DGAP-News

Manz AG: Orders amounting to EUR 263 million for turnkey lines and strategic cooperation mark breakthrough in CIGS thin-film solar business

DGAP-News: Manz AG / Key word(s): Alliance/Incoming Orders Manz AG: Orders amounting to EUR 263 million for turnkey lines and strategic cooperation mark breakthrough in CIGS thin-film solar business 23.01.2017 / 18:44 The issuer is solely responsible for the content of this announcement. Manz AG: Orders amounting to EUR 263 million for turnkey lines and strategic cooperation mark breakthrough in CIGS thin-film solar business

- Bulk orders for two turnkey CIGS production lines totaling 350 MW capacity by far the largest orders in the company's history ever

- Manz enters strategic cooperation including solar joint ventures with two leading companies in China's energy sector to commercialize CIGS thin-film technology

- Cooperation lays foundation for sustainable profitable corporate development of Manz AG and opens up immense revenue potential for the future

Reutlingen, January 23, 2017 - Manz AG (ISIN: DE000A0JQ5U3) has entered into a strategic cooperation with Shanghai Electric Group Co., Ltd. and Shenhua Group Co., Ltd. in the field of CIGS thin-film technology. In the course of that, Manz AG received two bulk orders, one for a CIGS production line with a capacity of 306 MW and another one for a CIGS R&D line with 44 MW capacity. The order for the R&D line has been placed by a newly established R&D Joint Venture, the order for the CIGS turnkey mass production line (CIGSfab) by a newly established module joint venture of affiliated subisidiaries of Shenhua Group and Shanghai Electric. This CIGSfab, which will be the largest CIGS production line in China and the second largest worldwide, will be built in Chongqing. The installation will start in 2017 and will be finished in the following year 2018. Considering the immense potential worldwide this order, however, is considered only as a first step. The order volume totals EUR 263 million and will affect revenues and earnings during the financial years 2017 and 2018. Due to corresponding down payment agreements, these orders will be realized cash flow positive. Both, the cooperation as well as the orders received, form the basis for a profitable corporate development of Manz AG and prove the technological and cost leadership of CIGS thin-film technology.