Annual Report 2010 - Meyer Burger Technology AG

Annual Report 2010

The Meyer Burger Group
Meyer Burger Annual Report 2010
Meyer Burger Technology Ltd is one of the world’s leading
providers of innovative systems and production lines for photovoltaics
in the solar industry, and for the semiconductor and optics
industries. The globally active technology group employs more
than 1 200 people across three continents. In photovoltaics, Meyer
Burger offers its customers complete systems, comprehensive
solutions and complementary technologies along the entire value
chain including wafering, cells, modules and integrated solar systems.
Mono­/Multi­c­Si Wafering Solar cells Solar modules Solar systems
The systems, expertise and technologies of Meyer Burger Group are also deployed
in the semiconductor and optical industries. The Group’s core competences encompass a
broad range of production processes, machines and systems, which are used for the production
of ultra­thin, high­quality wafers, for the inspection and measurement of solar cells,
for laminating, soldering, and testing of solar modules and for building­integrated solar systems.
The Group covers the most important technology steps in the value chain of photovoltaics
with its products and solutions portfolio. A worldwide service network with wear and
tear parts, consumables, re­grooving services, process know­how, after­sales service, training
and other services completes the comprehensive product portfolio.

Wafering
Cutting technologies,
band saws, ID/OD saws,
wire saws
Solar cells
Inspection systems,
loading and unloading
systems, sorting
systems for solar cells
Solar modules
Fully automatic production
lines for solar modules,
fully automatic laminating
lines
Solar systems
Solar systems for façades,
roofs, shading solutions
Customer services
Global after­sales services
Our Brands and Technologies
Diamond wire technology,
process consumables
Customised solutions
for cell handling
Fully automatic string
soldering machines,
soft­touch soldering
process for solar cells
Automation and
robotic systems
Fully automatic string
soldering machines,
soft­touch soldering
process for solar cells
Testing systems for solar
cells and modules
Measurement and inspection
systems, sorting
systems for solar wafers
Testing systems for solar
cells and modules
Meyer Burger Annual Report 2010
Customised solutions
for wafer handling,
automation technology
SOLARIS
Coating for c­Si solar cells
Powered by Oerlikon Systems

Key Figures
Consolidated income statement
in TCHF 2010 2009
Net sales
826 005 420 943
Gross profit 408 752 170 076
in % of net sales 49.5% 40.4%
EBITDA 187 535 63 323
in % of net sales 22.7% 15.0%
EBIT 127 851 41 314
in % of net sales 15.5% 9.8%
Group earnings 97 949 29 177
Consolidated balance sheet
in TCHF 31.12.2010 31.12.2009
Total assets
1 066 799 460 195
Current assets 624 564 283 745
Long­term assets 442 234 176 450
Current liabilities 372 300 178 178
Non­current liabilities 51 572 85 730
Equity 642 927 196 287
Equity ratio 60.3% 42.7%
Net sales
in CHF million
800
600
400
200
0
2007
2008
2009
2010
EBITDA
in CHF million
200
150
100
50
0
2007
2008
2009
2010
Total balance sheet
in CHF million
1200
900
600
300
0
2007
2008
2009
Meyer Burger Annual Report 2010
2010
Equity
in CHF million
600
450
300
150
0
2007
2008
2009
2010

Table of Contents
2 Letter to Shareholders
Report to Fiscal Year 2010
10 Management discussion and analysis of results 2010
18 Meyer Burger Group strategy
19 Our Global Presence
20 Core competences of Meyer Burger Group
28 Sustainability
34 Milestones
Corporate Governance
36 Group structure and shareholders
39 Capital structure
46 Board of Directors
58 Executive Board
62 Compensation, shareholdings and loans
64 Shareholders’ participation rights
65 Change of control and defence measures
66 Auditors
67 Information policy
Financial Report
70 Consolidated balance sheet
71 Consolidated income statement
72 Consolidated statement of other comprehensive income
73 Consolidated cash flow statement
74 Consolidated statement of changes in equity
76 Notes to the consolidated financial statements
138 Report of the auditors
140 Balance Sheet
141 Income statement
142 Notes to the financial statements
147 Proposal by the Board of Directors for the allocation of retained earnings
148 Report of the auditors
Other information
150 Five-year summary
151 Information for investors and media
152 Addresses

