Manz AG (Reutlingen, Germany), a globally
active high-tech equipment manufacturer with an extensive technology
portfolio covering the three strategic business segments of
"Electronics", "Solar (Photovoltaics)" and "Energy Storage," on August
11th, 2016 published its financial report for the first six months of 2016.
Earnings before interest, taxes,
depreciation and amortization (EBITDA) amounted to EUR -4.5 million in
the reporting period (previous year: EUR -6.7 million). Earnings before
interest and taxes (EBIT) amounted to EUR -11.7 million (previous year:
EUR -12.9 million).
Consolidated net loss came to EUR -17.0 million
(previous year: EUR -15.0 million), corresponding to earnings per share
of EUR -2.84 (previous year: EUR -2.94).
Order stop by a major customer
Following a good start to the year in the first
three months of 2016, in the second quarter the company was confronted
with the preliminary order stop by a major customer on short notice.
At the same time, however, with the successfully
completed capital increase and the investment by Shanghai Electric in
Manz AG, an important strategic milestone was achieved, and a sound
foundation was created for the company to develop positively in the
future again.
"We have had a good start into the year and
initially were also able to continue this development in the second
quarter. Our operating business showed a slight upturn which could be
felt in revenues of around EUR 124 million,” comments Dieter Manz, CEO
and founder of Manz AG.
“With our restructuring measures, we have
successfully implemented the first steps for lowering our cost basis.
But unfortunately the preliminary order stop of a major customer in the
Energy Storage business segment caught us off guard, and therefore we
are missing revenue in the middle single-digit millions range. This
resulted in a negative EBITDA in the first six months of EUR -4.5
million."
Managing Board expects a significant increase in revenues
The Managing Board continues to be confident on the
development in the second half-year. This is based essentially on the
strategic cooperation with Shanghai Electric. The detailed planning for
the future cooperation is on schedule, the company notes. Manz AG
expects, that it will be able to report specifically on the next steps
during the course of the third quarter.
Overall, the Managing Board therefore expects a
significant increase in revenues with significantly improved earnings
before interest and taxes (EBIT) for the full year.
However, above all there are planning uncertainties
due to the ongoing customer discussions in connection with the order
stop in the Energy Storage business segment.
Solar PV segment significantly increases share in total revenues
At EUR 49.8 million, the Electronics segment
realized 40.2% of total revenues in the reporting period (previous year:
EUR 42.3 million or 34.7%).
After six months the Solar PV segment had generated
around EUR 17.5 million or 14.1% of Manz AG's total revenues (previous
year: EUR 10.6 million or 8.6%).
The Energy Storage segment accounted for a EUR 34.9
million share of revenues or 28.1% in the reporting period (previous
year: EUR 49.7 million or 41.0%) with equipment for the production of
lithium-ion batteries and capacitors.
The Contract Manufacturing reporting segment was
responsible for revenue contributions of EUR 15.0 million or 12.1%
(previous year: EUR 14.2 million or 11.6%).
Revenues in the reporting segment Others totaled EUR
6.9 million, following EUR 5.2 million in the prior-year period; this
corresponds to a revenue share of 5.5%, following 4.1% in the first two
quarters of 2015.
source: http://www.solarserver.com
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