The management board of Manz has responded to the worldwide fall in demand for PV equipment by reducing its revenue and earnings expectations for the 2011 fiscal year. The decision, which will see forecasted revenues adjusted to €220-230 million, was made at a recent board meeting, where it was also revealed that earnings before interest and taxes (EBIT) are likely to be positive or at break-even level.
Outstanding orders, caused by project postponements and cancellations, are primarily responsible for the downward adjustment, and the effect has been felt across the PV industry. Several other major companies, including Canadian Solar and centrotherm, have also recently adjusted their forecasted revenue and EBIT figures.
Manz’s management team is also anticipating a final fiscal year revenue figure of €240-250 million and an EBIT margin of at least 5%. Although these figures are dependent on there being no further deterioration in the overall macroeconomic and sector-specific conditions for the remainder of the year.