2
Peter M. Wagner
Chairman
Peter Pauli
Chief Executive Officer
Letter to Shareholders
Dear Shareholders
Meyer Burger Annual Report 2010
2010 was once more a record­breaking year for Meyer Burger Group. An organic
sales growth of 62%, the successful integration of the 3S Group companies, surpassing the
CHF 1 billion mark in incoming orders and order backlog for the first time in the company’s
history, and robust operating results are highlights in 2010 that we are proud of. Meyer Burger
is a healthy, innovative technology Group, with a strong balance sheet, high cash flows,
attractive profit margins and interesting prospects for continuing strong, sustainable growth.
With the large order backlog at year­end, surpassing the CHF one billion mark in sales will
just be a matter of time during 2011.
Rising demand for energy – solar power to be a key part of the solution
Global demand for energy will continue to rise in the coming years. Estimates by
respected, independent institutions such as the International Energy Agency (IEA) anticipate
that global primary energy consumption will increase by 36% between 2008 and 2035, corresponding
to an average annual growth rate of approximately 1.2%. Electricity consumption
will increase by 2.2% per annum over the same period. The market share of technologies that
use renewable energy will climb rapidly. Fossil fuels, such as crude oil, will become more
expensive as supplies are finite, and climate change in particular means that alternative
technologies will have to be used to a greater extent for the generation of electricity. With its
technologies, processes and systems, Meyer Burger Group is active along the entire value
chain of photovoltaics and thereby directly influences a further reduction in production costs
and cost of electricity from renewables for the end users.
Governments and politicians all around the world are faced with the challenge of
adopting an environmental­friendly energy mix. The range of programmes for solar power
and other renewable energy solutions that have been launched in major countries such as
China, the USA and India as well as in many European countries, underlines the changes in
attitude in this direction. That countries like Germany or Spain cut their feed­in tariffs for the
time being, is in our opinion a direct result of the government deficits due to the economic
and financial crisis of 2008/2009. We anticipate that this will result in a market consolidation
among manufacturers and distributors of solar cells in the next few years. Nevertheless, the
dynamic development of the solar industry as a whole will remain uninterrupted.

Additional technological advances are needed in the industry in order to further
reduce the production costs of solar systems and to achieve grid parity as soon as possible.
We believe that in certain countries grid parity could already be reached in 2012. With its
strong strategic market position, Meyer Burger will continue to profit from the expected
increasing demand. We will continuously expand our technological edge. The financial
situation of our Group also allows us additional growth through targeted value­enhancing
acquisitions.
Strong, profitable growth in 2010
In 2010, Meyer Burger Group recorded CHF 1,329.8 million in incoming orders
(2009: CHF 193.7 million). The order backlog also surpassed the CHF 1 billion mark for the
first time in the company’s history, amounting to CHF 1,048.5 million as of 31 December 2010
(2009: CHF 516.4 million). Net sales rose by 96% to CHF 826.0 million (2009: CHF 420.9
million). The organic growth rate – achieved by the companies that were already within the
scope of consolidated in 2009 – reached 62%. This underlines the strong market position of
our Group, and our excellent performance.
Profitability also increased sharply. EBITDA rose by 196% to CHF 187.5 million
(2009: CHF 63.3 million), representing an EBITDA margin of 22.7% (2009: 15.0%). Group
earnings amounted to CHF 97.9 million (2009: CHF 29.2 million). Total assets reached
CHF 1,066.8 million as of 31 December 2010 (2009: CHF 460.2 million) and equity amounted
to CHF 642.9 million (2009: CHF 196.3 million), representing an equity ratio of 60.3%.
Meyer Burger Group is active in an industry that will continue to be characterised by
strong growth and innovation among the market leading companies. The Board of Directors
therefore proposes to the Annual General Meeting on 21 April 2011 that retained earnings be
carried forward to finance further growth of our Group.
Net sales CHF
826.0 M
3

