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SMT & Inspection |

Mania Group increase turnover

The Mania Group's turnover for the first six months of 2006 amounted to € 39.3 million. The Production System Division accounted for € 28.1 million and the Outsourcing Division for € 11.2 million.

In the first six months of the prior year turnover amounted to € 38.1 million. Turnover is thus € 1.2 million higher than during the same period in the prior year. However it is not possible to make a direct comparison between the two periods due to the disinvestment of Outsourcing Europe at the end of the business year 2005. This measure resulted in a loss of € 2.0 million in turnover in the first half of 2006. Taking these circumstances into consideration the comparable increase in turnover in the first six months of 2006 amounted to € 3.2 million or 8.9%. Thus Management expectations were met. In the first half year of 2006 the Group achieved an EBITDA of € 2.6 million. This is double that of the first half year of 2005. EBIT rose by € 1.6 million to € 0.6 million. The improvement in profitability is the result of higher turnover, an improved product mix and the successful cost reduction measures in the areas of personnel and other material costs. The restructuring measures determined and initiated in Q4 2005 were concluded in the first half year of 2006. The production location in Spain was closed in April 2006 according to plan. All Outsourcing Centers in Europe were either sold (Netherlands, Italy) or closed (Germany, Great Britain, France). The measures to reduce production capacities in Germany have been fully implemented. All restructuring measures have been fully considered in the financial statements for 2005. No further restructuring costs are expected for the business year 2006. Due to the restructuring measures the number of employees in Europe has decreased significantly. On June 30, 2006 there were still 200 employees in Europe, as opposed to 326 employees on June 30, 2005. The increase in staff in North America (+23) is mainly due to the transfer of a Level 3 customer's employees. In Asia there has been a significant increase in the number of employees in Customer Care and Sales and a decrease in the Outsourcing Division. For the future they expect a further shift of their work force to Asia. In the first six months of 2006 Mania has concluded an important step of the product offensive initiated in 2005. The first deliveries of their new Flying Probe Testers and the maniaacceler8 took place in Q2 2006. The market introduction of new products and variations of existing models with significantly improved performance is planned for 2006 and 2007. The focus of their developments will be on the high-end growth areas HDI and Flip Chip. In April 2006 Mania Technologie AG increased its share in the former Mania Barco Group from 47% to 80%. This part of the Group operates the product lines Optical Inspection (AOI), Laser Photoplotter, Customer Care North America und Customer Care Europe. In return for these shares Barco N.V. received 759,000 new Mania shares. According to Mania's information Barco N.V. have sold these new shares to Mania's investor consortium. The first half year of 2006 was marked by the implementation of the restructuring measures, the strengthening of sales and customer care in the Far East, the increase of our production capacities and the introduction to the market of the new Flying Probe products. Mania expect these measures to have a positive influence on their business activities in the remaining months of the year. For the business year 2006 they therefore anticipate a further improvement of their EBIT. Click here to read the full report (PDF).

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March 28 2024 10:16 am V22.4.20-2
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