HIGH-END SOLUTIONS FOR HIGH-TECH INDUSTRIES

Transcription

1 CORPORATE PROFILE HIGH-END SOLUTIONS FOR HIGH-TECH INDUSTRIES ((Dunklere Flächen werden bis auf die Längsstreifen hell gemacht, Querlinien wegretuschiert, so dass der Titel auf ruhigem Hintergrund steht))

2 MEYER BURGER GROUP HIGH-END SOLUTIONS FOR HIGH-TECH INDUSTRIES Meyer Burger Technology Ltd is a leading global technology Group employing more than 1,700 people across three continents. Our innovative systems and production equipment create sustainable added value for our customers in photovoltaics (solar industry), in the semiconductor and optoelectronic industries as well as in other highend markets for semiconductor materials. OUR PASSION EFFICIENT, SUSTAINABLE CLEAN ENERGY We are the leading technology Group for innovative and cost-efficient solutions based on semiconductor technologies and with a focus on photovoltaics. We decisively shape the future energy mix to the advantage of our customers and end-users by combining our technologies with the infinite power of the sun. OUR PERFORMANCE Meyer Burger is characterised by uncompromising quality, value-added innovations, superior customer services and an entrepreneurial pioneering spirit. Our photovoltaic customers rely on comprehensive solutions and complementary technologies along the entire value chain in the manufacturing processes for wafers, solar cells, solar modules and building integrated solar systems. WE CONTINUOUSLY INVEST IN RESEARCH AND TECHNOLOGY DEVELOPMENT AND IMPLEMENT EFFICIENT AND SUSTAINABLE CLEAN ENERGY SUPPLY IN PARTNERSHIP WITH OUR CUSTOMERS. As a full line system provider, we have been commanding a top-ranking position in this industry for many years and enable a sustainable reduction of costs per kwh for solar electricity through our technologies.

3 OUR GLOBAL ACTIVITIES kwh/m 2 per annum kwh/m 2 per annum kwh/m 2 per annum Meyer Burger PV markets with its sales and/or project activities Sunbelt Sunbelt regions with major PV potential (Source: EPIA) Meyer Burger companies 1 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

4 HIGH GROWTH OPPORTUNITIES DEAR SHAREHOLDERS 2014 was another year of strong growth in newly installed photovoltaic (PV) capacity for private and commercial end users. Around 40 GW of newly installed PV capacity increased the global total to about 180 GW as of year-end 2014, representing a growth rate of ca. 28% year-on-year. This quantity corresponds to the capacity of about 105 modern gas-fired power plants. Supply and demand for solar cells and modules are gradually beginning to balance out following years of sustained and vigorous growth in PV end-user markets coupled with their global expansion. Several cell and module manufacturers have also confirmed that their production capacity was fully utilised in the second half of Installed PV capacity is expected to grow by an additional 50 to 100 GW annually up to 2020 and will reach a total volume of around 500 to 600 GW in that year. Political attitudes towards photovoltaics as a fast, cost-efficient source of energy have evolved very positively in the recent past. Photovoltaics is being acknowledged as an increasingly attractive energy technology from an economic perspective for many countries. A national production infrastructure not only cuts down on costly imports of fossil fuels but also boosts local employment. Consequently, more and more countries are WITH OUR TECHNOLOGY PORTFOLIO, WE ARE ADDRESSING A MARKET POTENTIAL OF ABOUT CHF BILLION OVER THE NEXT FIVE YEARS. Peter Pauli, CEO Meyer Burger Technology Ltd developing their local production capacities. Photovoltaics is playing an ever more important role in the global energy mix as a decentralised, renewable energy technology. Arab countries, for example, are looking to protect their oil reserves and to cover domestic needs with PV, or even to export PV modules. The growing demand for energy in the emerging markets has to be met and the energy transition in the industrialised countries to be supported. Solar cell and module manufacturers will therefore need to make new investments in manufacturing capacities and in technology expansions in order to keep abreast of this market growth. In the first phase, this can be achieved by using Meyer Burger technologies to improve the performance of existing production capacities. The trend of declining manufacturing costs for solar modules will continue in the mid-term. Since the proportion of material costs is already very small, the costs per kilowatt of output can also be reduced by improving efficiency. And this is exactly the area where Meyer Burger has enhanced its high-efficiency technologies in recent years. With its broad product and systems portfolio, Meyer Burger is uniquely placed in the PV equipment market and covers the entire value chain. The increase in installed PV capacity from today s about 180 GW to 600 GW and the capacity adjustments and resulting technology upgrades by cell and module manufacturers represent an addressable market potential for Meyer Burger of about CHF 18 to 20 billion in the next five years ( ). 2 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

