Manz reports revenue and profit increase

Manz AG has been able to expand its business and report positive business developments for the third quarter of this year. The company achieved a revenue of €192.6 million during the period, a 15% increase from the same period last year,

Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 8.5 million (previous year: € -15.2 million) and earnings before interest and taxes (EBIT) to € 0.8 million (previous year: -25, 7 million euros).

“We continued to consistently pursue our program of optimization in the third quarter of 2017 as well,” said CEO Eckhard Hörner-Marass. Manz has decided and acted upon the need for further measures to reduce costs and streamline the product portfolio. Chief Financial Officer Gunnar Voss added: “Such an intensive process can’t be concluded overnight; it requires investment and takes resources. This is reflected in our figures for the first nine months. However, we are making all these efforts under the firm conviction that they are allowing us to lay the foundation for long-term, profitable corporate success at Manz AG.”

Manz’s order book stood at € 287.3 million at the end of September, in line with the previously announced target. The company also said that the CIGS photovoltaic orders are within the planned timetable. Much of the photovoltaic sales anticipated for this year, however, will be included in the results of the fourth quarter.

For the current financial year, the Manz Executive Board continues to expect a significant increase in sales. Turnover should rise to at least 350 million euros, and a positive EBIT is also expected. In the previous year Manz had to record a loss of almost 36 million euros.