Meyer Burger is on course to become a European leader in a new global era of photovoltaics. Launch of the company's heterojunction cell and SmartWire module manufacturing sites in Germany was completed in a highly ambitious timeframe. Sweeping changes to future international energy supply after the Russian invasion of Ukraine highlights the need for an accelerated expansion of renewable energy in relevant markets for Meyer Burger including strategic independence through local solar cell and module production.Financial results for the transformational year 2021 also reflect operational challenges throughout the year. The balance sheet total increased to CHF 492.7 million, while net sales declined to CHF 39.9 million, resulting in an EBITDA of CHF -72.5 million and an annual result of CHF -100.5 million. The cash position as of year-end was CHF 231.4 million.Expansion to 1.4 gigawatt (GW) cell and module capacity is underway at the Thalheim and Freiberg sites in Germany and in Goodyear, Arizona (USA). In light of strong customer demand and the supportive political environment, Meyer Burger is working on an acceleration of its expansion plans, driven by faster growth in the utility-scale sector. To this end, Meyer Burger is pursuing long-take offtake arrangements including an investment contribution from offtakers. A memorandum of understanding has been signed with a major U.S. utility-scale customer. Meyer Burger Technology AGDynamics Group AGAnne SchneiderAndreas DurischHead Corporate CommunicationsSenior PartnerM. +49 174 349 17 90T. +41 43 268 27 47 M. +41 79 358 87 32anne.schneider@meyerburger.comadu@dynamicsgroup.ch
End of ad hoc announcementLanguage:EnglishCompany:Meyer Burger Technology AGSchorenstrasse 393645 GwattSwitzerlandPhone:+41 033 221 28 00E-mail:mbtinfo@meyerburger.comInternet:www.meyerburger.comISIN:CH0108503795Valor:A0YJZXListed:SIX Swiss ExchangeEQS News ID:1310393
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