5 2014 a transitional year for Meyer Burger Group As expected, Meyer Burger achieved a strong increase in net sales compared to the previous year. The Group also concluded important new contracts mainly in smaller and medium-sized orders. In terms of profitability, our net result improved year-on-year but still remained unsatisfactory overall. New order volume totalled CHF million, representing a 13% increase year-on-year (2013: CHF million). The average run-rate of normal business (excluding large contracts) was 67% higher than in the previous year, a clear illustration of both the upturn in demand for PV upgrade systems and for Specialised Technologies solutions. Net sales rose substantially by 56% to CHF million (2013: CHF million). Operating expenses were reduced through additional measures aimed at focusing the activities of our production and competence centres. EBITDA amounted to CHF 95.6 million (2013: CHF million) and was negatively influenced by special items mainly in connection with the Chapter 11 filing of GT Advanced Technologies Inc. Excluding these non-recurring special items, adjusted EBITDA totalled approximately CHF 75 million. The net result for the year was CHF million (2013: CHF million). Further measures to improve the cost structures at our technology and production sites in Thun and Colorado Springs during January 2015 will have a positive effect on the operating cost base for The cost-cutting measures introduced in 2014 and early 2015 will enable us to lower the break-even point at EBITDA level to sales of around CHF 400 million (from previously CHF 450 million), without abandoning our technology leadership. Further development of technologies Meyer Burger continued to develop and refine its technologies during 2014, thereby safeguarding its technology leadership and strengthening its existing market and product positioning. We invested CHF 59.5 million in research and development in the 2014 reporting period, corresponding to about 19% of net sales. We are convinced that further significant efficiency improvements in PV production can be achieved along the value chain by using and combining new technologies and through process optimisation. Meyer Burger is a strong technology group that operates globally in a variety of high-tech industries, such as the semiconductor, optoelectronic and photovoltaic sectors. In addition, the Group is also a leading supplier of technologies for ion sources, CVD systems, logistics systems, robotics, automation and energy systems. Meyer Burger successfully deploys the technologies available in the Group to drive down costs in the industrial production of wafers, cells and modules and by doing so effects considerable further reductions in the costs per kwh. It is of key importance to combine process and manufacturing technologies optimally and to deploy them effectively along the entire value chain from the wafer through the cell to the finished module. 3 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

6 Here are three examples of synergies from which our customers receive enormous benefits: 1. MB PERC upgrade with 5-busbar technology and diamond wire-based wafering 2. MB PERC upgrade with SmartWire Connection technology, which is also suitable for very thin wafers 3. MB Heterojunction with SmartWire Connection technology and diamond wire-based wafering The configurations highlighted in each of these examples can reduce production costs significantly beyond the individual effects. In the wafer process, Meyer Burger s advanced wire winding system for diamond wire sawing processes, Diamond Wire Management System (DWMS), won top place in the PV process award category at the Solar Awards This innovative, award-winning wire winding system was specially designed for the diamond wire sawing processes and reduces wire consumption by almost one third. WITH MORE THAN CHF 59 MILLION, WE HAVE MADE STRATEGICALLY IMPORTANT INVEST- MENTS INTO THE FURTHER DEVELOPMENT OF OUR TECHNOLOGIES AND INTO THE FUTURE. Peter M. Wagner, Chairman Meyer Burger Technology Ltd The coating technology for the heterojunction (HJT) high-performance cells was further developed at Meyer Burger Research. An outstanding feature of this technology is its excellent temperature coefficient, which increases the energy yield in sunny climatic zones by more than 10 percent compared to standard cell technologies. Meyer Burger also offers proven cell coating technology, for example with the aluminium oxide (AlOx) process, to achieve optimum efficiency in existing cell technology systems based on diffusion processes with PERC upgrade processes. In addition to its cost-cutting, efficiency-boosting technologies for wafers and cells, Meyer Burger has developed SmartWire Connection Technology (SWCT). This technology reduces silver consumption significantly, increases reliability with more than 2,000 contact points and effects major improvements in module performance overall. We deliver the most advanced solutions to customers in existing solar markets as well as to new customers in the emerging markets with game-changing PV technologies, such as Heterojunction (HJT), SmartWire Connection Technology (SWCT), MB PERC and our diamond wire sawing technology for very thin, high-quality wafers. In addition, Meyer Burger is building on its existing technologies and capabilities to develop markets outside the Photovoltaics market in the Specialised Technologies field. These include PiXDRO printing technology for the semiconductor industry, microwave and plasma technologies for use in organic and environmental technologies and plasma and ion beam technologies for surface treatment and sensor production. Detailed information on our Photovoltaic Technologies can be found on pages 8 15 and on our Specialised Technologies on pages 16/17. 4 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

