DGAP-Adhoc: Manz AG makes non-cash impairment on an asset in the solar business and adjusts guidance for 2022
DGAP-Ad-hoc: Manz AG / Key word(s): Change in Forecast 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 Stock exchange abbreviation: M5Z Manz AG Germany
Investor Relations Contact: Manz AG Axel Bartmann cometis AG Claudius Krause
29-Jul-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Manz AG |
Steigäckerstr. 5 | |
72768 Reutlingen | |
Germany | |
Phone: | +49 (0) 7121 9000-0 |
Fax: | +49 (0) 7121 9000-99 |
E-mail: | [email protected] |
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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1409313 29-Jul-2022 CET/CEST
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