Zurich (awp) – The struggling solar panel manufacturer Meyer Burger almost halved its revenues in the first six months of the year, according to provisional figures released on Friday. The publication of the final half-year results has been postponed until the end of October.
In the first part of 2024, the group based in Gwatt, near Thun, recorded sales of 48.7 million Swiss francs, after 96.9 million garnered a year earlier. Liquidity stood at 158.6 million at the end of June.
Meyer Burger announced on September 18 a vast restructuring with the elimination of around 200 positions by the end of 2025 out of around 1,050 in the company.
The restructuring should allow Meyer Burger to return to profitability. The group will focus on production activities at the sites of Thalheim, in the German municipality of Bitterfeld-Wolfen near Leipzig, for cells, and Goodyear, in the American state of Arizona, for modules, while the technological capabilities of the other factory across the Rhine, in Hohenstein-Ernstthal, will be maintained.
Beyond its refocusing, the group intends to generate additional revenue through the sale of equipment linked to the Colorado Springs solar cell production plant project, at the origin of the reorientation. Meyer Burger was unable to finalize the planned collaboration with an American technology group due to rising costs.
Managing Director Gunter Erfurt has left the company, replaced by Chairman of the Board Franz Richter. CFO Markus Nikles will also leave the firm at the end of September. Ralf Hermkens, in the United States, and Frank Zimmermann, for Europe, will take over responsibility for finance and management control.
To ensure its financing, the company is “evaluating various options”, she added, without further details.
The final results for the 1st semester must be published no later than October 31.
al/rp
