Meyer Burger expects increasing production volume of solar modules in the second half of the year

The ailing Swiss solar manufacturer Meyer Burger expects an increase in the production volume of solar modules in the second half of the year. The volume will increase significantly with the commissioning of the second production line in Goodyear (Arizona, USA) planned for the end of the year, the company announced. This will have a positive impact on sales in the second half of the year due to long-term purchase agreements. In addition, a consultant has been commissioned to prepare a restructuring report.

In the first six months of 2024, Meyer Burger generated sales of 48.7 million Swiss francs, compared to 96.9 million in the same period last year. From the company's perspective, the slump in sales primarily reflects the strategic relocation of the business from Germany to the USA. The closure of module production in Freiberg in the first quarter of 2024 reduced the volume of solar modules produced to around 105 megawatts, it said.

The company's cash and cash equivalents amounted to 158.6 million Swiss francs at the end of June, according to the statement. On September 30, they amounted to 83.4 million Swiss francs.

Commitment to Thalheim and Hohenstein-Ernstthal

In June, Meyer Burger launched the first production line for solar modules in Arizona. Preparations for the commissioning of the second line are in full swing, it said. The solar cells required for module production are produced in Thalheim (Anhalt-Bitterfeld district) and will continue to be supplied from there.

The company reaffirmed its commitment to its sites in Germany when publishing its half-year figures. Thalheim will remain "central to the supply of solar cells" and the technology site in Hohenstein-Ernstthal (Zwickau district) will also be "retained for the future development of the technology". However, the streamlining of the Group structure will lead to a reduction in the number of employees worldwide from around 1,050 to an expected 850 by the end of 2025. The disproportionate reduction in Europe will be offset by an increase in the USA.

It is not yet known where exactly which jobs will be lost. According to Franz Richter, Chairman of the Board of Directors, redundancies at German sites are also not ruled out. The company has a technology and product center in Hohenstein-Ernstthal, where mass production systems are developed, for example. According to the company, these are used in the production facility in Thalheim.

Consultant to help with restructuring

A few months ago, the closure of solar cell production in Thalheim was still under discussion. However, the company assessed the planned construction of an alternative production facility in the USA as currently not financially viable and stopped the project, which is why Thalheim is still needed. However, the events in the USA continue to have an impact. With the decision to stop the project in Colorado Springs and not to build another cell production facility, significant initial investments could no longer be used, it was now said.

At the same time, further investments are required for the completion of the module plant in Goodyear. "In combination, this has led to a financing gap in the high double-digit millions." The Board of Directors has commissioned an independent external restructuring consultant to draw up a restructuring report. The company aims to carry out the restructuring in a timely manner "to fully prepare for stable and profitable business operations in 2026".