Meyer Burger Announce Positive Results
Meyer Burger Technology has announced preliminary unaudited results for the first half-year 2018. Net sales for the first half of 2018 are expected to amount to CHF 232 million, representing an increase of over 9% (H1 2017 CHF 212.3 million). In terms of EBITDA, the positive result has more than quadrupled compared to the previous year period and reached about CHF 28 million (H1 2017 CHF 6.9 million).
Meyer Burger expects a profit in a range of CHF 7 - 8 million at the net earnings level. Thus, the company has reached a profitable level again in the first half-year 2018 after a long period of losses (H1 2017 net loss of CHF -17.0 million).
Over the past months, the market for PV equipment suppliers was heavily influenced by the trade crisis between the USA and China which included new import tariffs on PV modules and cells, as well as the Chinese government’s announcement regarding subsidy cuts in the solar industry. Both facts have led to a momentary strong reluctance regarding new investments on behalf of Meyer Burger’s PV customers. Meyer Burger achieved total incoming orders of about CHF 138 million in this difficult market environment (H1 2017 CHF 308.5 million). The company is convinced that the long-term growth scenario for the PV industry remains intact and that its technologically advanced product portfolio and technology leadership position provide a sound basis to capture future growth opportunities.
The half-year report 2018 and further details on the financial statements as well as an expectation regarding the second half-year and full fiscal year 2018 will be published on 16 August 2018.