Manz cites evaporating solar bookings as sales decline 23.1%

Facebook
Twitter
LinkedIn
Reddit
Email

A significant fall in orders and bookings within Manz's solar division were partially offset by increased business within its display division, the specialist equipment supplier has reported.

The company said that revenue for the first nine months of 2012 reached €147.7 million, compared with €192.0 million in the previous-year period, a 23.1% decline. The company reported negative earnings before interest and tax (EBIT) of €3.5 million, compared to €3.8 million last year.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The solar division reported revenue of only €14.9 million, down significantly from €57.9 million in the same period a year ago. Manz noted that solar segment sales had made up 30.2% of total sales in the same period last year, while only reaching 10.7% in 2012.

The company noted in its nine month financial statement that solar segment sales had decline  four quarters in a row, despite the majority of its R&D spending having been focused on the solar segment. Manz noted that R&D spending reached 9.3% of total sales in the period covered. 

Dieter Manz, CEO of Manz AG said: “Over the last few years, we have successfully further developed our company from an automation specialist into a supplier of integrated production solutions. We have successfully diversified our business model with our strategic business units, display and battery. The positive order situation in both segments has allowed us to partly compensate the revenues and earnings declines in the solar segment. With an approximately 21% year-on-year revenue increase the display segment has developed very positively.”

CIGSfab sale delayed

As noted in its financial report, Manz had been negotiating with an unidentified customer the sale of its first turnkey CIGSfab production line, since acquiring the technology rights from Wurth Solar.

However, Manz noted that potential customers were impacted by financial constraints and so no deal is expected this year.

Financial guidance

Lower than expected new order intake (€34.2 million) and weakening end-market dynamics have meant the company no longer expects to meet its 2011 revenue levels of €240.5 million, though the company did not provide guidance for the full year.
 

Read Next

August 28, 2025
State-owned firm Electricity Generating Authority of Thailand (EGAT) has launched a tender for the construction of a 280MW floating PV (FPV) project.
August 28, 2025
Bahraini, Chinese, Egyptian and Emirati groups have agreed to develop a new solar and storage manufacturing facility in Egypt
August 28, 2025
Latin America has the potential to unlock billions in clean energy investment if it aligns national policies with global sustainability goals and investor expectations.
August 28, 2025
Indian solar manufacturing firm INA Solar has broken ground on its fourth 4.5GW cell production plant in Narmadapuram, Madhya Pradesh.
Premium
August 28, 2025
US solar companies could potentially pay “tens of billions” of dollars in retroactive duties on products imported from Southeast Asia between June 2022 and June 2024, following a decision from the US Court of International Trade (CIT).
August 28, 2025
Boviet Solar has completed exterior construction work on its 3GW PV cell manufacturing facility in Greenville, Pitt County, North Carolina. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines