PV division carries Manz thanks to big CIGS order from China

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Manz AG received a €67 million ($76 million) payment for a large CIGS order from China in August. The orders have a total volume of about €263 million, of which the German PV equipment provider has received about €197 million so far, the company announced on Monday.

Contracts include the construction of a CIGS research factory – CIGSlab – with a 44 MW capacity and a CIGS turnkey factory – CIGSfab – with 306 MW of annual capacity to manufacture thin-film modules, and a ground-breaking ceremony was held for both factories at the start of the year.

The current revenues were based on agreed project milestones and Manz will be able to push ahead with the next steps of the order in the planned timeframe, with the project fully on schedule and both facilities set to be complete in mid-2019. In the meantime, Manz expects follow-up orders.

Our entire team is working ambitiously on the next milestones, and we expect follow-up orders to be made from the first half of 2019 onwards, assuming the project continues to be successful,” said Manz CEO Eckhard Hörner-Marass.

Last week Manz published its half-year results. The southern German solar company was able to record an increase in sales of 45% to €173.5 million, compared to the same period of the previous year. This was mainly due to the big CIGS contracts, which increased solar revenues from €16.5 million to €69.3 million within one year. The EBIT of the photovoltaic division was also positive – at €6.5 million – but negative for the overall company, at €5.1 million.