PV business pushes up Manz sales

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In the first half of the year, Manz AG was able to significantly increase its sales by 45% to €173.5 million compared to the same period of the previous year. The sales in both quarters were similarly high, the company said in its financial statement.

Earnings before interest and taxes (EBIT) in the second quarter had been adversely affected by the cable fire at its Taiwan site. Adjusted EBIT amounted to €0.1 million, but the fire caused a one-off effect of €2.2 million.

Nevertheless, overall profitability improved further compared to the first quarter. EBIT loss for the period was €5.1 million. This compares to an EBIT of €7 million in the same period of the previous year, due to a one-off effect from the sale of Nice Solar Energy GmbH. The proceeds from the sale resulted in €34.4 million.

The Manz solar segment contributed significantly to the sales increase. The PV equipment provider was able to grow its revenues from €16.5 million to €69.3 million within one year. The segment also accounted for the largest share of total sales. This is due to the scheduled processing of CIGS large orders, the company stated. The Energy Storage division, meanwhile, saw slightly increased sales, from €12 million to €13.8 million in the first half of 2018.

In terms of EBIT, the solar segment contributed €6.5 million in the first half of the year. In the previous year, the result was €26.2 million, due to the one-off effect mentioned above. As a result, the PV division at Manz was the most profitable in the first six months of this year. In comparison, EBIT in the Energy Storage division was €-6.2 million, almost half the loss compared to the first half of 2017.

Manz further recorded an order intake of €196 million. The order book thus improved to €240 million. CEO Eckhard Hörner-Marass said the results of the first half of the year represent “another step in the right direction”.

“Based on this good order situation, as well as an expected steady increase in productivity in all business areas, we anticipate a correspondingly improved sales and earnings performance in the second half of 2018 and thus see ourselves on target for the year as a whole,” he said. He also confirmed the forecast for the year on the assumption of unchanged general conditions.