Manz reports improved Q3 sales, EBIT

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German PV production equipment provider Manz AG saw its revenues grow by 34% to €258.2 million in the first nine months of this year. It also achieved an EBIT of €2.2 million in Q3. Adjusted EBIT for Q1-3, however, was negative at -€2.8 million.

As for the company’s various segments, Manz emphasized that its PV business’ sales and earnings are in line with its plans and that it is now moving forward with large CIGS orders. It added that sales in the solar segment in the first three quarters have improved significantly, from €37.8 million to €88.1 million. EBIT, however, fell from €27 million to €11.7 million.

Business is also performing better in Manz’s energy storage segment, in which sales of €22.7 million and an EBIT of €-7.2 million were both above the level of the previous year. The earnings development in both segments reflects the expenses for the development of new modular products, automation and process modules, as well as for the expansion of sales in Asia, Europe and the USA, Manz went on to say.

“We see the operational developments of the first nine months of 2018 as a key step to a sustainably profitable business model. We have significantly increased revenues in comparison to the previous year. Furthermore, we have generated a clearly positive EBIT in the third quarter,” said CEO Martin Drasch. He also confirmed the forecast for the current year: sales growth of 10 to 14% and a positive EBIT without special effects.