Meyer Burger’s 2015 net loss grows due to tax expenses

Mar 22, 2016 16:40 CET by Ivan Shumkov

March 22 – Swiss solar machinery company Meyer Burger Technology AG (SWX:MBTN) on Tuesday reported a 2015 net loss of CHF 169 million (USD 174m/EUR 155m), expanding from CHF 134.7 million a year back due to certain tax expenses.

Thanks to lower operating expenses, the company managed to reduce its loss before interest, tax, depreciation and amortisation to CHF 55.9 million from CHF 95.6 million, even though the result was impacted by delayed sales and the negative special effects by the divestment of its Roth & Rau Ortner subsidiaries. Meyer Burger noted that it has laid the basis to reach break-even at the EBITDA level with sales of around CHF 400 million.

The result before interest and tax was a loss of CHF 128.7 million compared to a deficit of CHF 161.8 million in 2014. It was affected by a one-time impairment on technology and production equipment and in intangible assets.

As previously announced, Meyer Burger’s net sales increased by 8.3% at constant exchange rates and 2.4% in CHF to CHF 323.6 million. The volume in new orders jumped by 40.4% at constant exchange rates, or 28.5% in CHF, compared with a year back and reached CHF 418.9 million. The company’s solar orders alone came to CHF 142 million, up from CHF 42 million.

At the year end, order backlog was CHF 257.5 million, up by 35.5%.

(CHF 1.0 = USD 0.917/EUR 0.917)

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