Meyer Burger Achieves Revised 2022 Module Production Guidance

• Meyer Burger met the lower level of its revised 2022 solar module production guidance of at least 320 MW
• 2^nd production line's ramping up is to continue till Q1/2023 to help it produce 2 of 3 product variants
• It continues to expect to produce between 1.0 GW to 1.2 GW modules in 2023 as guided last year

Meyer Burger Technology AG slightly exceeded the lower end of its annual solar module production guidance. It targeted  a minimum of 320 MW in 2022 and reached a total production volume of 321.1 MW, and is now accelerating the ramp up of the 2^nd line expected to continue throughout Q1/2023.

Notably, the Swiss company with production locations in Germany had lowered its annual module production guidance for 2022 to between 320 MW to 370 MW, from 500 MW citing supply chain challenges. For 2023, it has reiterated the annual target of between 1.0 GW to 1.2 GW modules which was lowered in August 2022 from 1.35 GW (see Meyer Burger Lowers Annual Production Forecast).

It has been operating the 2^nd production line on test basis since August 2022 that entered ramp-up since September 2022-end. The company says it can now manufacture 2 of its 3 product variants in parallel to ensure timely availability of products for consumers and installers.

"Achieving the 2022 guidance is an important milestone for Meyer Burger. After we again had to solve major challenges due to disruptions in global supply chains, the ramp-up of the second line is now going twice as fast compared to the first line thanks to the great effort of our team," said Daniel Menzel, COO of Meyer Burger.

The 2^nd line is expected to continue ramping-up throughout 1^st quarter of 2023. Meyer Burger will start ramp-up of the 3^rd line in Thalheim in the city of Bitterfeld-Wolfen, Saxony-Anhalt, and in Freiberg, Saxony in Q2/2023 – and expects a nominal production capacity of around 1.4 GW (see Meyer Burger Raises Capital To Expand Production Capacity).