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Manz FY Preliminary EBITDA Declines

Manz AG (MANZF.PK) reported that its preliminary Earnings before interest, taxes, depreciation and amortization or EBITDA for fiscal year 2019 declined to 9.2 million euros from 9.5 million euros in the prior year.

Martin Drasch, CEO of Manz AG, said," In view of the large order backlog, however, we are looking ahead optimistically to 2020."

Revenue for 2019 decreased by 11.0% to 264.4 million euros from the prior year's 296.9 million euros. The decrease was due to customer delays in projects in the solar segment and the postponement of large investments for an expansion of European battery production for the mobility transition.

The company said that it will publish its final figures for financial year 2019 along with a detailed guidance for the current financial year on March 26, 2020.

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