Manz AG with positive revenue and earnings development in the first half of 2023

08/03/2023 07:30:00 CEST, Reutlingen Revenues increase by around 12% year-on-year to EUR 142 million | Mobility & Battery Solutions segment with significant revenue growth of 18% | Solid revenue growth of 8% in the Industry Solutions segment | Significant earnings improvement results in EBIT margin of 7%

Manz AG, a global high-tech engineering company with an extensive technology portfolio, recorded an increase in revenues to EUR 142.1 million in the first six months of 2023, compared to EUR 126.7 million in the same period of the previous year. The increase of 12.2% is attributable to the expansion of business in the two divisions Mobility & Battery Solutions and Industry Solutions. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 16.1 million in the first half of 2023 (previous year: EUR 0.1 million), with the EBITDA margin rising to 10.7%. The significantly improved EBITDA was due to a positive effect of around EUR 6 million from a share swap with Customcells and a significantly improved material cost ratio. As a result, earnings before interest and taxes (EBIT) also improved significantly to EUR 10.3 million (previous year: EUR -5.7 million) with an EBIT margin of 6.8%.

Martin Drasch, CEO of Manz AG, comments: "The developments in the first half of 2023 send mixed signals. On the one hand, we are very pleased with the increase in Group revenues and the very positive improvement in earnings. On the other hand, we have been registering a certain reluctance to invest since the beginning of the year, which is also reflected in our order intake. Nevertheless, we are generally optimistic about the future, as we have a strong basis for our future development with an order backlog of EUR 221 million. In addition, we expect order intake to regain significant momentum in all areas in the course of the second half of the year."

In the Mobility & Battery Solutions segment, Manz achieved significant revenue growth of 18.0% to EUR 58.6 million (previous year: EUR 49.7 million) in the first six months of 2023. Influenced by a positive effect from the share swap with Customcells, the segment's EBIT improved significantly to EUR 5.6 million in the reporting period, compared to EUR -9.0 million in the first half of 2022. In the Industry Solutions segment, revenues in the first half of 2023 grew by 8.4% year-on-year to EUR 83.4 million (previous year: EUR 77.0 million) due to the progressive processing of the order backlog. At the same time, the segment EBIT benefited from a significantly lower material cost ratio and increased to EUR 4.7 million compared to EUR 3.2 million in last year's period.

As a result of the described business development in the first half of 2023, the Managing Board continues to assume that the forecast for the full year can be achieved, although ongoing challenges in the predictability of order development are to be expected. Thus, an increase in revenues in the lower double-digit percentage range compared to 2022, an EBITDA margin in the mid positive single-digit percentage range and an EBIT margin in the low positive single-digit percentage range are still expected for the fiscal year 2023.

Revenues, EBITDA and EBIT H1 2023 year-on-year

in EUR million

H1 2023

H1 2022

Group Revenues



Mobility & Battery Solutions



Industry Solutions









Mobility & Battery Solutions



Industry Solutions






Group EBIT



Mobility & Battery Solutions



Industry Solutions



The full report for the first six months of 2023 is available for download from today on the company's website in the Investor Relations / Publications section.


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