4
Successful integration of the 3S companies
Integration of the business activities of the 3S Group companies (merger in January
2010) proceeded according to plan and was completed by year­end of 2010. The integration
took place in 16 key projects. During the first half of the year, we also adapted the brand ar­
chitecture of our Group by launching a consistent brand image for all of the different technol­
ogies within the Group during March 2010. Our Group companies’ websites were also rede­
signed as part of this process and now represent a unified brand architecture.
In autumn 2010, we acquired two long­term strategic sales and service partners in
the USA (SGS Slicing Solutions Inc., Colombia, New Jersey, and SGS Machine Tool, LLC,
Hillsboro, Oregon), as part of an asset purchase agreement. This strengthened Meyer Burger
Group’s sales and service organisation in the USA and allows us to serve this market from
two new sites – in addition to Diamond Materials Tech, Inc., which we acquired in 2009.
Outlook
Meyer Burger enjoys an excellent position along the value chain of the solar industry.
With our strong presence in Asia and Europe, we benefit from the capacity expansions by
solar cell manufacturers. For fiscal year 2011, we are planning to achieve further strong sales
growth, with net sales of around CHF 1,200 million and an EBITDA margin of around 20%.
These forecasts are based on the assumption that the economic conditions will remain
largely stable and our customers will be able to realise their infrastructure projects as planned.
We remain very positive on a long­term view. We firmly believe that the solar industry
will meet a high proportion of the world's energy needs in future, as an efficient and environmentally
sound source of energy. It is our firm intention to play a key role in further developing
our market and the necessary technologies. Meyer Burger has the potential and
financial strength to continue on the course of exponential growth of recent years, through
both organic growth and targeted acquisitions.
Personal comments and thanks
As part of the merger with 3S in January 2010, the Board of Directors of Meyer
Burger Group was expanded by three members who had previously served on the Board of
3S Group: Rudolf Samuel Güdel, Rolf Wägli and Prof. Dr. Konrad Wegener. Peter Pauli and
Prof. Dr. Eicke Weber stepped down from the Board of Directors on the date of the successful
merger. Peter Pauli continues to act as CEO of our Group. The newly expanded
Executive Board includes Dr. Patrick Hofer­Noser, Michel Hirschi and Sylvère Leu. Prof. Dr.
Eicke Weber also remains closely involved with the company, and has been in charge of
the newly established Technology Advisory Board since February 2010. The Advisory Board
supports the Board of Directors and the Executive Board with regards to development trends
in solar energy, and new processes and technological solutions.
Meyer Burger Annual Report 2010

The success and repeated dynamic development of our Group in 2010 reflects the
high motivation and outstanding achievements of our employees. On behalf of the entire
Board of Directors and the Executive Board, we would like to express our special thanks
and our highest appreciation. We also thank our customers and suppliers for working with us
and for the trust that they place in our company. We would also like to thank you, our shareholders,
for your confidence in and loyalty to our company. We look forward to sharing a
successful future with you.
Peter M. Wagner Peter Pauli
Chairman Chief Executive Officer
5

PlanetSolar – a project to protect the earth
Circumnavigation of the globe in a solar-powered boat equipped with a
silent, emission-free engine will enable PlanetSolar to display the true potential of
photovoltaic energy technology.
With this project, the PlanetSolar team aims to demonstrate that current
solar technology is reliable and efficient, while giving research into renewable
energies a decisive boost. PlanetSolar has already helped to push forward tech-
nological developments in various areas – such as the manufacture of composite
materials or the production and storage of solar energy or solar power. Each stage
of the project and each day at sea will contribute to scientific progress in solar
technology.
First round­the­globe solar boat expedition
Pasan SA, a member of Meyer Burger Group, actively supports PlanetSolar as an
official scientific partner with many years of experience and know-how in measure-
ment technology for solar modules. We are proud to contribute our expertise to the
Swiss PlanetSolar expedition in the first solar-powered circumnavigation of the
globe by sea.

