Strong revenue growth from its Display segment helped major manufacturing equipment firm, Manz report record revenue for the first nine-months of 2013.
The company reported record revenue of €213.0 million (US$285 million), an increase of 44%, compared with the prior year period. Sales in its Solar segment were only €7.5 million (US$10.05 million), compared to €14.9 million (US$20.0 million) in the previous year period.
Manz said that it expected record revenue for the full-year of between €260 million (US$348 million) and €270 million (US$362 million) and EBIT positive, despite continued investments in its Solar segment's R&D activities.
Dieter Manz, CEO and founder of Manz AG said: “The positive revenue and earnings trend for the third quarter reflects the sustainability of our business success. Especially given the high level of our investments in the future technology of photovoltaics, the EBIT of €5.2 million (US$7.0 million) reflects the strength of our business model. Our EBIT margin even is above 10% when adjusted for this figure. We identify excellent opportunities for continued profitable corporate growth over the coming years with our strong market positioning as one of the world's leading high-tech engineering companies in the display sector, and the marked upside potential in promising future growth markets for photovoltaics and lithium-ion batteries.”