Latest news with #MeyerBurgerTechnology
Yahoo
02-06-2025
- Business
- Yahoo
Solar panel maker Meyer Burger's German subsidiaries file for insolvency
Swiss solar panel manufacturer Meyer Burger Technology has announced that its German subsidiaries, Meyer Burger (Industries) and Meyer Burger (Germany), have commenced insolvency proceedings. The move comes amidst unsuccessful restructuring efforts to maintain operations at the facilities located in the cities of Bitterfeld-Wolfen and Hohenstein-Ernstthal. The Bitterfeld-Wolfen facility in Saxony-Anhalt employs 331 people in solar cell production. The Hohenstein-Ernstthal in Saxony employs 289 people in mechanical engineering and technology development. Efforts to keep the German facilities operational will continue as part of the insolvency proceedings, in collaboration with a provisional insolvency administrator to be appointed by the court. This development follows a request by the company, based in Thun, Switzerland, for an extension to present its financial results for 2024, against the backdrop of ongoing financing talks aimed at restructuring. Subsidiaries in Switzerland and the US will be retained. Meyer Burger (Switzerland), with 60 employees, will continue its activities, while Meyer Burger (Americas) will exist as a company although it laid off all 282 employees on 29 May 2025 and halted production at its Goodyear, Arizona facility. Solar module production at the Goodyear facility was halted due to funding issues and raw material shortages. The closure of US production, which had an annual capacity of 1.4GW, casts uncertainty on the future of the site. Meyer Burger is still in discussions with an ad hoc group of bondholders regarding the restructuring. This impacts two convertible bonds issued by MBT Systems, guaranteed by Meyer Burger Technology and due in 2027 and 2029. In 2024, Meyer Burger decided to close its solar module production in Freiberg, Germany, from March 2024 in a bid to avoid more losses in Europe. "Solar panel maker Meyer Burger's German subsidiaries file for insolvency" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
31-05-2025
- Business
- Bloomberg
Meyer Burger to Delay Results as Two Units File for Insolvency
Struggling solar-module manufacturer Meyer Burger Technology AG requested an extension of the deadline to present its 2024 financial results after its German units filed for insolvency proceedings. Efforts to keep the sites open during restructuring negotiations were unsuccessful, the Switzerland-listed company said in a statement on Saturday.
Yahoo
21-04-2025
- Business
- Yahoo
Breakeven Is Near for Meyer Burger Technology AG (VTX:MBTN)
With the business potentially at an important milestone, we thought we'd take a closer look at Meyer Burger Technology AG's () future prospects. Meyer Burger Technology AG, a technology company, produces and sells solar cells and modules. With the latest financial year loss of CHF292m and a trailing-twelve-month loss of CHF544m, the CHF46m market-cap company amplified its loss by moving further away from its breakeven target. The most pressing concern for investors is Meyer Burger Technology's path to profitability – when will it breakeven? We've put together a brief outline of industry analyst expectations for the company, its year of breakeven and its implied growth rate. Meyer Burger Technology is bordering on breakeven, according to the 3 Swiss Semiconductor analysts. They expect the company to post a final loss in 2024, before turning a profit of CHF11m in 2025. The company is therefore projected to breakeven around 12 months from now or less. At what rate will the company have to grow in order to realise the consensus estimates forecasting breakeven in under 12 months? Using a line of best fit, we calculated an average annual growth rate of 97%, which is extremely buoyant. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. Given this is a high-level overview, we won't go into details of Meyer Burger Technology's upcoming projects, but, take into account that typically a high forecast growth rate is not unusual for a company that is currently undergoing an investment period. See our latest analysis for Meyer Burger Technology One thing we would like to bring into light with Meyer Burger Technology is its debt-to-equity ratio of over 2x. Typically, debt shouldn't exceed 40% of your equity, and the company has considerably exceeded this. Note that a higher debt obligation increases the risk around investing in the loss-making company. This article is not intended to be a comprehensive analysis on Meyer Burger Technology, so if you are interested in understanding the company at a deeper level, take a look at Meyer Burger Technology's company page on Simply Wall St. We've also put together a list of essential factors you should further examine: Valuation: What is Meyer Burger Technology worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Meyer Burger Technology is currently mispriced by the market. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Meyer Burger Technology's board and the CEO's background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
