6 April 2018

Midsummer doubles annual revenue and profit

© Semiconductor Today Magazine / Juno PublishiPicture: Disco’s DAL7440 KABRA laser saw.

Midsummer AB of Järfälla, near Stockholm, Sweden – a provider of turnkey production lines for manufacturing flexible, lightweight copper indium gallium diselenide (CIGS) thin-film photovoltaic (PV) solar panels – says that, for full-year 2017 compared with 2016, its revenue nearly doubled, up 94% from SEK59m to SEK115m ($14m; €11.3m). This follows a previous doubling of revenue and profit in 2016 compared with 2015.

Annual profit before taxes more than doubled, up by 135% from SEK10.4m to SEK24.5m ($3m; €2.5m). Operating margin was 21.7%.

Growth was due to several new orders for the firm’s compact DUO thin-film solar cell manufacturing system and a “positive market response” to the launch of its new building-integrated photovoltaic (BIPV) business concept.

Midsummer claims that the DUO system has established itself as the most widespread manufacturing tool for flexible CIGS solar cells, and that it is now the only firm to offer light, flexible, robust solar panels with high energy efficiency.

Last year, Midsummer established a strategic production partnership with Swedish roof manufacturer Clix for the launch of Clixsun, a roofing system with integrated solar panels that has added a second business area to Midsummer.

“We see a continued high demand for our products and the order outlook for 2018 is very promising, both for DUO manufacturing systems and for deliveries of solar panels,” says CEO Sven Lindström. “We expect to double the number of employees in 2018.”

Tags: CIGS Thin-film PV

Visit: www.midsummer.se