REUTLINGEN (dpa-AFX) - German engineering company Manz AG (MANZF.PK) revised its annual forecast of a revenue volume of 320 million euros - 340 million euros and a clearly positive EBIT, following its strategy conference.
This was due to a recently received order cancellation with a volume of about 12 million euros in the Electronics division. This resulted from the end customer's decision for an alternative technical solution in the final product, and was consequently not a result of Manz AG's responsibility. The related follow-up orders which were included in the annual forecast, with a high, double-digit million volume in Euros, could likewise not be realized as a result.
The incoming orders delay in the Energy Storage segment also contributed to the forecast adjustment. The orders which were actually anticipated for April and June are expected to be placed in the next few weeks. As a result, planned revenues shift to a large degree to the fourth quarter and to the next year.
Consequently, the company now expects a moderate decline in revenues for the 2015 fiscal year compared to the previous year's revenues of 305.9 million euros, and an improved but likely negative EBIT for the 2015 year.
Copyright RTT News/dpa-AFX