7 Outlook Solar energy, as an important element of our future energy supply, will continue to enjoy significant growth rates in the coming years and decades. International Energy Agency (IEA) estimates an installed base of more than 4,700 GW of PV capacity by the year 2050 (compared to 180 GW in 2014 and approximately 600 GW expected in 2020). Meyer Burger is addressing this long-term growth trend with the broadest and most cutting-edge technology and product portfolio in the industry, combined with a strong global sales organisation. Top priorities for 2015 are high growth, strict cost control and the achievement of the breakeven point at EBITDA level. For the longer term, we have set ourselves the goal of achieving sales in the order of CHF 1.3 billion with an EBITDA margin ranging between 13% and 15% for the year Detailed information on the 2014 annual results can be found in section Report to Fiscal Year 2014 Management Report. Board of Directors Rudolf Güdel, a member of our Board of Directors, passed away in September 2014 after a short and serious illness. He had been a member of the Board of Directors of Meyer Burger Technology Ltd since As an industry specialist in solar energy, robotics and automation, he made a major contribution to the expansion of our Group. The Board of Directors and the Executive Board have lost in him not only a colleague with a profound knowledge of the industry but also a friend. We are extremely grateful for his enormous support. The Board of Directors proposes to the General Meeting of Shareholders on 29 April 2015 Ms Wanda Eriksen-Grundbacher and Dr Franz Richter as two new candidates for election to the Board of Directors. Wanda Eriksen-Grundbacher is a long-time expert in finance, corporate governance and risk management, whereas Dr Franz Richter will enhance the Board with his many years of experience in the semiconductor industry and related markets. Both candidates have an impressive international track record and will ideally complement the existing Board of Directors. Thank you Special thanks go to our employees for their outstanding efforts on behalf of the Meyer Burger Group, which deserves our highest recognition. We also thank our customers, suppliers, business partners and you, our valued shareholders, for placing your trust in us. Peter M. Wagner Chairman Peter Pauli Chief Executive Officer 5 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

8 VISION AND STRATEGY FOCUS ON TECHNOLOGY Meyer Burger Group is a leading global technology Group specialising in innovative systems and processes based on semiconductor technologies. The Group s focus is on photovoltaics (solar industry) while its competencies and technologies also cover important areas of the semiconductor and the optoelectronic industries as well as other selected highend markets based on semiconductor materials. Over the last fifteen years, Meyer Burger has risen to the forefront of the photovoltaic market and established itself as an international premium brand by offering superior precision products and innovative technologies. The Group s offering in systems, product equipment and services along the photovoltaic WE DECISIVELY SHAPE THE FUTURE ENERGY MIX WITH OUR TECHNOLOGIES. OUR VISION We are the leading technology Group for innovative and cost-efficient solutions based on semiconductor technologies and with a focus on photovoltaics. HIGH-END SOLUTIONS FOR HIGH-TECH INDUSTRIES. We decisively shape the future energy mix to the advantage to our customers by combining our technologies with the infinite power of the sun. value chain includes the manufacturing processes for wafers, solar cells, solar modules and solar systems. Meyer Burger provides substantial added value to its customers and clearly differentiates itself from its competitors by focusing on the entire value chain. For further information on our technologies please refer to page 8. For detailed information to markets and customers please refer to the Report to Fiscal Year 2014 section Management Report. 6 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

