Slow solar equipment business bites Manz

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The diversified equipment supplier said in a statement, "the Management Board now anticipates revenues of between 220 million euros and 230 million euros." These earnings will deliver earnings before interest and taxes (EBIT) that are, "still positive or at breakeven level."

If revenues of between 240 million and 250 million euros are realized, then an EBIT margin of at least five percent can be delivered. This is subject to the market not deteriorating further.

Manz has highlighted its photovoltaic and, in particular, CIGS, flat panel display and lithium-iodide battery equipment business to be areas of growth for the company.

In its photovoltaic business, Manz reports "outstanding order, initial project postponements and cancellations," although only, "to a minor extent."

By contrast the company’s flat panel display and lithium-ion battery business is exceeding the board’s projections, although this is insufficient to compensate for the photovoltaic slump.

Founder and CEO Dieter Manz has told pv magazine that despite the tough market he is committed to the photovoltaic business in general, and the CIGS technology the company has developed in partnership with Würth Solar.

He continued that while Manz has not yet sold a CIGS turnkey line, it is fielding enquiries, "almost every day, with customers all over the world."

"So far we could not sell a line, the interest level is very high, but everybody is really confused about the market and there’s no sign of a market recovery for solar in Germany. Other markets are growing but not fast enough to offset what is missing in Germany right now."

The December edition of pv magazine will include a feature article of CIGS technology and market.

The complete nine-month report 2011 from Manz AG will be published on November 15.