Manz AG is publishing its quarterly release on the first nine months of 2017. According to the release, following a restrained start in the first quarter of 2017, the company was able to continue its improved business development from the second quarter into the third quarter of 2017. After a stable development in all segments during the third quarter, the group's sales revenues of 192.6 million euros (previous year: 167.3 million euros) and earnings before interest, taxes, depreciation, and amortization (EBITDA) of 8.5 million euros (previous year: -15.2 million euros) and earnings before interest and tax (EBIT) of 0.8 million euros (previous year: -25.7 million euros) were significantly above the previous year’s values in the 2017 reporting period.
Eckhard Hörner-Marass, CEO of Manz AG, commented: "We continued to consistently pursue our program of optimization in the third quarter of 2017 as well. We in the Executive Board made resolutions on and introduced further necessary measures to continuously and sustainably improve the competitive position and profitability of Manz AG through targeted organizational and process improvements, and through restructuring our product portfolio. All in all, we see ourselves on the right track." Gunnar Voss von Dahlen, Chief Financial Officer of Manz AG, adds: "Such an intensive process can’t be concluded overnight; it requires investment and takes resources. This is reflected in our figures for the first nine months. However, we are making all of these efforts under the firm conviction that they are allowing us to lay the foundation for long-term, profitable corporate success at Manz AG."
Considering the individual Manz AG segments, both revenues and earnings in the segments Solar, Contract Manufacturing, and Service were better than relevant values from the previous year, and therefore within the Executive Board’s expectations. Also after the third quarter of 2017, the company's focus in the segments Electronics and Energy Storage remains on attracting new customers and developing new products, as well as on concluding pilot projects in preparation for potential subsequent orders for future series production. Over the first nine months of 2017, the advance investments necessary for this work resulted in the earnings in both segments being below the respective values in the previous year.
The Executive Board of Manz AG sees the company on target, with an order backlog of 287.3 million EUR as of September 30, 2017. CIGS solar orders are being handled within the projected schedule. Therefore, based on the progress being made, the company expects to see the majority of solar revenues planned for 2017 over the fourth quarter. The Electronics and Energy Storage segments have seen some initial success in gaining new customers. In addition, the company has tapped into new applications in the Energy Storage segment, for instance the area of power tools, so that its operational success is not solely dependent on medium-term growth opportunities in electro-mobility. In both the Electronics and Energy Storage segments, the Manz AG Executive Board wants to make the company more independent from individual customers and industries, thereby generating more overall stability. The Contract Manufacturing segment continues to show consistent, dynamic, profitable growth, while Service will continue to help improve the overall profitability of Manz AG in the future.