Meyer Burger cuts production targets for 2022, 2023

• The Swiss solar module producer Meyer Burger Technology AG (SWX: MBTN) has decreased its production prepare for this year as well as beside reflect a delayed ramp-up of the production capacity and also supply chain restrictions.

The manufacturing volume in 2022 is currently seen in the range of 320 MW to 370 MW, down from 500 MW predicted previously, Meyer Burger claimed on Tuesday.

The Swiss business created 108 MW of modules in the very first six months of the year, with an added 210 MW-- 260 MW expected in the 2nd half.

The production target for 2023 was cut to 1 GW - 1.2 GW, down from 1.35 GW formerly. The ramp-up of the initial line of 400 MW small yearly capacity is full and also the addition of the remaining capacity of the intended 1.4 GW is set to begin in September.

The revised projections are an outcome of expected reduced throughput and also delayed ramp-up of the manufacturing capacities which is brought on by the postponed delivery of components required for the added capacities.

The maker kept in mind that it has effectively passed on increased product prices to its customers as well as despite higher sales prices, its solar modules appreciate strong demand in Europe and the US.

In April, Meyer Burger stated it would expand the production capacity of its solar module manufacturing facility in Freiberg, Germany, to 1.4 GW in 2023 rather than 1 GW as initially prepared, focusing its development efforts on Germany as opposed to the United States as a response to the strained logistics as well as supply chain situation brought on by the war in Ukraine.

An EBITDA breakeven result on a run-rate basis is expected to be gotten to around the end of 2022.