Solar company Meyer Burger stops trading its own shares

The shares of the solar company Meyer Burger cannot currently be traded on the Swiss Stock Exchange SIX. As the stock exchange announced on Friday, trading was suspended in the middle of the day at the company’s request.

The company headquartered in Thun doesn’t reveal much about the reason for this unusual step: Desri, the photovoltaic company’s largest customer, has dropped out.

“The company currently believes that, regardless of the validity of such termination, its financial restructuring efforts, which are well advanced, are likely to be adversely affected,” it said in a statement. More information will follow.

Financial restructuring? Exactly. In the first two quarters of 2024, Meyer Burger already recorded a net loss of around 317 million francs, with sales declining to just under 49 million francs. The share price has fallen by nine percent since the beginning of 2024.

Accordingly, restructuring measures were initiated, including the closure of the factory in Freiberg, Saxony, which resulted in the loss of around 500 jobs. It is also known that the company urgently needs a financial injection of around 100 million francs.

It is quite possible that the company will have to pull the plug in the next few hours – or allow itself to be taken over. Around 1,050 jobs would be affected.

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