High-tech manufacturing equipment firm, Manz AG reported record revenue for the first nine months of 2014, driven by its Flat Panel Display segment, which generated €179.9 million (US$224.2 million) from the total revenue of €250.9 million.
Revenue generated from its Solar segment remained at very low levels but the company noted improving conditions.
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Solar segment sales were €9.3 million in the first nine months of 2014, compared to €7.5 million in the prior year period.
Although regular payments of €4.5 million from Wurth in respect to the transfer of its CIGS thin-film technology ended, management noted that a potential sale of its first turnkey ‘CIGS fab’ in the “short term” was possible, offering additional revenue upside to its Solar segment in the fourth quarter of 2014.
Dieter Manz, founder and CEO of Manz AG said: “We have further anchored our outstanding reputation as a reliable industry-partner for the development of innovative production systems for growth markets. This is also reflected in the good order and revenue trend in our strategic business areas since the start of the year. Correspondingly, we have a clear outlook on our goal, record revenue and a positive EBIT for 2014.”
Manz also reported EBITDA of €19.6 million, compared to €23.3 million in the first nine months of 2013. The lower EBITDA was due to discontinuation of payments from Wurth. The EBIT amounted to €1.5 million.
Order backlog stood at €50.9 million at the end of September 30, 2014. Manz guided full-year revenue to be in the range of €280 million to €300 million with a positive EBIT.
