CEO of Manz Automation AG. “In view of the current order book position of around €140.7 million we anticipate sales of €240 million to €250 million.”
The company noted that growth in revenue would come from Asian markets such as China and India.