Meyer Burger posts US$330 million net loss for FY2023

Facebook
Twitter
LinkedIn
Reddit
Email
meyer burger
Meyer Burger is optimistic about its business and production plan in the US. Image: Meyer Burger

PV manufacturer Meyer Burger has posted financial results for 2023, with net loss increasing by 318% to CHF292 million (US$330.6 million).

Net sales in 2023 dropped to CHF135 million, down from CHF147.2 million in 2022. The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) also increased significantly from CHF34.6 million in 2022 to CHF163.6 million.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“As the year progressed, it became clear that dumping prices from Chinese suppliers in Europe, coupled with a sharp rise in Chinese production overcapacity and a lack of market protection, led to unprecedented distortions in the European solar market, which had a serious impact on Meyer Burger’s earnings,” said Franz Richter, chairman of Meyer Burger, and Gunter Erfurt, CEO of Meyer Burger.

Meyer Burger said its module manufacturing capacity was 1.4GW as of the end of 2023, but it only produced 650MW of modules as “market distortions in the European market did not allow for production at full capacity”. Therefore, module inventories increased to 365MW.

Looking ahead, the company said it “welcomes the recent decision on resilience measures in Italy”. Regarding its inventory, Meyer Burger expects to benefit financially from further potential resilience regulation in Europe during the implementation phase of the Net Zero Industry Act (NZIA).

Production in the US

Meyer Burger announced its plan to close its module assembly plant in Germany and focus on its footprint in the US in January. At that time, it cited a lack of sufficient measures to create a level playing field in Europe in terms of a resilience-reward scheme as the reason for the closure.

The company said the proceeds from potential debt financing sources, together with the proceeds from the capital increase, will enable it to start module production in a 2GW plant in Goodyear in the US state of Arizona by the end of the second quarter of 2024. The 2GW cell production plant in Colorado Springs, Colorado, is also expected to ramp up by the end of 2024.

Speaking of the US market, Richter and Erfurt said the potential in the US is “considerable” thanks to existing offtake agreements.

“Assuming that cell and module production at the US sites can be ramped up as planned, the group expects to generate an annual EBITDA of around CHF250 million per year in the medium term from its business in the US,” they said.

17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.
7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

Read Next

June 9, 2025
Solar manufacturer Qcells has launched a recycling arm, called EcoRecycle, and a recycling plant in the US state of Georgia.
Premium
June 9, 2025
N-type polysilicon prices have dropped to RMB34,000/ton as the project installation rush ends, putting cost pressure on the industrial chain.
June 9, 2025
Saatvik Solar, a unit of Saatvik Green Energy Limited (SGEL), is building a 4.8GW solar cell and 4GW module manufacturing facility in Ganjam district of Odisha.
June 9, 2025
Growing political headwinds threaten to dent US solar manufacturing and project deployment, despite a strong start to 2025.
June 9, 2025
US residential solar installer Sunnova has laid off more than half of its workforce, while a subsidiary from Delaware filed for Chapter 11 bankruptcy.
June 6, 2025
rPlus Energies has secured more than US$500 million for an 800MW solar-plus-storage project in Emery County, Utah, US.  

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece