REUTLINGEN (dpa-AFX) - Manz AG (MANZF), a German high-tech equipment manufacturer, reported Thursday that its first-half Group earnings before interest and taxes or Group EBIT improved significantly to 10.3 million euros, compared to last year's loss of 5.7 million euros. EBIT margin was 6.8 percent.
Earnings before interest, taxes, depreciation and amortization or EBITDA amounted to 16.1 million euros, significantly higher than last year's 0.1 million euros. EBITDA margin grew to 10.7 percent.
Manz recorded a 12.2 percent increase in revenues to 142.1 million euros from 126.7 million euros in the same period of the previous year. The increase was attributable to the expansion of business in the two divisions Mobility & Battery Solutions and Industry Solutions.
Looking ahead for the fiscal year 2023, the company continues to expect an increase in revenues in the lower double-digit percentage range, an EBITDA margin in the mid positive single-digit percentage range and an EBIT margin in the low positive single-digit percentage range.
Martin Drasch, CEO of Manz AG, said the company expects order intake to regain significant momentum in all areas in the course of the second half of the year.
In Germany, Manz AG shares were losing around 2 percent to trade at 16.20 euros.
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