- Incoming orders +20.4% to CHF 267.8 million
- Net sales +75.0% to CHF 217.8 million
- Turnaround with positive EBITDA of CHF 6.2 million
- Cash flow from operating activities of CHF 15.4 million
- Long-term growth opportunities remain positive
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) achieved substantial improvements in its financial results during the first half of 2016. Incoming orders increased by 20.4% to CHF 267.8 million (H1 2015 CHF 222.6 million). Net sales rose by 75.0% to CHF 217.8 million (H1 2015 CHF 124.4 million). As a result of the higher net sales and lower operating expenses, the company achieved a turnaround at the EBITDA level with a profit of CHF 6.2 million (H1 2015 CHF -32.7 million). Cash flow from operating activities also improved substantially and amounted to a positive cash flow of CHF 15.4 million (H1 2015 CHF -28.0 million).
With the strong incoming orders, an order backlog of CHF 307.4 million and the improvements in the results for the first half of 2016, Meyer Burger is on track, to reach and actually exceed its targets of solid growth in net sales and to achieve break-even at the EBITDA level for fiscal year 2016.
Details on the half-year results 2016
Incoming orders, Order backlog
The volume in new orders rose compared to the previous year period by 20% to CHF 267.8 million (H1 2015 CHF 222.6 million). This substantial increase in incoming orders is a continuation of the trend that has already become apparent during fiscal year 2015 and reflects the high demand of wafer and solar cell manufacturers and their need to either renew existing production lines through upgrades or to assemble entirely new production capacities.
