March 12, 2020 / 5:42 AM / 2 months ago

BRIEF-Meyer Burger Technology FY Net Loss At CHF 39.7 Million

March 12 (Reuters) - Meyer Burger Technology AG:

* FY NET SALES OF CHF 262.0 MILLION

* FY EBITDA OF CHF -13.5 MILLION

* FY EBIT OF CHF -28.6 MILLION

* FY NET LOSS OF CHF -39.7 MILLION

* RESOLVED TO INTRODUCE SHORT-TIME WORKING AT ITS HOHENSTEIN-ERNSTTHAL (GERMANY) SITE FROM 16 MARCH 2020 ONWARDS

* MEASURE IS EXPECTED TO HELP COMPANY TO COMPENSATE FOR TEMPORARY DECLINE IN ORDERS

* BOARD OF DIRECTORS APPOINTS DR GUNTER ERFURT AS NEW CEO OF MEYER BURGER GROUP.

* HANS BRÄNDLE TO SUPPORT GUNTER ERFURT IN HANDOVER, THEN SUPPORT BOARDS UNTIL MID 2020

* CHAIRMAN OF BOARD OF DIRECTORS REMO LÜTOLF NOT TO STAND FOR RE-ELECTION AT FORTHCOMING AGM Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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