Manz AG Implements Efficiency Program Amid Challenging Market Conditions

Reutlingen, August 6, 2024 - Manz AG has reported a 30.6% decrease in revenue to EUR 98.6 million for the first half of 2024. This drop, from EUR 142.1 million the previous year, reflects a challenging market environment, particularly in the battery sector. EBITDA fell to EUR -1.3 million compared to EUR 17.2 million the previous year, while EBIT was EUR -6.5 million, down from EUR 11.3 million.

Dr. Ulrich Brahms, future CEO, announced a multi-stage efficiency program focused on improving operations and expanding strategic focus on e-mobility and battery markets. CFO Manfred Hochleitner emphasized the program's aim to enhance performance and cost efficiency.

Despite market difficulties, Manz secured a significant cash inflow of EUR 19.3 million post-reporting period, including EUR 8 million from the sale of Manz Hungary Kft and EUR 7.2 million in IPCEI funding. However, revenue in the Mobility & Battery Solutions segment dropped 51.4% to EUR 28.5 million, while Industry Solutions saw a 16.0% decline to EUR 70.1 million.

The order backlog as of June 30, 2024, stands at EUR 157.2 million, with significant improvement not expected until at least 2025.