Meyer Burger achieves strong operating results in 2011

The company also reported a solid balance sheet with an EBIT increase of 48% to 278.4 million CHF (US$303.93 million). Meyer Burger Group increased net sales by 59% to 1315 million CHF (US$1435 million) in fiscal year 2011.

Organic growth was 44%, whereas 15% of growth was based on the Roth & Rau

acquisition. The Group posted an increase in EBITDA of 48%. On the levels of EBIT and profit for the year, the results were negatively influenced by special

items with regards to the acquisition of Roth & Rau. Meyer Burger had achieved an EBIT of 116.7 million CHF (US$127.4 million) and profit for the year amounted to 35.8 million CHF (US$39.08 million) from 2010’s 97.9 million CHF (US$106.88 million). The balance sheet structure remains very solid with net liquidity of 250.3 million CHF (US$273.25 million) and an equity ratio of 55.4%.

The company has stated that it remains cautious about 2012, despite the good order backlog. The challenging market situation was cited as a reason. Meyer Burger Group will combine its resources and consolidate sales activites and subsidiaries in key markets globally this year. Synergies, efficiencies and sales activities will be optimised along the photovoltaics value chain as the company announced.