July 23 (Solar) – Swiss solar equipment maker Meyer Burger Technology AG (SWX:MBTN) expects to turn to profit in the first half of 2018 from a loss a year earlier, but said that total incoming orders more than halved during the six-month period.
Based on preliminary financial information, the company anticipates net earnings of between CHF 7 million (USD 7.1m/EUR 6m) and CHF 8 million for January-June 2018 versus a loss of CHF 17 million a year back. Net sales are seen to rise by more than 9% to CHF 232 million, with earnings before interest, tax, depreciation and amortisation (EBITDA) jumping to CHF 28 million from CHF 6.9 million.
Meyer Burger though noted that the trade crisis in the photovoltaic (PV) sector between the US and China, and China’s recent announcement regarding subsidy cuts have affected incoming orders, which fell to CHF 138 million from CHF 308.5 million. Nevertheless, the company believes that the long-term growth scenario for the PV industry remains intact.
Meyer Burger will publish its half-year report on August 16.
(CHF 1.0 = USD 1.009/EUR 0.861)