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Manz AG Turns To Profit In FY17, Revenues Climb; Stock Up - Quick Facts

High tech equipment manufacturer Manz AG (MANZF.PK) reported Thursday an earnings before interest and taxes or EBIT of 1.6 million euros, compared to last year's loss of 35.9 million euros. The latest results included the special solar effect through the sale of Manz CIGS Technology GmbH.

The company EBITDA was 11.5 million euros, compared to loss of 21.8 million euros a year ago.

Revenue climbed 40.7 % to 325.0 million euros from previous year's 231 million euros.

The company recorded a revenue contribution of 132.3 million euros and a positive EBIT in the fourth quarter of 2017 particularly reflect the company's positive development.

Chief Financial Officer Voss von Dahlen said, "Our company-wide measures for sustainably increasing competitiveness and profitability are taking effect, which has been proven by our corporate development. Following two years marked by losses in 2015 and 2016, we managed to achieve the turn-around in 2017 - we are now showing positive operational results including the special effect of the Solar segment."

Manz AG will publish its final figures for financial year 2017 on March 29.

by RTTNews Staff Writer

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