Meyer Burger announces preliminary financial information for fiscal year 2017
OREANDA-NEWS. Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) today announced preliminary unaudited results for fiscal year 2017: Total incoming orders reached about CHF 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 31 December 2017, which is an increase of 40% compared to the previous year (31.12.2016: CHF 244.5 million) 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 or +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). As previously announced, Meyer Burger will incur several one-off non-cash extraordinary expenses at the Extraordinary result level (line in the income statement above Earnings before taxes), which are mainly in conjunction with the discontinued operations of Diamond Materials Tech (goodwill recycling) and the discontinuation of the manufacturing activities in Thun (e.g. inventory write-offs, impairment on building in Thun, impairments on intangible assets).
Further details on the financial statements for 2017 as well as the annual report 2017 will be published on 22 March 2018.