26.10.2015
Manz AG DE000A0JQ5U3
DGAP-Adhoc: Manz AG: Managing Board Lowers Forecast for Fiscal Year 2015 and Initiates Restructuring Program
Manz AG / Key word(s): Change in Forecast
26.10.2015 17:38
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.
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Manz AG: Managing Board Lowers Forecast for Fiscal Year 2015 and Initiates
Restructuring Program
Reutlingen, October 26, 2015 - As part of its preparation of the interim
financial statements for the third quarter of 2015, the Managing Board of
Manz AG, Reutlingen (ISIN: DE000A0JQ5U3) lowered the forecast for the full
fiscal year. This adjustment was necessary as a result of further order
delays in the business segments Energy Storage and Electronics, primarily
by customers in Asia. In particular, the macroeconomic cooling off in China
as well as the developments on the Chinese capital markets in the past
weeks have led to a significantly restrained propensity on the part of
customers to invest. Therefore, in the opinion of the Managing Board, a
significant amount of sales that had been anticipated for 2015 is now not
expected to be realized before the next fiscal year.
The Managing Board now expects revenues for fiscal year 2015 between 200
and 210 million euros and negative earnings before interest and taxes
(EBIT) in the mid tens of millions (previous reduced forecast for 2015:
moderately lower revenues compared with the previous year in the amount of
305.9 million euros and improved, but negative EBIT). According to
management estimates the equity ratio will be above 40% at the end of
fiscal year 2015.
As a consequence the managing board will initiate a restructuring program.
The key measures and connected restructuring costs will be presented at the
end of November 2015. The optimization of the cost structure will be at the
heart of this program in order to reach the break-even based on the current
level of revenues as of the upcoming fiscal year. This cost structure shall
form the basis to start growing again. Manz AG will focus on its growth
markets Consumer Electronics and Energy Storage. In contrast, the strategic
options for the business segment Solar will be evaluated. It is the
objective that this business unit will not lead to a further cost burden as
of the 2016 financial year.
The complete figures for the third quarter will be published on November 9,
2015.
Additional information:
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Ticker symbol: M5Z
Market segment: regulated market (Prime Standard) of the Frankfurt Stock
Exchange
Manz AG
Steigäckerstrasse 5
72768 Reutlingen, Germany
Germany
< End of the Ad-hoc Announcement>
Investor relations contact
cometis AG
Ulrich Wiehle / Claudius Krause
Tel.: +49 (0)611 - 205855-28
Fax: +49 (0)611 - 205855-66
E-mail: [email protected]
Manz AG
Axel Bartmann
Tel.: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-Mail: [email protected]
26.10.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Manz AG
Steigäckerstr. 5
72768 Reutlingen
Germany
Phone: +49 (0) 7121 9000-0
Fax: +49 (0) 7121 9000-99
E-mail: [email protected]
Internet: http://www.manz.com
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Indices: TECDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
End of Announcement DGAP News-Service
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