The ailing Swiss solar manufacturer Meyer Burger expects an increase in the production volume of solar modules in the second half of the year. The volume will increase significantly with the commissioning of the second production line in Goodyear (Arizona, USA) planned for the end of the year, the company announced. This will have a positive impact on sales in the second half of the year due to long-term purchase agreements. In addition, a consultant has been commissioned to prepare a restructuring report.
In the first six months of 2024, Meyer Burger generated sales of 48.7 million Swiss francs, compared to 96.9 million in the same period last year. From the company's perspective, the slump in sales primarily reflects the strategic relocation of the business from Germany to the USA. The closure of module production in Freiberg in the first quarter of 2024 reduced the volume of solar modules produced to around 105 megawatts, it said.
The company's cash and cash equivalents amounted to 158.6 million Swiss francs at the end of June, according to the statement. On September 30, they amounted to 83.4 million Swiss francs.