© PlanetSolar 2010

© Schweizer Solarpreis 2010 / Solar Agentur Schweiz
Klein Matterhorn – Europe’s highest solar power plant
At an altitude of just under 4 000 metres, the façade of the Klein Matterhorn
Glacier Paradise restaurant, built in accordance with the latest environmental stand-
ards, produces the electricity required to run the gastronomy.
Never before has a building-integrated photovoltaic system of this kind
been constructed in Europe at such an altitude. With an installed capacity of 22 kilo-
watts, the electricity generated on the Klein Matterhorn is roughly equivalent to the
annual consumption of twelve households.
Sustainable low­emission construction in the Alps
The high-precision lamination technology of 3S Modultec, a member of Meyer Burger
Group, ensures a long service life for the modules even under the extreme weather
conditions prevailing on the Klein Matterhorn. The new restaurant opened by Zermatt
Bergbahnen is an excellent example of how environmental pollution can be reduced
through modern, sustainable construction. Solar modules from our company provide
the electricity for restaurant visitors and alpinists at this lofty height.

10
Order backlog CHF
1,048.5 M
Net sales by region
in 2010
Asia 76%
Europe 17%
America 7%
Report to the Fiscal Year 2010
Meyer Burger Annual Report 2010
Management discussion and analysis of results 2010
The solar industry recovered significantly during 2010, following a very difficult
market environment in 2009, when the global economic crisis and limited credit availability
affected the financing of large projects. It became already evident during the first half of
2010 that large projects, which will substantially increase manufacturing capacities at solar
cell producers in the years 2011–2013, received financial backing at normal conditions again.
This trend was further confirmed during the second half of the year.
Meyer Burger succeeded in concluding a number of major orders in this environment.
In total, the Group recorded CHF 1,329.8 million in new orders, compared with
CHF 193.7 million in the previous year. For the first time in the company’s history, incoming
orders and order backlog surpassed the CHF 1 billion mark. As of 31 December 2010, the
order backlog amounted to CHF 1,048.5 million, which once more provides an excellent
basis for the business performance in the upcoming two years.
Sales
Net sales rose by 96% to CHF 826.0 million compared to CHF 420.9 million in
2009. The increase in sales was based on 62% organic growth and 34% growth as a result
of M&A activities. Sales grew most rapidly in Asia (+150%), which continues to be the most
important customer region with 76% of net sales (percentage of sales in 2009: 60%). Europe
provided 17% of net sales (change in sales of (4)%; percentage of sales in 2009: 34%), while
customers in the USA accounted for 7% (growth of +144%; percentage of sales in 2009:
6%).
Gross profit
Gross profit more than doubled year­on­year to CHF 408.8 million compared to
CHF 170.1 million in 2009. The gross margin for the period rose to 49.5% from 40.4% in
2009. The increase in margin was mainly due to very high production volumes at the manufacturing
sites in Thun and Zülpich, which resulted in leverage on fixed production costs. This
effect was further supported by general process optimisation, as well as a slightly changed
product mix.
Operating costs
As of 31 December 2010, the Group employed 1,276 people on a full­time basis, an
increase of 73% compared with 31 December 2009. The increase by a total of 538 employees
includes 311 positions resulting from the merger with 3S Group and the acquisition
of the SGS companies in the USA. The remaining 227 posts are newly created positions,
mainly in production, research and development and in the after­sales services of the Group’s
service companies. In addition, 255 temporary employees (as of year­end 2010) were hired,
predominantly in the second half of 2010. Personnel expenses for the year rose to CHF 133.9
million compared with CHF 66.8 million in the previous year.

