10/28/2011 11:04:00 CEST
At its meeting today, the Management Board of Manz AG has reduced its revenue and earnings expectations for current fiscal year due to the present market environment for solar equipment, and the related demand decline in the second half of the year. As a consequence, the Management Board now anticipates revenues of between EUR 220 million and EUR 230 million, and earnings before interest and taxes (EBIT) that are still positive or at breakeven level.
The management has assumed to date that it can conclude the fiscal year 2011 with revenues of between EUR 240 million and EUR 250 million and to achieve an EBIT margin of at least 5 percent. This was nevertheless subject to the precondition that there would be no further deterioration in the overall macroeconomic and sector-specific conditions over the remainder of the year. The adjustment to the forecast is attributable to trends in the photovoltaic segment, where outstanding orders, initial project postponements and cancellations have been registered to a minor extent for solar equipment. By contrast, the Flat Panel Display (FPD) and New Business segments, which focus on lithium-ion batteries, lie ahead of the Management Board's original expectations, although this is unable to fully compensate for the trend in the photovoltaic segment.
German Securities Identification Number (WKN) of the shares: A0JQ5U
Trading symbol: M5Z
Trading segment: Regulated market (Prime Standard) of the Frankfurt Stock Exchange
The complete 9-month report 2011 of Manz AG will be published on November 15, 2011 and can be downloaded from the company’s website at www.manz.com within the “Investor Relations” area.