9 OUR STRATEGY Our strategy defines how we achieve our vision together based on four pillars: We act as a customer focused solution provider. We always take the customer perspective. We offer our customers integrated systems and dedicated solution packages. We combine our service-oriented machines and system business as well as our logistics driven consumables business with our process know-how and with customer focused process support. We safeguard our technology leadership. We shape the industrial processes of the future and set industry standards. We evaluate and implement new technologies and achieve innovative systems and solutions (technology push). We are always ahead of the market. We achieve fastest time-to-market (market pull). OUR CORE VALUES Passionate We combine our desire for knowledge and our hunger for success with true engineering and construction competence to actively and creatively shape future industrial processes. Determined We are solution-oriented and focused in our work. Our high quality standards and continuous development enable us to set standards and safeguard our technology leadership. OUR VALUES: PASSIONATE, DETERMINED, RESPONSIBLE AND HOLISTIC. Responsible We strive to offer cost-efficient solutions which create sustainable added-value for our customers through our visionary, collaborative approach. Holistic We offer tailored individual and complete solutions as well as highly qualified services along the entire value chain from a single supplier. We implement the highest degree of modular equipment and systems. We strengthen our service network. We empower our organisation to best performance. We position ourselves as an innovative, modern employer. We guarantee the highest level of flexibility and profitability. We continually optimise the use of our resources. 7 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

10 CELL PROCESS MODULE PROCESS HIGH-END SOLUTIONS FOR HIGH-TECH INDUSTRIES THE MEYER BURGER BRAND STANDS FOR EXPERTISE, ADVANCED TECHNOLOGIES AND PRECISION PRODUCTS WHICH ARE BASED ON SEMICONDUCTOR TECHNOLOGIES, WITH A FOCUS ON PHOTO- VOLTAICS. THROUGHOUT THE ENTIRE PHOTOVOLTAIC VALUE CHAIN WE ENABLE OUR CUSTOMERS TO REACH THE LOWEST MANU- FACTURING AND PRODUCTION COSTS IN THE INDUSTRY (TOTAL COST OF OWNERSHIP) BUY DELIVERING CUSTOMISED EQUIPMENT SOLUTIONS, INTEGRATED SYSTEMS AND LINE OFFERINGS. A WAFERLINE Within the WaferLine, Meyer Burger consolidates all steps of the wafering process into a compact, integrated line. All processes are optimally aligned with one another and monitored throughout the entire wafer production process. The material flow is coordinated with the core processes which results in high quality wafers, increased output and reduced production costs. The heart of the WaferLine is the advanced, environmentally friendly diamond wire cutting process. WAFER PROCESS B C The wafer process begins with the MB BrickLine which consolidates all process steps for the production of the ingot or brick, which were previously carried out in separate machines, into a fully automated process. The innovative Wafer Tracking Code can also be integrated into the MB BrickLine if so required by our customers. See Process Intelligence page 14. A Energy efficient Cost savings MB BrickLine Time savings Upgradeable Environmentally friendly Industrialised process Increased energy yield B

11 B DIAMOND WIRE The diamond wire technology from Meyer Burger achieves a further reduction in cost per wafer. The environmentally friendly water based sawing process cuts the brick at double the cutting speed compared to the standard slurry cutting process. This increases production output significantly and maximises machine capacity. The high quality and ultra-thin wafers cut with diamond wire are perfectly suited for application in the trendsetting heterojunction (HJT) cell process. C DIAMOND WIRE MANAGEMENT SYSTEM (DWMS) Winner of the Solar Award 2014, the DWMS is an innovative wire winding system which has been specially designed for Meyer Burger diamond wire saws. During cutting, the wire is wound and unwound on spools on each side of the wire web. The innovative DWMS design separates the spool into a supplier (storage) part and a working part. On the working part, the wire is wound in non-overlapping windings with a minimal pitch. This completely eliminates wire to wire contact, thus extending the life of the wire. Working area Working area Working area area Storage Storage area Storage area without DWMS 9 with DWMS

