Meyer Burger announces preliminary financial information for fiscal year 2017
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) today announced preliminary unaudited results for fiscal year 2017: Total incoming orders reached about CHF 560 million, representing by far the highest level in incoming orders for the past six years and an increase of 23% compared to the previous year (2016: CHF 455.6 million). The order backlog was at about CHF 343 million as of 31 December 2017, which is an increase of 40% compared to the previous year (31.12.2016: CHF 244.5 million) and provides the company with a solid starting position for the new fiscal year 2018.
Net sales for 2017 amounted to about CHF 473 million or +4% compared to fiscal year 2016, thereby exceeding Meyer Burger’s previous guidance of CHF 440-460 million. At this point in time, Meyer Burger maintains its previous EBITDA guidance at CHF 5-15 million (2016: CHF 10.5 million). A slight reduction of the net loss is also expected for fiscal year 2017 (2016: CHF -97.1 million). As previously announced, Meyer Burger will incur several one-off non-cash extraordinary expenses at the Extraordinary result level (line in the income statement above Earnings before taxes), which are mainly in conjunction with the discontinued operations of Diamond Materials Tech (goodwill recycling) and the discontinuation of the manufacturing activities in Thun (e.g. inventory write-offs, impairment on building in Thun, impairments on intangible assets).
About Meyer Burger Technology Ltd
www.meyerburger.com
Meyer Burger is a leading global technology company specialising on innovative systems and processes based on semiconductor technologies. The company’s focus is on photovoltaics (solar industry) while its competencies and technologies also cover important areas of the semiconductor and the optoelectronic industries as well as other selected high-end markets based on semiconductor materials. Over the past ten years, Meyer Burger has risen to the forefront of the photovoltaic market and established itself as an international premium brand by offering superior precision products and innovative technologies.
Meyer Burger’s offering in systems, production equipment and services along the photovoltaic value chain includes the manufacturing processes for wafers, solar cells, solar modules and solar systems. Meyer Burger provides substantial added value to its customers and clearly differentiates itself from its competitors by focusing on core technologies of the value chain.
The company’s comprehensive product portfolio is complemented by a worldwide service network with spare parts, consumables, process know-how, customer support, after-sales services, training and other services. Meyer Burger is represented in Europe, Asia and North America in the respective key markets and has subsidiaries and own service centres in China, Germany, India, Japan, Korea, Malaysia, the Netherlands, Switzerland, Singapore, Taiwan and the USA. The company is also working intensively to develop new markets such as South America, Africa and the Arab region. The registered shares of Meyer Burger Technology Ltd are listed on the SIX Swiss Exchange (Ticker: MBTN).
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.
Source: MeyerBurger
