Meyer Burger sees heftly loss for 2013

Dec 19, 2013 - Swiss solar equipment maker Meyer Burger (VTX:MBTN) said today it expects a loss of between CHF 170 million (EUR 139m/USD 190m) and CHF 190 million for 2013 due to a sharp revenue drop.

Revenue is seen down by 69% year-on-year to CHF 200 million.

The company expects its order intake for the full year to grow to between CHF 240 million and CHF 260 million, compared with CHF 223.4 million in the prior year. Order intake in the second half of 2013 almost doubled as compared with the first six months of the year, the company said.

Meyer Burger projects a reduction in its operating costs by between CHF 80 million and CHF 90 million. Loss before interest, taxes, depreciation, and amortization is seen in the range of CHF 115 million to CHF 135 million compared with a loss of CHF 32.9 million a year before.

(CHF 1.0 = EUR 0.817/ USD 1.117)

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