Significant losses for solar manufacturer Meyer Burger

The solar manufacturer Meyer Burger posted a significant loss last year. In fiscal year 2023, the bottom line was a loss of 291.9 million Swiss francs (around 303 million euros), Meyer Burger announced on Thursday. Strong price pressure in the European solar market prevented the company from achieving the targeted sales volumes. Almost half of the loss was due to one-off effects, it said. The company put its turnover for 2023 at 135 million Swiss francs - slightly less than in the previous year (147.2 million Swiss francs).

"We have had a very challenging year due to the market distortions in Europe," said CEO Gunter Erfurt. In Germany, there is a lack of recognition that solar is a critical infrastructure. At European level, on the other hand, positive developments can be seen. "As a company, however, we cannot rely on flowery statements, but are confronted with the harsh reality."

Meyer Burger, headquartered in Thun, Switzerland, announced at the beginning of the year that it would be closing its plant in Freiberg, Saxony, and focusing on the US market. Around 500 people work in Freiberg.

The production of solar modules in the region is no longer profitable, according to Meyer Burger. The company has therefore called for higher subsidies for solar systems manufactured in Europe and argues that solar modules from China, for example, are massively subsidized by the state. So far, however, the German government has not been able to agree on a so-called resilience bonus.

Unless reliable commitments are made by politicians, the company is continuing to work on closing the Freiberg site and relocating to America, said Erfurt. Production in Freiberg was "suspended for the time being" as of mid-March.

According to the company, the cell production site in Bitterfeld-Wolfen (Saxony-Anhalt) and the research site in Hohenstein-Ernstthal in the Saxon district of Zwickau are currently not affected by possible closures. The sites are needed for the ramp-up of module production in the USA, among other things.