German Solar Machinery Manufacturer Manz Automation Looks to be Worth a Closer Look
Submitted by EnergyTechStocks.com
Like so many companies, Germany’s Manz Automation AG, a solar-cell machinery and robotic manufacturer, has seen its stock price tumble during the credit crisis. But the company says it recently booked (Euros) 20 million in new solar photovoltaic equipment orders. And, as Bloomberg News recently reported, Manz’s CEO expects his firm’s profit margins to improve in 2009, to 15% of sales from under 12% currently.
Thus does Frankfurt-traded Manz appear to be worth a closer look, although investors should understand that the company has predicted that profits will decline in 2008 as it integrates a recent acquisition. Investors should also understand that all German stocks currently are under pressure due to recession fears.
Having said that, Manz also expects its 2008 sales to triple compared with 2007’s (Euros) 71.3 million, and for EBIT to nearly triple, to about (Euros) 28.6 million from 10.1. Over the last three years, annual revenue has surged from just (Euros) 29 million in 2005 to 2008’s estimated 240 million.
Thus has Manz CEO Dieter Manz earned some credibility. Although he’s been silent since the credit crunch really took hold, in late September Manz reportedly said, “We are not worried at all” by the credit crisis, according to Bloomberg. He reportedly cited rising orders from deep-pocketed partners, among them Masdar PV, the Abu Dhabi-based thin-film module maker.
