Meyer Burger posts EUR-36m H1 loss on slow business

Image by Meyer Burger (www.meyerburger.com).

Meyer Burger Technology AG (SWX:MBTN) posted a net loss of CHF 38.6 million (USD 42.4m/EUR 35.9m) for the first half of 2020, in which business was constrained by the German solar technology firm’s strategic realignment and the COVID-19 crisis.

The year-ago bottom-line result was a profit of CHF 1.8 million.

Orders and revenues fell, and the company’s earnings before interest, tax, depreciation and amortisation (EBITDA) were in the red, as can be seen in the table.

Results in CHF million	H1 2020	H1 2019
Net sales	51	122.6
EBITDA (loss)	(27.5)	14.5
EBIT (loss)	(32.3)	6.5
Net profit (loss)	(38.6)	1.8
Incoming orders	32.2	94

For several months now, Meyer Burger has been working towards becoming a solar module manufacturer. As part of its strategic transformation, its heterojunction/SmartWire machines will be manufactured exclusively for its own use in the future.

The company aims to start in-house production of photovoltaic (PV) cells and modules in the second quarter of 2021. Its capacity will be 400 MW then, but it has plans to expand that up to 5 GW.

(CHF 1 = USD 1.1/EUR 0.93)

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