Manz AG improves sales and earnings in the third quarter of 2018

In the first nine months of 2018, German PV equipment manufacturer Manz AG significantly increased its sales to €258.2 million ($290 million) compared to €192.6 million ($217 million) in the same period of 2017. Regarding the third quarter, the company generated sales of €84.7 million ($95 million) compared with €73.0 million ($82 million) in the same period of the previous year. The consolidated result for the first nine months amounted to a loss of €5.11 million ($-5,7 million) compared to €-2.05 million ($-2.8 million) in the previous year. In the third quarter, consolidated net income rose significantly from €-6.7 million ($-7.5 million) to €1.4 million ($1.5 million) in 2018.
At 34 percent, the Solar division accounted for the largest share of total revenue. Sales rose from €37.8 million ($42.8 million) in the first nine months of 2017 to €88.1 million ($99.2 million) in the same period of 2018. According to the company, in connection with orders for two production lines for a manufacture of CIGS thin-film solar modules, Manz received payments of around €43 million ($48 million) and €81 million ($91 million) from its project partners at the beginning of the year and in August, respectively. Since the start of the project in 2017, Manz AG has received around €211 million ($237 million) of a total of around €263 million ($296 million) for the 44 MW CIGS research line (CIGSlab) and the 306 MW CIGS turnkey system (CIGSfab).
Martin Drasch, CEO of Manz AG, confirmed the forecast of sales growth of 10 to 14 percent for the year 2018.
© PHOTON

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