12 WAFER PROCESS CELL PROCESS MODULE PROCESS D F E TECHNOLOGIES FOR TOMORROW S WORLD EVOLUTIONARY UPGRADE TECHNOLOGIES LIKE PERC OR 3 5-BUS- BARS CAN UPDATE EXISTING PRODUCTION FACILITIES IN ORDER TO SIGNIFICANTLY INCREASE OUTPUT AND ENERGY GENERATION. HIGH PERFORMANCE TECHNOLOGIES SUCH AS HETEROJUNC - TION CELL DESIGN OR SMARTWIRE CONNECTION TECHNOLOGY OFFER GROUNDBREAKING WAYS TO REDUCE THE LEVELISED COST OF ELECTRICITY (LCOE) IN PHOTOVOLTAICS. D CELL LINE Processing a silicon wafer profitably into a flawless solar cell is a key function in photovoltaic manufacturing. Whether producing high efficiency cells with heterojunction technology (HJT) or upgrading existing lines with the PERC technology, it is the coating systems which significantly increase a cell s power output compared to standard solar cells. With an integrated production system, cell efficiencies of 20% (MB PERC) respectively 22% (HJT) can be achieved. E MB PERC SOLUTION PERC is an upgrade technology for standard AL-BSF solar cells which increases efficiencies by using aluminum oxide (AIOx) passivation with a silicon nitrate capping layer to improve the transformation of solar energy into electric energy. The Meyer Burger approach offers a solution using existing equipment to achieve high quality solar cells and excellent customer profitability in preparation for forthcoming market development.

13 F HETEROJUNCTION TECHNOLOGY (HJT) Heterojunction cell technology combines the advantages of mono crystalline silicon (c-si) solar cells with the good absorption and the superior passivation characteristics of amorphous silicon (a-si). The economically attractive HJT production process takes place at low temperatures and requires fewer process steps compared to other high efficiency designs resulting in lowest energy manufacturing costs. The high efficiency of HJT cells combined with their thermal characteristics enable significant increases in energy generation. As the performance of current established PV technologies reach their end in the near future, HJT will continue to develop its full performance potential. KEY BENEFIT: SERVICE SKILLS It is not only our high quality technology and equipment which our customers benefit from but also our extensive consulting services such as project planning, engineering concepts and knowhow transfer as well as customised service packages which are convincing factors in the market. The Meyer Burger Technology Group impresses manufacturing customers with detailed product, technology and process knowledge along the entire value chain. Our high level of maturity in services and our individual production concepts offer a distinct advantage to customers. 11

14 WAFER PROCESS CELL PROCESS MODULE PROCESS G I J H SIGNIFICANT ENERGY FORM OF THE FUTURE LEVELISED COST OF ELECTRICITY (LCOE) DESCRIBES THE COST WHICH IS NEEDED TO TRANSFORM AN ENERGY FORM INTO ELECTRIC CURRENT. WITH OUR INNOVATIVE TECHNOLOGIES AND INTEGRATED PROCESSES, MEYER BURGER IS MAKING A VALUABLE CONTRIBUTION TO THE REDUCTION OF LCOE IN PHOTOVOLTAICS WHICH ENABLES SOLAR ENERGY TO PLAY A SIGNIFICANT ROLE IN THE FUTURE ENERGY MIX. G MODULE LINE With its integrated module line, Meyer Burger offers an optimally harmonised line design which is unique within the PV industry. Existing module lines can be easily upgraded with 5-busbar technology which offers our customers maximum investment safety. New lines which are equipped with the pioneering SmartWire Connection technology (SWCT) ensure lowest production costs while delivering maximum energy efficiency. H 5-BUSBAR TECHNOLOGY Meyer Burger has enhanced its proven soldering technology for the 5-busbar technology. In combination with high efficiency technology cell designs, maximum module outputs can be achieved. Customers who are already using Meyer Burger stringer equipment can profit from all the advantages of the 5-busbar technology simply by upgrading their manufacturing equipment.

