Continued acquisitions and a broadening of its equipment product offerings didn’t result in revenue growth for Meyer Berger in 2009. Financial results for 2009 saw the company post net sales of CHF420.9 million, a 6% decline compared to sales of CHF 448.4 million in 2008. Meyer Burger noted that 34% of these sales were generated from customers in Europe and 60% from Asia-based customers in 2009.
However, Meyer Berger cited a recovery in new orders that started late 2009 and the next wave of PV manufacturing capacity expansions, especially in Asia is underway. Its equipment order backlog stands at over CHF900 million and expects to achieve ‘solid results’ in 2010, the company said.
“Our market position is unique in the industry”, says Peter Pauli, CEO of Meyer Burger Technology Ltd. “Our technologies and our comprehensively aligned systems enable processes along the value chain to be optimised, efficiencies to be increased and, as a result, the costs of producing solar modules and, ultimately, solar electricity to be reduced. Our company makes a key contribution to the goal of reaching grid parity for solar power.”
The gross margin came to 40.4%, compared with 41.0% for the previous year. The minimal change in the margin is due to a slightly different product mix, the company said.
Meyer Burger recorded new orders worth CHF193.7 million during
2009. As of 31 December 2009, the order backlog amounted to CHF 516.4 million. However, recent order intake has grown rapidly, now past CHF900 million as of March, 2010.