Corporate | 11 November 2008 11:08
Roth & Rau AG / Quarter Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
----------------------------------------------------------------------
- Acquisitions intended to reinforce market position
- Bulk order for new MAiA deposition equipment underlines technological
competence
Hohenstein-Ernstthal, 11 November 2008 – The Management Board of Roth & Rau
AG underlined the company’s strategic objectives in numerous individual
meetings at the German Equity Forum (Deutsches Eigenkapitalforum) in
Frankfurt am Main. 'We are superbly positioned and have sufficient
financial scope to finance both our operating business and the strategic
investments we have planned', commented Dr. Dietmar Roth, Chairman of the
Management Board of Roth & Rau AG. As a result of the capital increase
executed in April 2008 and the syndicate loan agreement also concluded in
April, the company had liquid funds of EUR 125,612k as of 30 September 2008
and has secured its financing terms for the next five years. 'Our prime
objective is to significantly increase the share of our products in the
value chain for crystalline silicon solar cell production. This will enable
us to further enhance the technological parameters of our turnkey
production lines and to expand our market position in the longer term',
added Dr. Roth.
The company took a major step in this direction at the end of last week.
Roth & Rau AG will take over Tecnofimes S.r.l., based in Monza, Italy, as
of 1 January 2009. Tecnofimes is a provider of production equipment for
thermal processes, such as diffusion and firing, used in the production of
crystalline silicon solar cells. In future, the companies will jointly
develop novel in-line diffusion ovens for production at Roth & Rau.
Alongside antireflective coating, with diffusion and firing the company
will thus be integrating two further process stages impacting significantly
on the degree of efficiency of crystalline silicon solar cells. 'By taking
over Tecnofimes, we will acquire decisive expertise in a further key
technology segment. This will enable us to offer 65 % of all products and
services in the crystalline silicon solar cell production process in
future, rather than 45 % as at present', remarked company CFO Carsten
Bovenschen.
Furthermore, Roth & Rau AG will be taking over Ion-Tech GmbH, based in
Hohenstein-Ernstthal, as of 1 January 2009. The takeover of this closely
related company is intended to create a clearer group structure and
contribute to restructuring the plasma and ion beam technology (PIB)
business division. Ion-Tech’s operations involve the production of
components for the PIB business division. Its sales amounted to less than
one million euros in the 2007 financial year. A purchase price of EUR 700k
has been agreed. The shareholders of Ion-Tech to date are the company
founders of Roth & Rau AG, Dr. Dietmar Roth, Dr. Bernd Rau and Dr. Silvia
Roth, as well as the Director of the PIB business division, Dr. Michael
Zeuner. 'By incorporating Ion-Tech GmbH, we will secure our access to key
technologies, thus also protecting us against potential supply
bottlenecks,' commented Dr. Roth with regard to this step.
'As well as acquiring key technologies, we are also working continuously on
expanding our own technological competence. We have stepped up our research
and development activities in recent months. This has involved initiating
promising new projects, while also considerably increasing our expenditure
on research and development. The development of seminal products and
facilities represents a major component in our long-term growth strategy',
commented Bovenschen. One of the key product developments launched onto the
market in recent months is the MAiA product line. This represents a new
generation of facilities introducing new solar cell technologies. The
modified facility series is characterised above all by the flexibility of
its structure and fields of application. A building block system enables
new plasma technologies, such as the two-sided coating of solar cells or
the use of new film materials, to be implemented either separately or in
combination. The first major order has been received for eight MAiA
facilities worth EUR 29.0 million in total. 'We are pleased to have
successfully launched a further technologically leading product onto the
market with our new MAiA product line, thus underscoring our technological
competence. We already received very positive feedback at the trade fair in
Valencia, and this order now underlines the high demand for this product',
added Dr. Roth. The installation of the facilities is scheduled to take
place in the second quarter of 2009.
The Management Board also confirmed the quarterly results already published
in preliminary form. Accordingly, consolidated sales grew by 83.7 % from
EUR 107,528k to EUR 197,479k in the first nine months of 2008. Earnings
before interest and taxes (EBIT) surged by 97.3 % from EUR 10,577k to EUR
20,869k. This positive performance was chiefly attributable to the rapidly
growing photovoltaics business division, which accounted for a total of
95.3 % of consolidated sales. This division generated sales of EUR
188,148k, equivalent to growth of 86.2 % on the previous year’s figure of
EUR 101,039k. Its EBIT contribution amounted to EUR 20,475k (2007: EUR
10,066k). Personnel totals also showed strong growth. At 30 September 2008,
the Group had 553 employees, and thus 359 more than at the reporting date
one year earlier. This figure included 127 employees added due to the
initial consolidation of AIS Automation Dresden GmbH. Personnel capacities
are scheduled to expand to up to 570 employees by the end of the year. In
view of the successful third quarter and very pleasing order situation, the
Management Board has confirmed its forecast for the overall 2008 financial
year and thus expects to generate sales of at least EUR 250 million and an
EBIT margin of at least 10.0 %.
The complete report for the first 9 months of 2008 is available on the
company’s website at www.roth-rau.de.
About Roth & Rau AG:
Roth & Rau AG based in Hohenstein-Ernstthal (ISIN DE000A0JCZ51) is by
market share one of the world’s leading suppliers of plasma process systems
for the photovoltaics industry. Furthermore Roth & Rau supplies components
and process systems based on plasma and ion beam technology for other
sectors. Developed by Roth & Rau, these products are manufactured and
distributed worldwide through the company’s photovoltaic and plasma and ion
beam technology divisions. Roth & Rau’s photovoltaic division focuses on
providing antireflective coating facilities as well as fully automated
manufacturing lines (turnkey production lines) for the production of
crystalline silicon solar cells. Another focus is on the production of
equipment for the coating of thin film solar modules. The plasma and ion
beam technology division, which accounted for 6 percent of total sales in
the 2007 financial year, produces plasma sources and ion beam sources as
well as process systems for plasma and ion beam enhanced thin film and
surface processing methods. Customers served by this division include, in
particular, companies in the semiconductor and automotive industries, R&D
departments in various industries including photovoltaics as well as
research institutes and universities. Roth & Rau AG posted sales of EUR 146
million and EBIT of EUR 14 million pursuant to IFRS for the 2007 financial
year and had an average of 190 employees. Sales in the first nine months of
the year amounted to EUR 197 million, with EBIT coming in at EUR 21
million.
Contact:
Haubrok Investor Relations GmbH
Simone Gorny
Kaistraße 16
40221 Düsseldorf
Tel.: +49 (0) 211/30126-130
Fax: +49 (0)211/30126-5130
E-Mail: s.gorny@haubrok.de
11.11.2008 Financial News transmitted by DGAP
----------------------------------------------------------------------
Language: English
Issuer: Roth & Rau AG
An der Baumschule 6-8
09337 Hohenstein-Ernstthal
Deutschland
Phone: 03723 6685-0
Fax: 03723 6685-100
E-mail: info@roth-rau.de
Internet: www.roth-rau.de
ISIN: DE000A0JCZ51
WKN: A0JCZ5
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Düsseldorf
End of News DGAP News-Service
---------------------------------------------------------------------------