• Focus on Heterojunction (HJT) und SmartWire Connection Technology
• Sale of wafering business
• Strategic partnership with Oxford PV for the development of new technologies
• Strategic partnership with REC
• Order intake on comparable basis -0.6%
• Net sales on comparable basis -36.8%
• EBITDA of CHF -13.2 million
• EBIT of -21.1 million
• Group result CHF +1.8 million
Meyer Burger Technology AG (SIX Swiss Exchange: MBTN) reports business performance in the first half year 2019 below expectation. The solar sector was marked by weak demand in China, the largest end customer market, during the first half of 2019. A global surplus in production capacity for multicrystalline wafers, cells and modules was accompanied by supply bottlenecks for high-efficiency mono-products. Although investments in standard PV increased because of declining prices for PERC equipment, cell and module manufacturers often postponed major investment decisions in new technologies.
The transformation programme launched in October 2018 is on track to achieve its key objectives and is constantly being adapted to market dynamics. Thanks to the sale of non-core businesses and substantial cost reductions in continuing operations, the break-even level is falling steadily. Hans Brändle, CEO of Meyer Burger, commented: »Against the backdrop of this slump in the market, we focused on implementing our strategic priorities: further developing our leading production solutions for heterojunction (HJT) and SmartWire Connection Technology (SWCT™). The first manufacturing line will begin series production soon. We believe the major market interest in our technology will translate into real orders. However, the significant decline and unattractive margins in standard PV business have prompted us to review the originally planned relocation of some of our production to China and to adapt our sales focus. We intend to concentrate our future PV business activities mainly at our largest location, Hohenstein-Ernstthal (Germany).»
