Meyer Burger sees indications of a recovery in the photovoltaic market and has successfully concluded strategic contracts for advanced diamond wire slicing technologies and industry leading module production and testing technologies with new customers in the Asian market. The orders have a combined value of over CHF 22 million.
First major contractual volume since beginning of crisis in solar market
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announces the successful signing of a strategically important contract with a leading solar wafer manufacturer in Asia for the delivery of water-based diamond wire saws. As a major supplier of mono-crystalline silicon solar wafers for high performance cells, the customer is relying on Meyer Burger’s advanced diamond wire technology for the manufacture of wafers to reduce production process costs while opening up new perspectives for high efficiency cells. The manufacturing equipment is scheduled to be delivered by the end of September 2013.
Meyer Burger has also successfully concluded a contract with an important module manufacturer in Asia for the delivery of module equipment for the production of high quality, innovative solar modules. The state-of-the-art module technologies include lamination, cell connection, handling and performance testing equipment as well as comprehensive customer training and support services. Production on customer site is scheduled to begin at the end of August 2013.
The signing of these contracts confirms Meyer Burger’s view that the PV market is showing signs of recovery. It is the first major contractual volume the company has signed since the crisis in the solar market began in the second half of 2011 and it represents an important success for diamond wire technology. With its technologies and its strategic focus along the entire photovoltaic value chain, Meyer Burger is ideally positioned to meet the future requirements of PV manufacturing process. The company expects an increase in orders for production equipment during the second half of 2013.
Key figures for the first half year results 2013
During the first half year 2013, the situation in the solar industry market remained difficult and as expected the results for the Meyer Burger Group in this reporting period were impacted by low customer demand for production systems and equipment. According to preliminary results, net sales in the first half year 2013 were about CHF 90.4 million. At EBITDA level the company recorded a loss of CHF 58.6 million; at EBIT level a loss of 98.8 million. At net result level, Meyer Burger recorded a loss of CHF 81.9 million. During the first half year 2013, the optimisation and consolidation programmes have been fully implemented as planned. In comparison to the previous reporting period, operating expenses were reduced by CHF 54.7 million (personnel expenses by CHF 30.1 million, other operating expenses by CHF 24.6 million).
Further information as well as the complete half-year report 2013 will be published on 15 August 2013.
