Meyer Burger widens loss in 2020

The Swiss manufacturer of production equipment for solar technology Meyer Burger Technology Ltd achieved in 2020 net sales of CHF 90.4 million ($96 million), a sharp decline of 65 percent to CHF 262 million in 2019. According to the company, net sales decreased »due to the ongoing transformation, specifically the phase out of equipment manufacturing and the move towards cell and module productions.« Meyer Burger's net sales declined continuously since 2017 (CHF 473 million).
Sales development further decreased to CHF 39.5 million in the second half of 2020 from CHF 51.0 million in the first half of 2020. The regional sales mix has changed slightly from the previous year, although Asia remained the most important sales region for Meyer Burger: Asia accounted for 64 percent of net sales in 2020 (72 percent in 2019), while Europe accounted for 30 percent (23 percent in 2019) and the Americas for 6 percent (5 percent in 2019).The regional sales mix is expected to change under the new business model. Net result is CHF-64.4 million ($-69.2 million), in 2019 net result was CHF -22.9 million.
Meyer Burger achieved incoming orders of CHF 44.3 million in the fiscal year 2020, compared to CHF 188.3 million in 2019. Adjusted for divestments, incoming orders decreased by 78.6 percent. Orders on hand as at December 31, 2020 amounted to CHF 36.2 million (End of December 2019: CHF 105.1 million).

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