Regarding the announced North American framework contract for the Heterojunction (HJT) core equipment, the closing is not yet finalized.
Net sales reached approximately CHF 262 million (2018: CHF 407.0 million), broadly in line with analyst consensus. Adjusted for divestments and currency effects, the organic decline in sales for the continuing operations was -27%. Total cash as of 31 December 2019 was CHF 62 million, thereof CHF 26 million with limited availability.
Meyer Burger announced on 15 August 2019 that it entered into a memorandum of understanding (MoU) for a strategic collaboration with REC Solar Pte. Ltd (REC). The negotiations with REC are progressing towards a close strategic cooperation. This partnership is expected to allow both parties to benefit from the commercial value of its disruptive high-efficiency technology as well as to protect its intellectual property in the coming years, thereby reducing the risk of commoditization.
As announced earlier in 2019, the Board of Directors continues to evaluate all strategic, commercial and capital market options for Meyer Burger and has hired Credit Suisse as its financial advisor.
Meyer Burger has entered into discussions with its largest shareholder, Sentis Capital PCC, with the goal of creating significant long-term shareholder value for all stakeholders.
Further details on the financial statements for 2019 as well as the annual report 2019 will be published on 12 March 2020.
Meyer Burger is a leading technology company with a global presence, specializing in innovative systems and production equipment for the photovoltaic (solar) industriy. As an internationally renowned premium brand, Meyer Burger offers its customers in the PV industry dependable precision products and innovative solutions for the manufacture of high-efficiency solar cells and solar modules.
The comprehensive product range is complemented by a worldwide service network with spare and wearing parts, consumables, process know-how, maintenance and after-sales service, training courses and additional services. Meyer Burger is represented in the respective key markets in Europe and Asia and has subsidiaries and its own service centers in China, Germany Japan, Korea, Malaysia, Switzerland, Singapore, Taiwan and the USA. The registered shares in Meyer Burger Technology AG are listed on the SIX Swiss Exchange (ticker: MBTN).
Meyer Burger Technology AG
Schorenstrasse 39
CH3645 Gwatt (Thun)
Telefon: +41 (33) 2212800
Telefax: +41 (33) 2212808
http://www.meyerburger.com
Head of Corporate Communications
Telefon: +41 (33) 22128-34
E-Mail: nicole.borel@meyerburger.com
Gregor Communications GmbH
Telefon: +41 (33) 22124-02
E-Mail: jan.gregor@meyerburger.com
