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Meyer Burger sees falling 2019 net sales, orders

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

February 13 (Renewables Now) - Swiss solar technology company Meyer Burger Technology AG (SWX:MBTN) today posted preliminary results for 2019, unveiling declines in both net sales and incoming orders that “reflect the ongoing transformation of the group.”

Incoming orders fell to CHF 188 million (USD 192m/EUR 177m) in 2019 from CHF 326.8 million in 2018 for a 42% year-on-year drop. The decrease is 32% when the result is adjusted for divestments.

As of end-2019, orders on hand were down to CHF 105 million from CHF 200 million a year earlier. The comparable figure for 2018 excludes orders transferred with the sale of the wafering business, the company noted. The book-to-bill ratio was 0.72 compared to 0.59 in 2018.

Net sales are “broadly in line with analyst consensus” at about CHF 262 million compared to CHF 407 million in the prior year. The figure attributed to continuing operations, adjusted for currency effects, was down 27% on the year.

The company said it continues to consider all strategic, commercial and capital market options with financial advice from Credit Suisse. Furthermore, it noted it is holding talks with its largest investor, Sentis Capital PCC, in an attempt to create significant long-term shareholder value for all stakeholders.

Meyer Burger will publish its annual report for 2019 on March 12, 2020.

(CHF 1.0 = USD 1.021/EUR 0.941)

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