PRESS RELEASE : Manz AG achieves clearly positive result in 2020 in difficult market environment

DGAP-News: Manz AG / Key word(s): Preliminary Results 
Manz AG achieves clearly positive result in 2020 in difficult market environment 
2021-03-09 / 07:30 
The issuer is solely responsible for the content of this announcement. 
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Manz AG achieves clearly positive result in 2020 in difficult market environment 
  . Sales of 237 million euros below previous year in the course of the global COVID-19 pandemic, as expected 
  . EBITDA increased by 10 million euros year-on-year to 19.4 million euros; EBITDA margin at 8.0 % 
  . EBIT growth of around 15 million euros results in clearly positive EBIT of 7.2 million euros 
  . Exceptional momentum in Energy Storage in 2020 with order intake of almost 130 million euros 
  . Positive outlook for 2021 thanks to continued momentum in the e-mobility market and an order backlog of over 200 
    million euros 
Reutlingen, March 09, 2021 - Manz AG, a global high-tech engineering company with a comprehensive technology portfolio, 
published its preliminary key financial figures today for the fiscal year 2020. Also due to the global lockdown 
provisions in the course of the COVID-19 pandemic, Manz AG's 2020 revenues decreased by 10.5 % to 236.8 million euros 
(previous year: 264.4 million euros), as expected. Earnings before interest, taxes, depreciation and amortization 
(EBITDA) increased significantly to 19.4 million euros (previous year: 9.2 million euros). This resulted in a greatly 
improved EBITDA margin of 8.0% (previous year: 3.5%). Earnings before interest and taxes (EBIT) also showed a 
significant increase of 14.8 million euros to 7.2 million euros (previous year: -7.6 million euros). This corresponds 
to an EBIT margin of 3.0 %. 
Martin Drasch, CEO of Manz AG, comments: "Particularly in view of the major economic challenges posed by the COVID-19 
pandemic, we are very satisfied with our business performance in 2020, although there were revenue losses in the Solar 
and Electronics segments due to the travel restrictions, among other things. In the Energy Storage growth segment, 
however, we took advantage of the market momentum despite isolated postponements of orders and won new major orders 
from partners such as AKASOL AG, a German manufacturer of battery systems for hybrid and fully electric commercial 
vehicles, and a leading international battery manufacturer from the consumer electronics sector. In this segment alone, 
our order intake in 2020 is around 130 million euros. We will also benefit from this positive development in 2021, not 
only with our production facilities for battery manufacturing, but also with our assembly solutions around other 
components of the electric powertrain." 
After a strong business performance in the previous year, characterized by a major order in the display sector, 
business in the Electronics segment declined in 2020, also as a result of the COVID-19 pandemic. Sales in the fiscal 
year 2020 amounted to 90.7 million euros (previous year: 115.7 million euros). Although the segment EBIT of -5.3 
million euros improved compared to the previous year (-7.6 million euros), it fell short of expectations due to the 
charges for LCD displays in Asia. In the field of assembly automation, particularly for the production of cell 
contacting systems, the company recorded a positive development with customers in the automotive industry. 
The Energy Storage segment developed very positively in the fiscal year 2020. Manz AG reported numerous orders from 
customers in the fields of e-mobility, consumer electronics and stationary energy storage. The positive development of 
orders led to an increase in revenues of 59 % to 64.7 million euros (previous year: 40.7 million euros). At 6.9 million 
euros, segment EBIT also increased significantly compared to the previous year (2019: -11.3 million euros). 
In 2020, the Solar segment was characterized by the delay of the two major projects CIGSfab and CIGSlab, caused by 
pandemic-related work stoppages in China. As a result, the full completion of the projects was further postponed. 
Accordingly, 2020 segment sales of 23.2 million euros were below the previous year (47.5 million euros). As a result of 
the postponement of revenue recognition, segment EBIT also fell to -7.8 million euros, compared to -2.0 million euros 
in the previous year. 
Sales in the Contract Manufacturing segment amounted to 37.0 million euros in 2020 (previous year: 41.5 million euros). 
The segment EBIT reached a clearly positive value of 12.3 million euros (previous year: 11.5 million euros), including 
the result of Talus Manufacturing Ltd. of 9.4 million euros (previous year: 8.8 million euros), which is included as an 
associated company in the scope of consolidation of the Manz Group until the beginning of November 2020. At this time, 
Manz AG was informed by its American business partner that it would take over the share in Talus Manufacturing Ltd. 
held by Manz Taiwan Ltd. Thanks to the excellent development at the other locations, Manz AG achieved a positive 
segment EBIT in the fourth quarter of 2020 even without the earnings contribution from Talus Manufacturing Ltd. 
With the service business, Manz generated 21.2 million euros in 2020 (previous year: 19.1 million euros). The segment 
EBIT was 1.3 million euros and thus slightly below the previous year's level of 1.6 million euros. 
With an order backlog of over 200 million euros, CEO Drasch is optimistic for 2021: "We believe that the very positive 
development in the field of electromobility in 2020 is only just the beginning. With our decades of experience in 
assembly automation and battery production, we are very well positioned for further growth in the wake of the global 
mobility revolution." Not only due to the announcement of the European Commission's funding for the further development 
of Li-ion battery technology as part of the Important Projects of Common European Interest (IPCEI), Drasch believes 
that Manz AG's focus on this growth market has been strengthened. Manz plans to use the European funding pledged at the 
beginning of 2021 to implement the "Lithium-Ion Battery Factory of the Future" project. And the sale of shares in Talus 
Manufacturing Ltd, which was completed at the beginning of 2021, also fits into this focus strategy. The profit 
generated in the mid-double-digit million-euro range is available for investments by Manz AG in the growth areas of 
batteries and e-mobility. 
"Thanks to our competencies and excellent access to leading automotive manufacturers, automotive suppliers, and battery 
producers for electromobility, consumer electronics, and wearables, we see ourselves on the right track," Drasch is 
convinced. "No matter what battery design, Manz is the right partner for innovation, quality, and efficiency in this 
field. Our strategic goal is to develop Manz AG into Europe's largest integrator of machinery and equipment for battery 
production." 
Manz AG will publish the final figures for the 2020 fiscal year as well as a detailed forecast for the current fiscal 
year with the complete 2020 Annual Report on March 30, 2021. 
 
