Manz reports declining sales in the second quarter

German engineering company Manz AG, generated sales of €56 million ($62 million) in the second quarter, down 26.2 percent on the second quarter of the previous year (€75.9 million) and from €76.8 million in the first quarter of 2019. Sales revenues in the first half of 2019 totaled 132.8 million ($149 million) compared with €144.4 million in H1 2018. »In the Energy Storage segment, the award of major orders expected in the second quarter is still delayed,« says the company.
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to €5.7 million (previous year: €-0.5 million). Earnings before interest and taxes (EBIT) amounted to minus €3.4 million in the first half of 2019, an improvement on the previous year (minus €4.5 million).
In line with the course of the CIGS project, the Solar segment showed a decline in sales compared with the previous year. According to Manz, customers experienced further delays in the start of installation due to another postponement of the completion dates for the buildings. The award of follow-up contracts will also be further delayed.

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