Meyer Burger Technology : Corporate Presentation Sept 2020 EN
09/21/2020 | 03:55am EST
EVOLUTION INTO A SOLAR CELL AND MODULE MANUFACTURER
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL
This document is not intended to constitute an offer or solicitation to purchase or invest in any securities of Meyer Burger Technology AG (the "Company"). In particular, this document is neither (i) a prospectus as such term is understood pursuant to the Swiss Financial Services Act ("FinSA") nor (ii) an issuance prospectus pursuant to article 652a of the Swiss Code of Obligations in its version as it was effective immediately prior to the entering into force of the FinSA (the "CO") or a listing prospectus within the meaning of article 27 et seq. of the listing rules of SIX Exchange Regulation of November 8, 2019, in effect since January 1, 2020 (the "Listing Rules") or of the listing rules of any other stock exchange or regulated trading venue in Switzerland, in each case in conjunction with article 109 of the Swiss Financial Services Ordinance ("FinSO"). In connection with the rights offering mentioned herein, the Company intends to prepare an issuance and listing prospectus pursuant to article 652a of the CO and article 27 et seq. of the Listing Rules, in each case in conjunction with article 109 of the FinSO. Investors are advised to consult their bank or financial adviser before making any investment decision.
This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan.
This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities of Meyer Burger Technology AG to which these materials relate have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in or into the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
This document is only addressed to and directed at persons in member states of the European Economic Area ("EEA") who are qualified investors within the meaning of article 2(1)(e) of the Regulation (EU) 2017/1129 of the European Parliament and of the Council of the European Union of 14 June 2017 ("Qualified Investors"). In addition, in the United Kingdom, this document is addressed to and directed only at, and should only be relied upon by, persons who are qualified investors as defined under section 86(7) of the Financial Services and Markets Act 2000 and who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), are persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order or are persons to whom it may otherwise be lawful to communicate it to (all such persons being referred to as "Relevant Persons"). No other person should act or rely on this document and persons distributing this document must satisfy themselves that it is lawful. If you have received this document and you are not a Relevant Person, you must return this document immediately to the Company and not copy, reproduce or otherwise disclose it (in whole or any part). Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.
This document may contain certain forward-looking statements relating to the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update any such forward-looking statements.
There will not be a public offering of securities in the United States, the United Kingdom or in any other jurisdiction other than Switzerland.
LCOE considerations for residential and small commercial
MEYER BURGER PURSUES VALUE-ORIENTED SEGMENT STRATEGY TO GAIN MARKET SHARE
Annual PV market size in target markets1 [GWp]
2021 2022 2023 2024 2025 2026 2027
Market share in target markets [%]
Source: IHS Markit, IEA, SolarPower Europe, JPEA, SEIA, AU CER
1) Europe, U.S., Australia, Japan
Rooftop: Meyer Burger focuses on the high- margin premium segment
Utility-scale:Market share will be gradually increased as soon as first pilot projects have proven the "bankability" and the higher energy yield per area in practice
As part of the preparations for the business model transformation, Meyer Burger has already sounded the product interest of potential European and U.S. customers and has received written letters of intent (LOIs) to purchase a total of over 2 GW cells and modules per year
Expected revenues with annual capacity of 1.4 GW of cell and 0.8 GW of module production by raising a total of around CHF 180 million of debt in 2021/22
CAPEX (for equal cell and module capacity, in aggregate):
Equipment sourced from Meyer Burger EUR 70-90m/GW for initial investment; reducing to EUR 55-65m/GW from 2023 on (figures at arm's length pricing, including margin for Meyer Burger)
Third-partyequipment EUR 45-55m/GW
Building and facility EUR 70-90m/GW; for the first factory build phase of 0.8 GW module and 1.4 GW cell capacity, savings of EUR 22-28m can be expected due to existing buildings
Ratio of CAPEX for cell to module capacity c. 80% : 20%
In addition, a further CHF 260m - 340m of financing can be raised to implement phase II of our new business plan - additional 1.4 GW installed cell and module capacity - in the base case, the required financing for phase II is to be raised in 2023, but potentially to be accelerated depending on developments over the next 18 months
Long-term goals (> 5 years horizon) - Meyer Burger Group Consolidated Financials
Meyer Burger Technology AG published this content on 21 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2020 07:54:10 UTC