Manz’s Ebit swings to profit thanks to sale of CIGS technology company

In the first six months of 2017, the German PV equipment provider Manz AG has achieved a turnover of €119.6 million ($140.4 million), down from €124.0 million in the same period of 2016. Ebidta, however, improved year-on-year from a loss of €4.5 million to a profit of €12.4 million. Ebit also swung from a loss of €11.7 million in the first half of 2016 to a profit of €7.0 million this year. This was mainly due to a one-time effect of €34.4 million from the sale of Manz CIGS Technology GmbH, which was the company’s CIGS research company, and to other measures it has taken to optimize costs.

The company has substantially concentrated its efforts in the first half of 2017 to the finalization of a $282 million CIGS order it receive from China.

“The realization of the large CIGS orders in the Solar segment is doing well and development in the Contract Manufacturing and Service segments has met our expectations, contributing positively to our results,” the company’s CEO Eckhard Hörner-Marass stated.

As for the the Electronics and Energy Storage segments, the company said it has invested in the development of new products and building up pilot projects, thereby creating a basis for potential orders for future series production.