Meyer Burger loses important customer - sales collapse

The ailing solar manufacturer Meyer Burger is losing an important customer. The company announced that its largest customer Desri has terminated the framework agreement with immediate effect. The situation is currently being analyzed. It can be assumed that the restructuring efforts will probably be impaired. "Should the financial restructuring fail, the company may no longer be in a position to continue as a going concern."

Meyer Burger did not initially provide any details. The company will provide further information in due course, it said.

Revenue has collapsed

Revenue at Meyer Burger has collapsed. In the first six months of 2024, the Swiss company generated turnover of 48.7 million Swiss francs, compared to 96.9 million in the same period of the previous year. Nevertheless, the company recently committed to its sites in Germany. Thalheim (district of Anhalt-Bitterfeld) will remain "central to the supply of solar cells" and the technology site in Hohenstein-Ernstthal (district of Zwickau) should also be "retained for the future development of the technology", it said.

The company has set its sights on reducing its global workforce from around 1,050 to an expected 850 by the end of 2025. The disproportionate reduction in Europe should be offset by an increase in the USA. The company has a technology and product center in Hohenstein-Ernstthal, where mass production systems are developed. According to the company, these are used in the production facility in Thalheim.

The Board of Directors appointed an independent external restructuring consultant to draw up a restructuring report. The company is aiming to carry out the restructuring in a timely manner "in order to fully prepare for stable and profitable business operations in 2026", according to the latest statement.