Report FY 2010 Corporate Governance Financial Report Other Information
Operating expenses increased to CHF 87.4 million during the reporting period,
compared with CHF 40.0 million in 2009. This increase was primarily due to volume­related
higher transportation costs, additional costs arising from the expansion of the Group, and
M&A expenses in conjunction with the merger with 3S Industries Ltd in January 2010.
EBITDA and EBIT
EBITDA amounted to CHF 187.5 million with a margin of 22.7% in 2010, compared
with EBITDA of CHF 63.3 million and a margin of 15.0% in the previous year. Depreciation,
amortisation and impairments during 2010 totalled CHF 59.7 million, including CHF 47.1 million
for scheduled amortisation of intangible assets, which mainly relate to the acquisitions
(Hennecke, AMB Automation and Diamond Wire), and to the merger with 3S Industries Ltd
(3S Modultec, 3S Photovoltaics, Somont and Pasan).
At EBIT level, Meyer Burger Group increased its profit by 209% to CHF 127.9 million
compared with CHF 41.3 million in 2009. The EBIT margin grew by 5.7 percentage points to
15.5%.
Financial result and taxes
The decline of the Euro and the US Dollar against the Swiss Franc (Euro (16.2)%,
US Dollar (9.3)%) compared with year­end 2009 led to a substantially lower valuation of
intercompany loans made by Meyer Burger Technology Ltd to foreign subsidiaries as of the
balance sheet date 31 December 2010. The financial expenses of CHF 37.6 million include
unrealised foreign exchange rate losses of CHF 31.6 million net, which predominantly related
to the intercompany loans. Interest expenses during the reporting period came to CHF 3.5
million, compared with CHF 0.9 million in the previous year.
In the first half of 2010, the federal and cantonal tax authorities granted tax relief
of 50% on federal, cantonal, municipal and church taxes to the subsidiary MB Wafertec
(Meyer Burger Ltd). The tax relief was granted retroactively to 1 January 2008 and for a
period of 10 years. The tax relief resulted in a non­recurring positive effect on income taxes
of CHF 9.6 million (tax credit for years 2008 and 2009) and in a reduction in tax expenses
of CHF 14.1 million for 2010. In total, the income statement for 2010 includes recognised
tax income of CHF 4.6 million, compared to a tax expense of CHF 10.1 million for the previ­
ous year.
Group earnings
Earnings for 2010 amounted to CHF 97.9 million, compared to CHF 29.2 million in
the previous year. This corresponds to diluted earnings per share of CHF 2.18, compared
to CHF 0.94 in 2009. As in previous years, the Board of Directors will propose to the Annual
General Meeting on 21 April 2011 that the retained earnings shall be carried forward in order
to finance continued growth.
EBITDA margin
22.7%
11

12
Equity ratio
60.3%
Balance sheet
Meyer Burger Annual Report 2010
As a result of the merger with 3S Industries Ltd in January 2010 and the excellent
result in 2010, the balance sheet increased strongly, reaching total assets of CHF 1,066.8 mil­
lion as of 31 December 2010. The high amount of cash and cash equivalents and the sound
cash flows allowed the Group to make an early repayment of CHF 29.2 million in June 2010
and a further repayment of USD 20 million in September 2010 on the syndicated loan that
was agreed in September 2009. In addition, a further CHF 6.9 million in bank liabilities was
repaid. Despite these repayments, cash and cash equivalents amounted to CHF 393.5 million
as of 31 December 2010. Compared to the substantial increase in sales, inventories and
trade receivables only increased slightly. In conjunction with the merger with 3S Industries
Ltd, the Group acquired intangible assets in an amount of CHF 326.2 million. Mainly as a
result of the excellent earnings (CHF 97.9 million) and the capital increase in conjunction with
the merger with 3S Industries Ltd, equity increased to CHF 642.9 million from CHF 196.3 million
in the previous year. The equity ratio rose to 60.3% from 42.7% as of year­end 2009. The
balance sheet of Meyer Burger Group by the end of 2010 is entirely free of debt, very solid
and healthy.
Cash flow
The Group generated an operating cash flow of CHF +347.5 million, compared
to CHF +55.3 million in the previous year. The very strong cash flow is mainly due to high
volumes of sales, positive developments in the margins and a substantial decrease in net
working capital. The decrease in net working capital is mainly a result of the increase in customer
payments and an optimised management of inventories.
Cash flow from investing activities amounted to CHF +10.1 million, compared with
CHF (50.8) million in 2009. The merger with 3S Industries Ltd resulted in an increase in cash
and cash equivalents of CHF 46.9 million. The Group paid CHF 24.9 million in cash and
CHF 14.5 million by issuing shares of Meyer Burger Technology Ltd for the acquisition of the
remaining 34% participation in Hennecke Systems GmbH. Capital expenditure in property,
plant and equipment during 2010 reached CHF 13.3 million, net.
Cash flow from financing activities was CHF (53.6) million, compared with
CHF +48.9 million in 2009. Due to the positive development of the cash situation, the Group
repaid financial liabilities in a total amount of CHF 57.0 million during 2010.

