MANZ AG Three Month Report 2021
Growth Industries in Focus
2
Manz AG
at a glance
Overview of Consolidated Net Profits
January 1 to | January 1 to | |
(in EUR million) | March 31, 2021 | March 31, 2020 |
Revenues | 50.9 | 61.6 |
Total operating revenues | 53.8 | 63.3 |
EBITDA | 14.3 | 6.9 |
EBITDA margin (in %) | 26.5 | 10.9 |
EBIT | 11.5 | 3.5 |
EBIT margin (in %) | 21.3 | 5.6 |
EBT | 10.9 | 3.0 |
Consolidated net profit | 10.3 | 1.6 |
Earnings per share, | 1.33 | 0.22 |
undiluted (in EUR) | ||
Cash flow from operating activities | -14.2 | -20.2 |
Cash flow from investing activities | 40.6 | -2.5 |
Cash flow from financing activities | -15.9 | 12.7 |
2021 Financial Calendar
July 7, 2021 | Annual General Meeting 2021 |
August 5, 2021 | Publication of the 2021 semi-annual report |
November 9, 2021 | Publication of the 3rd quarter 2021 quarterly report |
Manz AG
Report for the first three months of 2021
3 | Manz |
Manz AG Stock |
Manz AG Stock
Key Share Figures January 1 to March 31, 2021
Ticker/ISIN | M5Z / DE000A0JQ5U3 |
Number of shares | 7,744,088 |
Closing price (March 31, 2021)* | EUR 53.00 |
High/Low* | EUR 56.00/EUR 34.90 |
Absolute stock price performance | 51.86 % |
Stock price performance TecDAX | 4.61 % |
Market capitalization (March 31, 2021) | EUR 410.44 Mio. |
* respective closing prices on the XETRA trading system of Deutsche Börse AG
Chart Manz AG Shares (XETRA, in EUR)
60.00 | 60.00 | |
55.00 | 55.00 | |
50.00 | 50.00 | |
45.00 | 45.00 | |
40.00 | 40.00 | |
35.00 | 35.00 | |
30.00 | 30.00 | |
01/21 | 02/21 | 03/21 |
Manz AG | SDAXI | TecDax |
Shareholder Structure | ||
Invesco Advisers, Inc. | 6.46 % | |
Shanghai Electric Germany | ||
Holding GmbH | 19.67 % | |
45.78 % | Free Float | |
Manz Family/Dieter Manz* | 28.09 % | |
* Dieter Manz 12.32 %, Ulrike Manz 5.44 %, Stephan Manz 5.16 %, Laura Manz 5.16 % |
Manz AG
Report for the first three months of 2021
4 | Group Interim Management Report |
Business Performance |
Business Performance
Despite continuing challenges over the course of the COVID-19 pandemic, further revenue shifts in the Solar segment and difficult conditions in the display production market, Manz AG was once again able to post positive net earnings in the first quarter of 2021 thanks to positive contributions from the Energy Storage and Contract Manufacturing segments. Total revenues were EUR 50.9 million in the first three months of 2021, down 17.4 % from the same period of last year, while earnings before interest and taxes (EBIT) improved sig- nificantly, climbing to EUR 11.5 million (previous year: EUR 3.5 million).
At the start of 2021, Mainz AG received an order from a US electric vehicle manufacturer for an assembly line for highly efficient battery modules. The order volume was in the low double-digitmillion-euro range, and will have an impact on revenues and earnings in 2021 and 2022. In addition, the business outlook for production solutions for lithium-ion battery cells and modules for electric vehicles further improved when the company entered into a strategic cooperation with GROB-WERKE GmbH & Co. KG at the beginning of April 2021. Both companies have the common goal of establishing themselves as the leading Europe- an supplier of complete production solutions for lithium-ion battery systems.
The significance of the consistent alignment of Manz AG was underscored when the company received confirmation of funding from the European Commission in the first quarter of 2021 for the further development of lithium-ion battery technology. Official notice of the funding for the Reutlingen site, amounting to around EUR 70 million, was issued to Manz AG on 27 April by Germany's Federal Ministry for Economic Affairs and Energy and the Ministry of Economics of the State of Baden-Wuerttemberg. The funding was awarded as part of the "Important Projects of Common European Interest" (IPCEI) program for the promotion of research and innovation in the battery value chain. Combined with the confirmation of funding for Manz AG's Italian site in the mid-double-digitmillion-euro range, the total volume of funding awarded to Manz Group is, therefore, in the three-digitmillion-euro range. Accordingly, Manz AG plays a key role in the further development of this key Euro- pean industry.
In the Electronics segment, the developments observed in 2020 carried over into the first quarter of 2021, whereby demand for machinery for electronic components was depressed, due in part to the COVID-19 pandemic. On the other hand, the Automated Assembly business performed well, particularly with regard to cell contacting systems. In the first quarter of 2021, Manz received a follow-up order from the automotive supplier TE Connectivity in which the latter ordered additional machinery for the automated assembly of cell contacting systems for electric vehicles. The volume of the order was in the low double-digitmillion-euro range. Manz AG also gained access to the promising functional printing market with the acquisition of a minority interest in CADIS Engineering GmbH, which specializes in industrial inkjet systems. Functional printing has the potential to integrate electrical functions or
Manz AG
Report for the first three months of 2021
5 | Group Interim Management Report |
Business Performance |
batteries into the surfaces of components. The total investment was in the low single- digit million-euro range.
Results in the Solar segment were shaped by continuing delays in the two major projects in China as a result of COVID-19, so that the completion of both CIGS projects will likely have to be pushed back until the end of 2021. While results in the Service segment were largely in line with expectations, the Contract Manufacturing segment contributed to the profitable result in the first quarter of 2021, due in part to the earnings effect arising from the sale of shares in the Talus Manufacturing Ltd. joint venture. The sale of the shares was completed in January 2021.
Revenues Distribution by Segment January 1 to March 31, 2021 | ||
Solar | 4.3 % | |
Service | 8.6 % | |
Contract Manufacturing | 11.1 % | |
38.9 % | Electronics | |
Energy Storage | 37.1 % |
Revenues Distribution by Region January 1 to March 31, 2021
Other Regions Taiwan
USA
Rest of Europe
China
4.7 % | |
5.9 % | |
7.1 % | |
48.1 % | Germany |
16.1 % | |
18.1 % |
The future outlook for Manz AG is bright thanks to strong orders on hand. Order intake amounted to EUR 42.2 million on March 31, 2021, compared to EUR 45.2 million in the previous year. On the same reporting date, orders on hand were EUR 170.1 million (March 30, 2020: EUR 152.8 million).
Manz AG
Report for the first three months of 2021
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Manz AG published this content on 04 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2021 09:10:10 UTC.
