Meyer Burger announces preliminary financial information for the first half-year 2018

 

Press Release

Thun, 19 July 2018

 

 

Meyer Burger announces preliminary financial information for the first half-year 2018

 

 

Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) today 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 environment for PV equipment suppliers was heavily influenced by the intensifying 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.  

 

 

Contacts:

Ingrid Carstensen

Head of Corporate Communications

Phone: +41 (0)33 221 28 34

ingrid.carstensen@meyerburger.com

 

Stefan Diepenbrock

Corporate Communications

Phone: +41 (0)33 221 27 85

stefan.diepenbrock@meyerburger.com

 

 

 

THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR, EXCHANGE OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF MEYER BURGER TECHNOLOGY LTD HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS.

 

This press release may contain “forward-looking statements”, such as guidance, expectations, plans, intentions, or strategies regarding the future. These forward-looking statements are subject to risks and uncertainties. The reader is cautioned that actual future results may differ from those expressed in or implied by the statements, which constitute projections of possible developments. All forward-looking statements included in this press release are based on data available to Meyer Burger Technology Ltd as of the date that this press release is published. The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.