Report FY 2010 Corporate Governance Financial Report Other Information
Currency risks
Meyer Burger Group recorded approximately 70% of its net sales in Swiss Francs
during fiscal year 2010. As major subsidiaries are located in Switzerland (MB Wafertec in
Thun; 3S Modultec and 3S Photovoltaics in Lyss; Pasan in Neuchâtel), a large proportion of
production is also based in the same country. Meyer Burger aims to achieve a high proportion
of its sales in the same currencies that the individual subsidiaries deliver their production
services, in order to limit currency risks as much as possible through a process of natural
hedging. To hedge against residual currency risks, the company uses forward contracts.
Meyer Burger does not hedge against foreign currency risks on the carrying amounts of foreign
subsidiaries or on the conversion of the earnings of foreign companies.
At constant exchange rates, net sales in fiscal year 2010 would have been approximately
CHF 12.9 million higher than in the previous year (average exchange rates of the
Euro and US Dollar declined by about 8.4% and 3.7%, respectively, compared with the previous
year).
Markets and customers
In general, the solar industry was considerably more robust in 2010 than during the
economically difficult year 2009. Global expansion in photovoltaic capacity in 2010 doubled
to over 15 GW compared with 7.2 GW at the end of 2009 (source: EPIA Global Market
Outlook for PV to 2014).
However, the dynamic growth in the photovoltaic sector varied between the individual
regional markets. In Asia, especially in the markets of China, India and South Korea, customers
recovered most rapidly from the previous year’s economic difficulties and were again
successful in securing the financing for various large projects at normal conditions. The clear
position of the Chinese government with its “Golden Sun” subsidies programme for solar
energy has given this market additional momentum ever since the programme, which plans
for 20 GW until the year 2020, was announced. In Europe, the largest manufacturers of crystalline
silicon solar cells are still to be found in Germany. The announced reductions of up to
15% for feed­in tariffs in Germany’s Renewable Energies Act (EEG) have not yet led to any
major decline in demand by end users. In general, capacities among German cell manufacturers
were also expanded during 2010.
Meyer Burger further developed its already strong market position in Asia and
Europe in 2010. Due to the sustained high levels in demand for Meyer Burger’s slicing and
sawing systems as well as for Hennecke’s measurement technologies and inspection systems,
the sales and customer­service organisation in China was further expanded. The fact
that customer proximity and an excellent after­sales service are key to generating and maintaining
customer satisfaction was confirmed by the “Supplier of the Year” award, which we
received in 2010 from Trina Solar, an internationally recognised manufacturer of mono­ and
multi­crystalline photovoltaic modules in China.
Net sales
by currency
in 2010
CHF 70%
EUR 22%
USD 6%
Other 2%
13

14
Logo Corporate Brand
Wafer sun
Claim
Brand
Meyer Burger Annual Report 2010
The Meyer Burger brand
Meyer Burger has a brand management strategy that conveys and embodies the
unique nature and characteristics of the technology group within its strategic business areas.
Following the merger with 3S Industries Ltd, the previously different brand images
of the individual subsidiaries were unified. Within its own brand architecture, Meyer Burger
has developed a new umbrella brand and a system of logos. The logo consists of three
elements – the brand image of a wafer sun, the corporate brand name and the brand’s
claim. The brand image is an arrangement of solar cells or wafers. The range of colours
of the wafer sun that depict the sun together with the corporate and technology
brand emphasise the corresponding corporate identity and the variety of industrial appli­
cations. Each subsidiary can thus have its own individual market appearance, while the
connection of the shared wafer sun logo identifies each company as forming part of the
Meyer Burger Group.
The new brand policy was launched in March 2010. The brand image and the corresponding
corporate brand names are trademarked throughout the world. The umbrella
brand Meyer Burger and the Group’s technology brands enjoy an excellent reputation and
high degree of recognition within the industry. Additional public relations and advertising
measures are used to further strengthen and underpin the brand recognition.
Production
In 2010, Meyer Burger’s production facilities once again achieved an excellent industrial
performance. At MB Wafertec in Thun, production output almost tripled in a year­on­year
comparison. Even compared with the previous record year 2008, the number of machines
manufactured in 2010 represented an increase of 57%. In December 2010, MB Wafertec surpassed
the 1,000­machine threshold for the first time in the company’s history. This achievement
was reached thanks to ongoing analysis and optimisation of the entire manufacturing
process. Ongoing analysis and optimisation is a day­to­day activity in our production facilities,
allowing MB Wafertec to increase its production output and reduce assembly lead time
as far as possible.
With modularised machine components, optimised logistics and assembly processes,
and increasing efficiencies throughout the production process, the time required to
handle an order for a wire saw from the start of a customer order through to being ready for
shipping is just four weeks. The lead time within the final assembly stage has been reduced
to five days. At the beginning of 2011, MB Wafertec is producing up to 35 sawing systems
per week. Our objective is to further expand capacities and raise production to up to 40 saws
per week in the short­term.
In the entire Meyer Burger Group, 1,421 machines and systems were produced in
2010, which represents an increase of 238% compared with the previous year.

