Meyer Burger reports falling sales and rising losses
Post date: 19/08/2021 - 11:14
Swiss manufacturer of production equipment for solar technology Meyer Burger Technology Ltd. reported sales of CHF 18 million ($19.6 million) in the first half of 2021, significantly lower than the CHF 51 million reported in the same period of the previous year. EBITDA was CHF -30.9 million (H1 2020: CHF -25.5 million). Net income was CHF -37.2 million ($-40.6 million) compared to CHF -37.4 million in the previous year. The outlook for the second half of 2021 is non-specific and does not include any concretely named targets or figures.
The results for the first half of 2021 reflected »the strategic realignment of the business model,« the company explains. The capital increase and green convertible bond did not become effective until July 2021 and are not reflected in the balance sheet as of June 30, 2021.
While sales under the old business model were phased out, Meyer Burger will generate its first sales from solar modules from the beginning of the second half of 2021. Production is running continuously in shifts, but full capacity has not yet been reached. With the existing orders from Europe and the USA, the company is »completely sold out until well into the fourth quarter of 2021«. The first projects in the area of solar power plants and large industrial roof systems have been won.
As part of the capacity expansion, Meyer Burger plans to offer special solar modules with high-performance technology for the solar power plant segment from the second half of 2022. For the same period, it is planned to expand the portfolio in the domestic roof segment to include solar roof tiles.