Manz posts poor solar sales for 2013 but expects to benefit from market recovery this year

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 just €10.4 million ($14.3 million) for 2013, according to preliminary results. For comparison, the same division posted revenue of €16.4 million for 2012, €72.6 million for 2011, €65.7 million for 2010 and €46.9 million for 2009. In 2013, the company’s solar business contributed only 3.9% of total revenue. Despite the poor performance of its solar business, the company said it would not neglect development activities in this segment in order to ensure it has »the opportunity to benefit from the next investment cycle, which is in the offing.«
In 2013, strong sales for Manz’s display division offset the weak performance of its solar business. The company’s display segment recorded revenue of €172.5 million last year, up 55% from €111.3 million in 2012. The company’s battery segment achieved revenue of €9.1 million, down from €14.5 million for the prior year. 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. Manz will publish final results for 2013 on Mar. 28.

Related News