Report FY 2010 Corporate Governance Financial Report Other Information
Innovation
As a globally active technology group, Meyer Burger views innovation as a core
element of its successful business strategy. With outstanding research and development,
the Group continuously sets new benchmarks for production methods and processes that
are used in photovoltaics.
In the wafering process, sawing technologies and systems with diamond wire have
undergone further development and improvements. The BrickMaster – a diamond­wire saw
specially developed by MB Wafertec to cut silicon blocks into process optimised brick shapes
– was successfully introduced in the market during 2010 and penetration in the high volume
markets of Asia was very positive. The qualification of the diamond wire for the core process
of wafering as well as the industrialisation of the diamond­wire­wafering process was pushed
by strong support of research and development within MB Wafertec. The success confirms
to Meyer Burger that our organisation supports the market with the right advanced technologies
such as the diamond wire technology and at the same time helps leading solar cell
manufacturers to reduce the total cost of ownership within the value chain of photovoltaics.
With the introduction of diamond wire for the wafering process, another technology of our
Group will develop into an important and recurring source of sales.
A further focus of innovation is in combining individual technologies along the value
added chain. With its comprehensive portfolio of technologies in wafering (MB Wafertec,
Diamond Materials Tech (Consumables), MB Robotics, Hennecke, AMB Automation), in solar
cells (Hennecke, AMB Automation, Solaris, Pasan), in solar modules (3S Modultec, Somont,
Pasan) and in solar systems (3S Photovoltaics), Meyer Burger Group is represented in the key
technology processes along the entire value chain of photovoltaics, and clearly distinguishes
itself from its competitors. In 2010, various sales activities for integrated systems within the
Group have led to joint customer contracts, particularly for MB Wafertec (saw technologies)
in combination with Hennecke (measurement and inspection systems), and between the
module line companies Somont (stringer systems), 3S Modultec (laminators) and Pasan (sun
simulating systems).
15

16
Planned new complex of
buildings of MB Wafertec in Thun.
Light grey:
2 nd stage of construction
Meyer Burger Annual Report 2010
Capital expenditure
Meyer Burger Group invested CHF 40.6 million in research and development
during 2010. This represents around 5% of net sales. Costs for research and development
are not capitalised in the balance sheet, but recognised as expenses in the income
statement. In total, 197 employees were engaged in research and development in the year
under review.
Capital expenditure in property, plant and equipment amounted to a gross amount
of CHF 16.5 million in 2010 (net: CHF 13.3 million). For 2011/2012, additional capital expenditure
of around CHF 50 million is expected, in connection with the first stage of construction for
the new headquarters in Thun (approximately half of the amount in 2011, the other half in
2012). In November 2010, Meyer Burger was granted the final building permit for this new
complex of buildings, and the ground­breaking ceremony was held in January 2011. The first
stage of construction will result in a production and office facility for 600 to 700 employees, on
a total land area of around 30,000 m2 . It is scheduled for completion and occupation by the
end of Q1, 2012. The design is based on the latest innovations in building construction and
energy management, and targets optimised energy efficiency. Meyer Burger has set itself the
goal of keeping energy consumption as low as possible, while also striving for a high energy
recovery. Once the entire building complex has been built and is in use for a longer period of
time, it will be possible to measure the achieved energy parameters, which will be the case for
the first time in 2013. The first stage of construction will take up around two thirds of the available
land area. The planning phase for the second stage of construction has already started
too.

