Contact
QR code for the current URL

Story Box-ID: 992625

Meyer Burger Technology AG Schorenstrasse 39 3645 Gwatt (Thun), Switzerland http://www.meyerburger.com
Contact Ms Nicole Borel +41 33 221 28 34
Company logo of Meyer Burger Technology AG
Meyer Burger Technology AG

Meyer Burger announces preliminary financial information for fiscal year 2019

Board of Directors continues to explore all strategic options

(PresseBox) (Gwatt (Thun), )
Meyer Burger Technology AG (SIX Swiss Exchange: MBTN) today announced preliminary unaudited results for the fiscal year 2019. Financial key figures reflect the ongoing transformation of the Group and the divestments. Meyer Burger achieved incoming orders of CHF 188 million in fiscal year 2019, compared to CHF 326.8 million in 2018. Adjusted for the divestments, incoming orders decreased by approximately 32%. Orders on hand as of 31 December 2019 amounted to CHF 105 million (31.12.2018: CHF 200 million, excluding the orders transferred with the sale of the wafering business). The book-to-bill ratio was 0.72 for fiscal year 2019 (0.59 in 2018).

 

Regarding the announced North American framework contract for the Heterojunction (HJT) core equipment, the closing is not yet finalized.

 

Net sales reached approximately CHF 262 million (2018: CHF 407.0 million), broadly in line with analyst consensus. Adjusted for divestments and currency effects, the organic decline in sales for the continuing operations was -27%. Total cash as of 31 December 2019 was CHF 62 million, thereof CHF 26 million with limited availability.

 

Meyer Burger announced on 15 August 2019 that it entered into a memorandum of understanding (MoU) for a strategic collaboration with REC Solar Pte. Ltd (REC). The negotiations with REC are progressing towards a close strategic cooperation. This partnership is expected to allow both parties to benefit from the commercial value of its disruptive high-efficiency technology as well as to protect its intellectual property in the coming years, thereby reducing the risk of commoditization.

 

As announced earlier in 2019, the Board of Directors continues to evaluate all strategic, commercial and capital market options for Meyer Burger and has hired Credit Suisse as its financial advisor.

 

Meyer Burger has entered into discussions with its largest shareholder, Sentis Capital PCC, with the goal of creating significant long-term shareholder value for all stakeholders.

 

Further details on the financial statements for 2019 as well as the annual report 2019 will be published on 12 March 2020.

Website Promotion

Website Promotion

Meyer Burger Technology AG

Meyer Burger is a leading technology company with a global presence, specializing in innovative systems and production equipment for the photovoltaic (solar) industriy. As an internationally renowned premium brand, Meyer Burger offers its customers in the PV industry dependable precision products and innovative solutions for the manufacture of high-efficiency solar cells and solar modules.

The comprehensive product range is complemented by a worldwide service network with spare and wearing parts, consumables, process know-how, maintenance and after-sales service, training courses and additional services. Meyer Burger is represented in the respective key markets in Europe and Asia and has subsidiaries and its own service centers in China, Germany Japan, Korea, Malaysia, Switzerland, Singapore, Taiwan and the USA. The registered shares in Meyer Burger Technology AG are listed on the SIX Swiss Exchange (ticker: MBTN).

The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.
Important note:

Systematic data storage as well as the use of even parts of this database are only permitted with the written consent of unn | UNITED NEWS NETWORK GmbH.

unn | UNITED NEWS NETWORK GmbH 2002–2024, All rights reserved

The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.