Meyer Burger Releases 2024 Half-Year Report with Strategic Shift to the U.S.

Meyer Burger Technology AG announced its half-year results for 2024, demonstrating a strategic relocation from Germany to the U.S. The company reported sales of CHF 48.7 million, almost half of the previous year's CHF 96.9 million, alongside an operating loss at EBIT level of CHF 321.7 million. Solar module production in Goodyear, Arizona is ramping up, indicating a strategic focus on the U.S. market.

The closure of their Freiberg, Germany site contributed to reduced production. However, the relocation escalated operating costs to CHF 40.6 million, impacting overall financial results. Meanwhile, the company is in advanced talks to restructure convertible bonds and secure new financing to bridge funding gaps.

Meyer Burger aims to enhance production capacity in Goodyear to 1.4 GW, aligning with long-term agreements to boost sales. Despite financial hurdles, they project annual sales of CHF 350-400 million and EBITDA of CHF 70 million by 2026.