Manz records significant net loss

Share

Following a number of incoming order delays in its electronics and energy storage segments, particularly in China, and the cancelation of a bulk order in its electronics division worth around €12 million, all in the first six months of 2015, Manz has seen its earnings plummet.

Overall net loss for the first three quarters of the year has fallen from €-0.8 million in 2014 to €-33.8 million. EBITDA recorded a massive loss, of €20.6 million euros, down on the gain of €19.6 million a year ago; while EBIT totaled €-30.1 million euros, compared to €1.5 million.

Revenues also fell, from €250.9 million to just €169 million. Of this, the solar segment generated around €17.2 million euros or 10.2% of total revenues, up from €9.3 million or 3.7% in 2014.

The energy storage segment saw very positive revenues of €55.6 million, representing 32.9% of total revenues, up significantly from €12.2 million or 4.9%. Marking the biggest revenue loss was Manz’s electronics segment, which saw revenues tumble from €189.4 million or 75.5% last year, to €65.3 million, or 38.7% this year.

Restructuring

On the back of the order situation, Manz revised its full year revenues forecast down in July, from between €320 million to €340 million, to between €200 million and 210 million. Then at the end of last month, it announced a restructuring program, under which it would assess the future of its solar segment.

The company informed pv magazine in a statement at the time that the options being considered were: to find a strategic investor; to find a buyer for the solar technology portfolio; and in the worst case, to close down its solar operations.

It expanded today by saying, "the Managing Board is examining options for the Solar segment since negotiations concerning the sale of a CIGSfab are drawing out longer than expected. The goal is that beginning with the fiscal year 2016, no further cost burden will arise from this segment." Manz expects to present the key measures and associated expenses related to the restructuring this December 10. Overall, the company will focus on its electronics and energy storage segments.

"In the course of the restructuring program, it will be essential to the success of our company that we significantly increase planning reliability, transparency and flexibility within the Group so that we can better manage the risks associated with cancellations of large-scale orders," commented CEO and founder, Dieter Manz. "I firmly believe that together we will overcome these challenges."

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: editors@pv-magazine.com.

Popular content

Switzerland authorizes removable PV plant on railway track

04 October 2024 Swiss startup Sun-ways is planning to build a 18 kW pilot PV system between the racks of a 100-m linear section of a railway line in the Swiss canton...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

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.