Meyer Burger is still in the red
Although the solar company’s sales increased somewhat, it remained in the red last year.
Meyer Burger does not give a concrete outlook for the current year.
Photo: ZVG/Meyer Burger
Solar company Meyer Burger increased sales last year. However, the bottom line was that the numbers were deep in the red again due to the constant shift.
According to Thursday’s statement, the company had sales of 147.2 million Swiss francs in 2022, up from just under 40 million Swiss francs a year earlier. But you need to know that the company is undergoing profound change.
The former manufacturer of solar cell production machinery now produces the same solar modules. Full-scale production began last year. The premium Meyer Burger brand has been launched in 15 countries since it went on sale and attractive selling prices have been achieved, according to the release.
As it was already known, 2022 units with a total output of 321.1 MW have left the Meyer Burger plant in East Germany. But it is known that this scale of production is only the beginning. It is planned to increase the production capacity of the factories to 1.4 gigawatts by the end of 2023, and then to 3 gigawatts by the end of 2024.
In particular, production is planned in the USA, which should again increase volumes. Production targets for the US plant have now been increased (to 2 GW). This was also possible thanks to the newly obtained long-term purchase agreements.
400 new employees
The earnings numbers show how far the company is still in the transition phase. The operating result (Ebitda) was again in the red at -34.6M. Thanks to higher sales as a result of the start of production, there was at least an improvement over the previous year (-72.5 million).
However, about 400 employees were set to meet more production targets – which initially affected the bill. The net result was a deficit of 69.9 million after 100.5 million, while liquid funds at the end of the year amounted to 293.2 million. This amount is available to finance further investments. As is known, last year the company increased its capital in the amount of 250 million.
The company does not provide a concrete outlook for the current year. All told, they have applied for EU funding in the triple-digit range in order to further solar cell development and module production capabilities on a gigawatt scale in several European countries. A decision is expected, according to information, next summer.
You can find the full history of Meyer Burger here. »
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