Meyer Burger achieves highest order intake in six years

Preliminary, unaudited financial figures for the full year 2017 show that Meyer Burger Technology AG increased its net sales by 4% over 2016, hitting CHF 473 million (€403 million). These figures exceed the previous company guidance of CHF 440-460 million.

Meyer Burger is maintaining its previous EBITDA guidance of CHF 5-15 million, having posted CHF 10.5 million in 2016. Overall, the net result remains negative, though a slight reduction to the net loss is expected year on year. In 2016, Meyer Burger posted a net loss of CHF 97.1 million.

The company had previously reported that ‘various non-recurring non-cash extraordinary expenses’ would impact its pre-tax earnings in 2017. This includes expenses related to the discontinued operations of Diamond Materials Tech, and the announcement of the closure of manufacturing activities at its headquarters in Thun, Switzerland. Here, Meyer Burger says it had already made adjustments for inventories and buildings in Thun, and the amortization of other intangible assets.

Order intake, however, painted a more pleasing picture – at CHF 560 million, this was the highest level achieved by Meyer Burger in six years, and a 23% improvement year on year. Order backlog at the end of 2017 stood at around CHF 343 million, a 40% increase.

In November 2017, the company announced that it would cease all production activities at its headquarters in Thun, as part of a new cost efficiency program. In December, the equipment supplier further announced the plans to cut at least 100 jobs, with another 60 employees set to be redeployed.

Meyer Burger will release its full financial figures and reporting for 2017 on March 22.