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

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

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