Preliminary year-on-year figures for 2020 
 
in EUR million           2020  2019 
Group sales revenue     236.8 264.4 
Solar                    23.2  47.5 
Electronics              90.7 115.7 
Energy Storage           64.7  40.7 
Contract Manufacturing   37.0  41.5 
Service                  21.2  19.1 
 
EBIT Group                7.2  -7.6 
Solar                    -7.8  -2.0 
Electronics              -5.3  -7.6 
Energy Storage            6.9 -11.3 
Contract Manufacturing   12.3  11.5 
Service                   1.3   1.6 
 
EBITDA Group             19.4   9.2 
Solar                    -5.1   1.4 
Electronics              -1.0   0.4 
Energy Storage           10.3  -7.3 
Contract Manufacturing   13.1  12.3 
Service                   2.1   2.2 Company Profile: 

Manz AG - passion for efficiency Founded in 1987, Manz AG is a global high-tech equipment manufacturing company. Its business activities comprise the areas of Solar, Electronics, Energy Storage, Contract Manufacturing and Service.

With many years of expertise in automation, laser processing, vision and metrology, wet chemistry and roll-to-roll processes, the company offers manufacturers and their suppliers innovative production solutions in the areas of photovoltaics, electronics, and lithium-ion battery technology. The company's product portfolio includes both customer-specific developments and standardized single machines and modules, which can be linked to create complete custom systems. Manz AG offers high-quality, needs-based solutions that can be integrated early into customer projects to contribute significantly to customer success.

The company, listed on the stock exchange in Germany since 2006, develops and produces in Germany, Slovakia, Hungary, Italy, China and Taiwan. It also has sales and service branches in the USA and India. Manz AG currently employs roughly 1,400 workers worldwide, around half of whom work in the Asia region, which is key to the company's target industries. Manz Group revenue in the 2020 financial year totaled around 237 million euros. Contact Manz AG Axel Bartmann Tel.: [phone] Fax: [phone] - 9000-99 E-mail: [e-mail]

cometis AG Claudius Krause Tel.: +49 (0)611 - 205855-28 Fax: +49 (0)611 - 205855-66 E-mail: [e-mail] -----------------------------------------------------------------------------------------------------------------------

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March 09, 2021 01:31 ET (06:31 GMT)