Meyer Burger Group has posted recorded net sales of CHF 826.0 million, up 96%, compared to CHF 420.9 million in 2009. Significant capacity expansion plans to meet demand throughout the supply chain were drivers for growth, according to the company. For fiscal year 2011, Meyer Burger guided net sales of approximately CHF 1.2 billion and an EBITDA margin of around 20%.
Significant sales growth came from Asia, up 150% compared to the previous year and was responsible for 76% of net sales. Europe provided 17% of net sales, while customers in the USA accounted for 7% of sales in 2010.
Meyer Burger received new orders in 2010 worth a record CHF 1,329.8 million, up from CHF 193.7 million in 2009. For the first time in the company’s history, new orders and order backlog surpassed the CHF 1 billion mark at CHF 1,048.5 million.
Gross profit more than doubled year-on-year to CHF 408.8 million compared to CHF 170.1 million in 2009. The gross margin for the period rose to 49.5% from 40.4% in 2009.
Higher plant utilization at its manufacturing sites in Thun and Zülpich in Switzerland, supported by general process optimisation, as well as a changed product mix, were said to have contributed to the higher profit margins.
The Group increased its profit to CHF 127.9 million with an EBIT margin of 15.5%, up from 9.8% in 2009. Group earnings amounted to CHF 97.9 million, up from CHF 29.2 million in 2009. Cash and cash equivalents amounted to CHF 393.5 million as of 31 December 2010.
Meyer Burger highlighted that it anticipates net sales of about CHF 1.2 billion and an EBITDA margin of around 20% for 2011.