Technology manufacturing equipment firm, Manz AG reported lower first half 2015 sales as orders from several business segments were said to have been delayed or cancelled.
Manz reported Solar segment sales of around €10.5 million (US$11.5 million) for the first six months of 2015, up 3.9% from the same period of 2014.
The Solar segment posted a negative €7 million (US$7.7 million) EBIT in the first half of 2015. Solar segment order backlog was around €7 million in the first half of 2015.
Energy Storage segment sales were €49.7 million (US$54.7 million) in the period and accounted for the largest share of sales.
Manz group sales totalled €121.9 million (US$134.3 million) during the first six months of 2015, compared to €163.6 million (US$180.3 million) in the prior year period.
Dieter Manz, CEO and founder of Manz AG said: “The revenue trend in the first six months fell short of our expectations due to customer decisions beyond our control. The positive signals in all three business segments as well as the solid orders on hand amounting to approximately €100 million, however, provide an excellent basis for improved performance in the second six months. Specifically in view of the current vibrancy in the Energy Storage segment and the significant potential in our target industries of electronics and solar, I am convinced of the success of our business model.”
Manz said it expected moderately lower revenues for the full year in comparison with the previous year and an improved, but negative EBIT.