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Meyer Burger Announces Preliminary Financial Information for Fiscal Year 2017

Total incoming orders reached $560 million, the highest in six years and an increase of 23% compared to 2016.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Meyer Burger Technology Ltd announced preliminary unaudited results for fiscal year 2017. Total incoming orders reached about CHF 560 million ($560 million), representing by far the highest level in incoming orders for the past six years and an increase of 23% compared to the previous year (2016: CHF 455.6 million). The order backlog was at about CHF 343 million as of Dec. 31, 2017, which is an increase of 40% compared to the previous year and provides the company with a solid starting position for the new fiscal year 2018.
 
Net sales for 2017 amounted to about CHF 473 million, up 4% compared to fiscal year 2016, thereby exceeding Meyer Burger’s previous guidance of CHF 440-460 million. At this point in time, Meyer Burger maintains its previous EBITDA guidance at CHF 5-15 million (2016: CHF 10.5 million). A slight reduction of the net loss is also expected for fiscal year 2017 (2016: CHF -97.1 million).
 

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