15 I GLASS/GLASS MODULE Compared to conventional glass/backsheet modules, the trendsetting glass/glass modules are constructed without the aluminum frame and are equipped with thinner layers of glass. This reduces the overall cost of production. Glass/glass modules offer the best protection against harsh environmental influences and in combination with the latest generation of encapsulant, they have a life span of over 40 years. J SMARTWIRE CONNECTION TECHNOLOGY (SWCT) SWCT is the most cost-effective method of connecting cells. Employing a wire-foil electrode instead of the conventional cell connectors (ribbons), this pa tented solution improves the efficiency of solar modules. The dense contact matrix and the resulting lower shading significantly enhances solar module perform ance while the elimination of the busbars on both sides of the cell combined with the optimisation of the finger widths reduces the amount of silver required by up to 80%. 13

16 WAFER PROCESS CELL PROCESS MODULE PROCESS PROCESS INTELLIGENCE PROCESS INTELLIGENCE IS THE KEY TO A HOLISTIC UNDERSTANDING OF THE COMPLETE PRODUCTION PROCESS ALONG THE ENTIRE VALUE CHAIN. BY ENABLING MATERIAL TRACKING, DATA COLLECTION AND THE EVALUATION OF ALL PRODUCTION PROCESS, PROCESS INTELLIGENCE TECHNOLOGY AND SOLUTIONS CAN SIGNIFICANTLY CONTRIBUTE TO MAXIMIZING THE YIELD AND EFFICIENCY OF THE ENTIRE MANUFACTURING LINE. MATERIAL TRACKING CODE The brick marking system enables the marking of each brick with the SEMI standardized Hennecke System Compressed Code (HSC) making it possible to trace the wafers within the production process. The data can be analyzed to optimise the wafer and cell production processes. In combination with photoluminescence inspection, it enables a detailed understanding of the whole production chain. PIONEERING PV MEASUREMENT TECHNOLOGY Solar modules are sold based on performance categories making the precise performance measurement of both cells and modules critically important. Meyer Burger sets the standard for industrial measurement technology with its contacting system for busbarless cells and innovative solutions for accurate power rating of high efficiency cells and modules. Meyer Burger s award winning performance measurement technology for high efficiency modules is A + A + A + certified from TüV Rheinland. PHOTOLUMINESCENCE INSPECTION Corner Middle Border The inline photoluminescence measurement technology provides information about wafer quality while also offering a prognosis about cell efficiency. The information can be used to optimise the entire production process for ingot, wafer, cell and module, especially when combined with the HSC code.

17 ENERGY SYSTEMS MEYER BURGER IS ACTIVELY ENGAGED IN IMPLEMENTING FUTURE-ORIENTED ENERGY STRATEGIES AND REALISING INTELLIGENT ENERGY SYSTEMS. TOGETHER WITH PARTNERS IN INDUSTRY, RESEARCH AND POLITICS, AT THE TRADE ASSOCIATION LEVEL AND WITH OUR CUSTOMERS. WE AIM TO PROVE THAT RENEWABLE ENERGIES WILL SIGNIFICANTLY CONTRIBUTE TO THE FUTURE ENERGY SUPPLY. WE ARE PROACTIVELY INVOLVED IN SUCH TOPICS AND ISSUES AS ENERGY GENERATION, ENERGY STORAGE AND ENERGY EFFICIENCY. BUILDING INTEGRATED PHOTOVOLTAICS (BIPV) Meyer Burger sets global standards for building integrated solar systems which successfully combine quality and aesthetics. The MegaSlate solar roof system was developed by Meyer Burger and provides a flexible design combining photovoltaics, solar thermal power, roof-lights and snow guards in a homogeneous building integrated concept. HYBRID TECHNOLOGY As a solution provider, Meyer Burger develops complete hybrid solutions which combine solar electricity production and solar thermal power resulting in a sustainable increase in both power and profitability. The hybrid collector primarily delivers low temperature solar heat (temperatures from 25 to 35 C) for the heat pump and for the thermal regeneration of the geothermal heat exchanger. This enables the storage of energy generated in the summer months to be used in the winter period and it prevents the cooling of the geothermal heat exchanger. The unique combination of solar thermal power and photovoltaics efficiently cools the solar cells in the hybrid collector which increases electricity generation by up to an additional 10% ) Hybrid collector 2) Geothermal heat exchanger 3) Heat pump 4) Ventilation 5) Control 15

