Manz AG: Preliminary Order Stop In The Energy Storage Segment With Potential Impact On The Forecast 2016
Last night Manz AG, Reutlingen, was informed by an major customer that the customer will stop a large project in the Energy Storage segment. In the short term, the Management Board of Manz AG will enter into discussions with the customer if this order will be accomplished at a later stage. A final statement on whether this contract will be postponed or cancelled and its potential impact on 2016 revenues and earnings guidance will be possible after final negotiations.
Therefore there is the risk that the company`s previous expectation for 2016 – a significant revenue increase compared to revenues of EUR 222 million in fiscal year 2015 and a significantly improved earnings before interest and taxes (EBIT) compared to the EBIT of EUR -58.2 million in fiscal year 2015 – cannot be achieved.