Manz goes against the grain to record positive 1H figures

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, Manz’s 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."