Meyer Burger Technology Ltd

Latest Results (16.05.2024):

Annual Revenue

In the fiscal year 2023, Meyer Burger Technology Ltd reported a total revenue of CHF 135.0 million. This figure represents a decrease from the previous year, primarily due to a significant drop in sales in the second half of the year, which fell to CHF 38.1 million from CHF 96.9 million in the first half, reflecting challenging market conditions and competitive pressures.

EBITDA and EBIT

Meyer Burger Technology Ltd experienced a challenging financial year in 2023, with a negative EBITDA of CHF 163.6 million. The negative EBIT was even more pronounced, totaling CHF -250.2 million. These figures were heavily impacted by unscheduled depreciation and impairment losses on production materials and finished products.

Net Loss

The fiscal year 2023 was particularly tough for Meyer Burger Technology Ltd, culminating in a net loss of CHF 291.9 million. This loss was exacerbated by a combination of negative financial results and significant one-off effects, including additional inventory write-downs and unscheduled asset depreciation.

Strategic Shift to the US Market

In response to adverse market conditions in Europe, Meyer Burger Technology Ltd announced a strategic shift towards the US market in the summer of 2023. The company plans to enhance its presence in the United States by establishing a new solar cell factory in Colorado Springs, Colorado, complementing its existing module production facility in Goodyear, Arizona.

Operational Adjustments and Outlook

Due to the ongoing challenges in the European market, Meyer Burger Technology Ltd decided in February 2024 to concentrate on production and profitable growth in the USA. This strategic decision includes preparations for the closure of its Freiberg site in Germany by the end of April 2024, aiming to achieve significant cost savings and optimize its operational efficiency.