Manz confirms revenue drop for its solar division in 2013

Despite the poor performance of its solar business in 2013, Manz plans to continue solar development activities to ensure it can compete in the solar industry's next investment cycle.

The solar division of German equipment manufacturer Manz AG recorded revenue of €10.4 million ($14.3 million) for 2013, according to final results. In 2012, the division was able to generate sales in amount of €16.4 million. In the past year, the company’s solar business contributed only 3.9% of total revenue. Despite the poor performance of its solar business, the company said it sees »great upside potential in our Solar division in 2014, owing to increasing demand on solar modules on the retail market.«
Overall, the company achieved total revenue of €266.2 million for 2013, a 45% improvement over 2012. Manz incurred an EBIT of €3.1 million last year, up from a negative EBIT of €30.7 million in 2012.

Related News