REUTLINGEN (dpa-AFX) - High tech equipment manufacturer Manz AG (MANZF.PK) reported that its earnings before interest, taxes, depreciation and amortization or EBITDA for the first nine months of 2020 more than tripled to 17.6 million euros from the previous year's 5.8 million euros.
Earnings before interest and taxes or EBIT were 8.2 million euros compared to negative 7.7 million euros in the previous year.
Revenues for the first nine months of the year fell to 172.4 million euros from the previous year's 198.2 million euros.
The company revised its full year revenue forecast downwards. Instead of a slight to moderate revenues growth, a slight year-on-year downturn in revenues is now expected for the year as a whole.
The company continues to expect an EBITDA margin in the mid-single-digit percentage range and an EBIT margin in the low-single-digit percentage range.
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