Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) today announced preliminary unaudited results for the first half of 2019. Margins remained under pressure due to the drop in prices for standard PV equipment, especially in the PERC business. Meyer Burger is in advanced discussions with potential customers for its Heterojunction core equipment and SmartWire Cell Connection technology, however new order completions have been delayed. Overall, business activity fell short of expectations. Meyer Burger expects to report for the first half of 2019 orders of approximately CHF 94 million (H1 2018 CHF 137.9 million, adjusted for sale of the wafering business CHF 94.5 million), net sales of approximately CHF 122 million (of which CHF 3 million in wafering equipment; H1 2018 CHF 232.3 million, adjusted for sale of wafering business CHF 200.7 million). Despite a substantial reduction in costs, EBITDA was negative (H1 2019 CHF -14 million; H1 2018 CHF +29.2 million). The total order backlog was at CHF 166 million as of 30 June 2019. Meyer Burger expects a breakeven net result following the extraordinary income of the sale of the wafering business.
Meyer Burger publishes preliminary results for the first half of 2019; Board of Directors announces strategy review
