•  
  •  
  •  

Manz reports negative EBIT, higher revenue in 9-mo 2018

Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

November 15 (Renewables Now) - German solar and other machinery manufacturer Manz AG (ETR:M5Z) reported on Tuesday lower EBITDA and a negative EBIT for the first nine months of 2018, even as revenues increased by 34% to EUR 258.2 million (USD 292m).

Earnings before interest, tax, depreciation and amortisation (EBITDA) went down to EUR 3.8 million from EUR 8.5 million a year ago, while earnings before interest and tax (EBIT) turned to a negative result of EUR 2.8 million from positive EUR 0.8 million. The company said a cable fire at a facility in Taiwan had a negative impact of EUR 2.2 million on its EBIT, without which the result would have been a loss of just EUR 0.6 million.

Still, in the third quarter EBIT was positive at EUR 2.2 million, which is an increase of EUR 8.4 million for the same period a year ago.

"Assuming framework conditions stay the same, we will thus reach our forecast revenue growth of 10-14 % with a positive EBIT without special effects," Martin Drasch, CEO, commented.

in EUR million Jan-Sep 2018 Jan-Sep 2017
Revenue 258.2 192.6
- Solar 88.1 37.8
- Electronics 54.8 63.5
- Energy Storage 22.7 17.0
- Contract Manufacturing 77.4 62.2
- Service 15.1 12.2
EBIT (loss) (2.8) 0.8
- Solar 11.7 27.0
- Electronics (11.2) (16)
- Energy Storage (7.2) (16.7)
- Contract Manufacturing 1.3 2.7
- Service 3.6 3.7
EBITDA 3.8 8.5
- Solar 12.5 29.2
- Electronics (8.8) (13.2)
- Energy Storage (4.9) (14.9)
- Contract Manufacturing 2.2 3.6
- Service 3.7 3.8

(EUR 1 = USD 1.13)

More stories to explore
Share this story
Tags
About the author

Svilena is the latest addition to the Renewables Now team. Based in Italy, she will be focusing on the local market and on the rise of energy storage, e-mobility and mini grids globally.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription