Diversification strategies at equipment specialist, Manz coupled have led to weak solar segment sales in 2012 have resulted in the sector only accounting for 5% of its order backlog.
The company reported preliminary 2012 revenue of €184.1 million down, 23.5% year-on-year. Manz reported an EBIT loss of €30.7 million, compared to a small EBIT profit of €3.1 million.
Not surprisingly, Manz noted that the losses were primarily related to its solar segment business. The solar segment sales were down 77.5% to €16.4 million, compared to €72.6 million in 2011.
Dieter Manz, CEO and founder of Manz AG said, “We have put a very eventful financial year 2012 behind us. Our overall results are highly significantly affected by the adverse market conditions in the solar industry as well as substantial special effects in the crystalline PV area. However, our comprehensive technological portfolio, the strategic diversification of our company and the transfer of technologies between industries were proven to be successful and correct.”
The company said that its order backlog stood at €128 million, double the level in 2011.