18 SPECIALISED TECHNOLOGIES MEYER BURGER S SPECIALISED TECHNOLOGIES PORTFOLIO HAS EVOLVED FROM TECHNOLOGIES WHICH WERE SUCCESSFULLY IMPLEMENTED IN THE PV MARKET AND WHICH NOW COVER A BROAD RANGE OF APPLICATIONS IN OTHER HIGH-TECH MARKETS. The microwave or plasma technologies from Muegge are used in bio and environmental technologies. The PiXDRO printing technology from Roth & Rau B.V. is utilized in the semiconductor industry and with its plasma and ion beam technologies; the MicroSystems business unit provides innovative solutions for surface treatment and sensor production. Roth & Rau Ortner supplies award winning service and handling systems for clean room environments for the semiconductor industry. AIS is a specialist for software development and provides control systems for factory automation, freight terminals or the automobile industry. Meyer Burger is ideally positioned with its extensive portfolio of high-tech solutions to actively tackle new trends in other industries. SPECIALISED CUTTING TECHNOLOGIES With its longtime expertise in the cutting of hard, brittle and valuable materials, combined with its experience in the photovoltaic and semiconductor industry, Meyer Burger is an important supplier in future-oriented markets. Its high-end equipment is used for example to cut sapphire crystals into bricks and wafers or to slice ceramics, glass, quartz and a variety of other hard and brittle materials. Sapphire wafers are used in light emitting diodes (LED) as well as in watch glass and are now also applied in the touch screen industry. The demand for quality control as well as handling and automation systems in these industries is steadily increasing. Based on its know-how in the photovoltaic and the field of sapphire, Meyer Burger already offers customised solutions which, in combination with its cutting technologies, ensure efficient control of the manufacturing process.

19 INDUSTRIAL INK JET PRINTING Roth & Rau B.V specialises in industrial applications for multifunctional ink jet printing. Under the award winning PiXDRO brand name, various systems have been developed which enable the scaling of industrial ink jet printing from laboratory applications to the point of mass production. The PiXDRO platforms are especially suitable for the manufacture of sensors used in the semiconductor industry, for OLED products (illumination, display, 3D), touch screen products as well as for printed electronics. HIGH-TECH FOR NANO SURFACES The MicroSystems business unit develops advanced technologies and systems for the coating and structuring of surfaces based on plasma and ion beam processes. Not only is this technology the basis for coating systems in the manufacturing of solar cells but it is also applied in highly technical areas in the semiconductor industry as well as in the manufacturing of sensors and micro system components. 17

20 EMPLOYEES 18 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

21 Development of personnel since 2010 Number of employees (FTE) Employee structure as of 31 December % Production, logistics 22% Research, development 27% Sales, services 13% Finance, administration ,200 1,600 2,000 2,400 2,800 Meyer Burger Group values the motivation, skills and loyalty of its employees as the most important factors for its own success. As a technology group, we foster a pioneering entrepreneurial spirit. To be pioneers in our industry implies that our employees and all of us as a company have to be willing to enter unchartered territory. We develop entirely new sales markets and optimise production equipment and processes in such a way that increased customer value and a sustainable reduction of total cost of ownership can be achieved in the targeted industries. Meyer Burger Group employed 1,752 people (FTE) in ten countries as of 31 December As a modern employer, we support and broaden their professional OVER 1,700 EMPLOYEES: WORKING TOGETHER TO GUARANTEE ADVANCED TECHNOLOGY SOLUTIONS AND FIRST- CLASS SERVICES FOR OUR CUSTOMERS. skills and know-how through expert trainings, individually tailored seminars and vocational training programmes. JUNIOR STAFF DEVELOPMENT Meyer Burger has been actively promoting apprenticeship training programmes at the competence centres in Thun/Switzerland and Hohenstein-Ernstthal/ Germany for many years. In Thun, 44 apprentices are being trained in six different professions (business administration, information technology, logistics, automation mechanics, design engineering and polymechanics) as well as 2 trainees during 2014/2015. They represent 9% of the total number of employees working in Thun. In Hohenstein-Ernstthal, there are 7 apprentices in training in four different professions (automation technology, electronics, industrial mechanics and mechatronics) and 5 engineering students in work-study placements in the area of microtechnology (bachelors and masters degree programmes). They make up 4% of the total number of employees in Hohenstein- Ernstthal. With this particular concept, we foster the development of young people in our industry and at the same time contribute to the professional promotion on a regional level. MANAGEMENT DEVELOPMENT We support management succession from among our own ranks by a targeted management development process. In 2014, 64% of all vacant senior management positions were staffed with internal candidates. For further information on Human Resources issues please refer to the Report to Fiscal Year 2014 sections Management Report and Sustainability. 19 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

