Manz AG Responds to Market Environment with Efficiency Program

Manz AG, a global high-tech equipment manufacturer, announced plans to implement a comprehensive efficiency program due to challenging market conditions. The European electromobility market has notably slowed, causing the company to adjust its 2024 forecast. Revenue and earnings are expected to fall significantly below the previous year’s figures.

The reluctance of European customers to invest in battery production has led to a shortfall in order intake. The Managing Board does not anticipate market improvements in the coming months and expects the weak order intake to persist through the second half of 2024.

This scenario has prompted a reassessment of the business situation. Sales and earnings for 2024 are expected to fall primarily in the Mobility & Battery Solutions segment. However, the Industry Solutions segment holds a higher order backlog from the previous year, indicating steadier development.

The Managing Board and Supervisory Board are evaluating various measures to tackle these challenges. An action plan focusing on improving operational performance, streamlining processes and structures, and reducing costs will be defined and disclosed in the coming weeks.