Meyer Burger announces preliminary financial information for the first half-year 2016
Fiscal year 2016 is developing positively along expectations for Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN). The company has won important large orders from wafer, cell and module manufacturers during the first half of 2016. As a result of higher revenues and an optimized operating cost base, the company also achieved substantial improvements in terms of profitability. According to preliminary unaudited results, Meyer Burger expects a volume in new orders of over CHF 260 million for the first half of 2016 (H1 2015 CHF 222.6 million).
Consolidated net sales are expected to amount to slightly above CHF 215 million (H1 2015 CHF 124.4 million). The EBITDA will be slightly above breakeven (H1 2015 CHF -32.7 million) for the first six months of 2016. The cash drain was also stopped and with a positive operating cash flow, cash and cash equivalents have increased. As of 30 June 2016, Meyer Burger has cash and cash equivalents in an amount of about CHF 113 million (31 December 2015 CHF 101.5 million).
The half-year report 2016 and further details to the half-year results will be published on17 August 2016.