22 FIVE-YEAR SUMMARY Meyer Burger Group in TCHF Consolidated income statement Incoming orders Net sales Operating income after costs of products and services in % of net sales 42.3% 50.6% 44.1% 46.2% 49.5% Earnings before interest, taxes, depreciation and amortisation (EBITDA) in % of net sales 30.3% 57.9% 5.1% 21.2% 22.7% Earnings before interest and taxes (EBIT) in % of net sales 51.2% 97.1% 19.8% 8.9% 15.5% Earnings before taxes (EBT) Group result Consolidated balance sheet (as of 31 December) Total assets Current assets Long-term assets Current liabilities Non-current liabilities Equity Equity ratio 46.6% 52.1% 49.9% 55.4% 60.3% Cash Flow Statement Cash flow from operating activities Cash flow from investing activities Investments in property, plant and equipment Cash flow from financing activities Employees 2 No. of employees (as of 31 December) Net sales by employee in TCHF Operating income after costs of products/services by employee in TCHF Financial statements for fiscal years in accordance with Swiss GAAP FER, previous years 2011/2010 in accordance with IFRS 2 Employees refers to full-time equivalent basis (FTE) 3 Based on average number of employees 20 Corporate Profile _Letter by the Chairman/CEO 6_Vision and Strategy 8_Competencies, Technologies 18_Employees 20_Five-Year Summary

23 ((Dunklere Flächen werden bis auf die Längsstreifen hell gemacht, Querlinien wegretuschiert, so dass der Titel auf ruhigem Hintergrund steht)) 88828_MB_Profil_2014_E.indd : _MB_Bericht_2014_E.indd 88828_MB_Bericht_2014_D.indd :30 10:31 Annual Report 2014 The Annual Report 2014 consists of two parts: Company Profile and Report to Fiscal Year Both documents are available on the company website: CORPORATE PROFILE HIGH-END SOLUTIONS FOR HIGH-TECH INDUSTRIES Meyer Burger Meyer Berichterstattung Burger Report Geschäftsjahr to Fiscal Year 2014 BERICHTERSTATTUNG REPORT TO GESCHÄFTSJAHR FISCAL YEAR 2014 Declaration on forward-looking statements This Company Profile and the Report to Fiscal Year 2014 are integral parts of the Meyer Burger Technology Ltd Annual Report Both documents contain statements that constitute forward-looking statements, relating to Meyer Burger. Because these forward-looking statements are subject to risks and uncertainties, the reader is cautioned that actual future results may differ from those expressed in or implied by the statements, which constitute projections of possible developments. All forward-looking statements are based only on data available to Meyer Burger at the time of preparing the Annual Report Meyer Burger does not undertake any obligation to update any forward-looking statements contained in these documents as a result of new information, future events or otherwise. The Company Profile and Report to Fiscal Year 2014 are also both available in electronic form and in German. The original German language version is binding. The Company Profile and Report to Fiscal Year 2014 are available on the internet: Publishing details Publisher: Meyer Burger Technology Ltd, Gwatt (Thun) Concept: Tolxdorff & Eicher Consulting, Horgen Creation/design/production: Linkgroup, Zurich Sustainability advisor: sustainserv, Zurich and Boston Translation: CLS Communication, Basel Meyer Burger Technology Ltd 2015 Climate neutral manufactured by Linkgroup. Printed in Switzerland

24 Meyer Burger Technology Ltd Schorenstrasse 39 CH-3645 Gwatt (Thun) Switzerland