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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Meyer Burger Technology AG    MBTN   CH0108503795

MEYER BURGER TECHNOLOGY AG

(MBTN)
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Meyer Burger plans to adapt business model and enter strategic collaboration with REC

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08/15/2019 | 12:35am EDT

Meyer Burger plans to adapt business model and enter strategic collaboration with REC

Meyer Burger Technology AG (SIX Swiss Exchange: MBTN) today announced that it has entered into a memorandum of understanding (MoU) for a strategic collaboration with REC Solar Pte. Ltd. (REC). This MoU is in line with the announcement on 22 July 2019 that the Board of Directors plans to explore all strategic options for Meyer Burger's business model with increased focus on shareholder value creation. Based on the ground-breaking module efficiency and value achieved with its Alpha module production, REC plans to increase its 600 MW HJT / SmartWire (SWCT™) manufacturing capacity to multiple GW, using equipment from Meyer Burger and in cooperation with a potential strategic down-stream partner.

In exchange for adequate exclusivity protection for specific HJT and SmartWire Connection technologies, REC is prepared in principal to enter into a profit sharing agreement with Meyer Burger, which will create equitable benefits and significant long-term shareholder value for both parties. This new business model is expected to allow Meyer Burger to both benefit from the commercial value of its disruptive high-efficiency technology as well as protect its intellectual property in the coming years, thereby reducing the risk of commoditization which Meyer Burger has experienced in its main markets in the past.

Hans Brändle, CEO of Meyer Burger, states: "This represents a fundamental change to industrial dynamics, thereby valuing our leading edge technology and our continuous efforts to drive the PV technology roadmap." A definitive agreement on the profit share and reach of exclusivity still has to be agreed between REC and Meyer Burger in the coming months and approved by the respective Boards of Directors. In particular, a longer term exclusivity agreement will have to be compensated by large equipment orders and a commensurate profit share calculated on the Watt peak capacity of Alpha solar module sales by REC.

Contacts:

Ingrid Carstensen

Head of Corporate Communications

Tel: +41 (0)33 221 28 34

ingrid.carstensen@meyerburger.com

Stefan Diepenbrock

Senior Corporate Communications Manager

Tel: +41 (0)33 221 27 85

stefan.diepenbrock@meyerburger.com




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EQS Group Ltd., Switzerland
switzerland.eqs.com


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+41 41 763 00 50
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Financials (CHF)
Sales 2019 269 M
EBIT 2019 -29,3 M
Net income 2019 -7,98 M
Finance 2019 84,6 M
Yield 2019 -
P/E ratio 2019 -38,5x
P/E ratio 2020 -45,7x
EV / Sales2019 0,56x
EV / Sales2020 0,49x
Capitalization 236 M
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 5
Average target price 0,48  CHF
Last Close Price 0,39  CHF
Spread / Highest target 71,3%
Spread / Average Target 23,2%
Spread / Lowest Target 1,19%
EPS Revisions
Managers
NameTitle
Hans Brändle Chief Executive Officer
Alexander Vogel Chairman
Daniel Lippuner Chief Operating Officer
Manfred Häner Chief Financial Officer
Gunter Erfurt Chief Technology Officer
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