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Manz AG makes non-cash impairment on an asset in the solar business and adjusts guidance for 2022

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Manz AG / Key word(s): Change in Forecast
Manz AG makes non-cash impairment on an asset in the solar business and adjusts guidance for 2022

29-Jul-2022 / 12:45 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Publication of inside information pursuant to Article 17 (1) of Regulation (EU) 596/2014 on market abuse (Market Abuse Regulation)

Manz AG makes non-cash impairment on an asset in the solar business and adjusts guidance for 2022

Reutlingen, Germany, July 29, 2022 – As the final negotiations with the Chinese customer Chongqing Shenhua Thin Film Solar Technology Co, Ltd. on the morning of July 29, 2022, did not result in an agreement on the conclusion of the large-scale solar project CIGSfab, the Managing Board of Manz AG, Reutlingen, Germany, (ISIN: DE000A0JQ5U3) decided today to terminate the negotiations with the customer and to make a non-cash impairment in the amount of EUR 23.2 million on a contractual asset from the solar project. Manz AG is now pursuing the goal of asserting its claims through the courts. Due to the impact on earnings development resulting from today's decision and against the backdrop of the unexpectedly strong increase in raw material and energy costs, a changed project mix, ongoing challenges in the global supply chains, and increased economic uncertainties among Manz AG's customers, the Managing Board is adjusting its forecast for the 2022 fiscal year. The adjusted forecast will be announced on August 04, 2022, together with the key financial figures for the first half of 2022.

Additional information:

ISIN: DE000A0JQ5U3
Securities identification number: A0JQ5U

Stock exchange abbreviation: M5Z
Market segment: Regulated Market (Prime Standard) of the Frankfurt Stock Exchange

Manz AG
Steigäckerstraße 5
72768 Reutlingen

Germany

 

Investor Relations Contact:

Manz AG

Axel Bartmann
Phone:  +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-Mail: abartmann@manz.com

cometis AG

Claudius Krause
Phone: +49 (0)611 - 205855-28
Fax: +49 (0)611 - 205855-66
E-Mail: krause@cometis.de

 

29-Jul-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Manz AG

Steigäckerstr. 5

72768 Reutlingen

Germany

Phone:

+49 (0) 7121 9000-0

Fax:

+49 (0) 7121 9000-99

E-mail:

info@manz.com

Internet:

http://www.manz.com

ISIN:

DE000A0JQ5U3

WKN:

A0JQ5U

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1409313


 

End of Announcement

DGAP News Service

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