While the news has recently been dominated by stories of negative financial performance due to the difficult solar market conditions, it seems there are some who are weathering the challenges rather well.
In announcing its first half figures for 2011, German production systems provider, Manz has recorded positive growth. Having earned 129.8 million in the first six months of the year, the company almost doubled its revenues in comparison with 2010, which saw 67.5 million generated.
Furthermore, Manzs operating revenue rose from 77.6 million in the first six months of 2010 to 142.3 million this year.
In a statement, the company said that one of the strongest growth drivers was its new solar products, which were said to have benefited from high Asian demand.
EBIT also showed impressive year-on-year growth, having increased from an operating loss of -1.5 million in the first six months of 2010, to 3.5 million in 2011. The company adds that when taking into account its "slightly" negative net financial result of -0.3 million, EBT stood at 3.2 million.
Looking ahead, Manz says it is confident it can reach its projected revenue of between 240 million and 250 million. However, it adds that due to the unstable market conditions, predictions for the second half are difficult to make.
"Should macroeconomic and sector conditions worsen further over the course of the year, the risk exists that the company cannot fully achieve the targets it has set for itself," said the company statement.
Dieter Manz, CEO of Manz AG, added, "The currently critical capital market environment, particularly for solar stocks, shows that it was correct for us to diversify our business model, and to orientate ourselves consistently toward high-growth sectors of the future.
"Along with an optimised cost structure that has smoothed our path back to profitability, innovative products at competitive prices are the key to sustainable success for us."
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.