Report FY 2010 Corporate Governance Financial Report Other Information
Risk management
Meyer Burger uses various risk management instruments to assess and manage
the strategic, financial and operational risks of the Group. The Board of Directors has primary
responsibility for evaluating strategic risks. Financial and operational risks are mainly assessed
by the Executive Board of Meyer Burger Technology Ltd. Regular risk reports are submitted
to the Board of Directors. Risk management is integrated within the company’s management
processes, and involves in particular, the areas of Planning, Finance & Controlling, Internal
Audit, Production & Logistics, Research & Development, Product Management, Sales, IT,
Corporate Communications, Human Resources, and external tax and legal consulting. Occupational
safety is of core importance to Meyer Burger. Through careful analysis of operating
procedures and the provision of employee training, the Group minimises risks and achieves
a high degree of process safety. Occupational safety as a topic is covered in detail on page
33 of this Annual Report. For more detailed information on financial risk management, please
see Note 3 on page 93ff, in the financial statements.
Targets and outlook for 2011
The long­term trend in favour of renewable sources of energy will be sustained. The
solar industry will continue to enjoy strong growth, and will make a key contribution in the
future to providing an efficient, non­polluting source of energy for the world. The industry still
faces the challenge of making further cuts to the cost of solar electricity so that the aim of grid
parity can be achieved as quickly as possible. The technologies developed by Meyer Burger
Group will contribute to this process.
With its extraordinarily strong presence in Asia and Europe, Meyer Burger is able to
profit from the substantial expansion of photovoltaic capacities. With a healthy order backlog
of about CHF 1,050 million, the company has made a very positive start into fiscal year 2011.
Assuming that the economic conditions will remain relatively stable and that our customers
will be able to carry out their expansion plans without major disruption, we anticipate net
sales for 2011 of approximately CHF 1.2 billion and an EBITDA margin of around 20%.
17

18
Our focus
Photovoltaics
Lean organisation,
decentralised management
Fast
decision-making
Meyer Burger Group Strategy
Market leadership along the value chain in photovoltaics
Meyer Burger is a world leading specialist in innovative systems and processes for
cutting and handling crystalline and other high­grade materials. With its precision products
and technologies, the Group has made a name for itself as an international premium brand in
the photovoltaic industry. Our range of products and services covers the entire value chain in
photovoltaics, including the production processes of wafering, solar cells, solar modules and
solar systems. Our focus on the entire value chain enables us to develop technical innovations
and align products and technologies in such a way that our customers’ manufacturing
costs and their cost of ownership will be reduced continuously.
The four pillars of our corporate strategy
Solutions provider
Our thinking as well as our research and development efforts, are focused on systems and
processes. This allows us to continually set new standards for production processes in the
photovoltaics industry. We offer our customers integrated systems and dedicated solution
packages. We implement customer specific process control and supervising systems that
span across different processes. By combining our process know­how and close customer
process support with our service­oriented machinery and systems business and our logistics­driven
consumables business, we provide substantial added value for our customers.
Technological leadership
We take an active part in shaping the industrial processes of the future and setting standards
in the photovoltaics industry. At the same time, we evaluate and implement new technologies
that can be used to achieve additional economies of scale, thus reducing the cost of ownership
for our customers and the costs per kWh for solar power.
Ahead of the market
The market drives our product offering. We reach fastest time to market. We follow a consistent
approach of optimising the level of modularisation and offering the best in terms of logistics
for machinery and systems. Modularisation reduces the number of components used,
which in turn optimises production time and costs and, combined with efficient logistics,
leads to reduced production throughput times. We continually strengthen our service network,
by expanding our range of value added services.
Lean organisation
Meyer Burger is an innovative and modern employer, with a corporate culture characterised
by openness. Our streamlined organisational structure and short decision­making paths
serve to promote an understanding of personal and corporate responsibility of the management
and the workforce as a whole. The companies in our Group assume responsibility as
centres of excellence for their technologies. Our decentralised corporate structure allows us
to achieve the highest levels of flexibility and profitability. With a strict vertical financial management,
combined with horizontal interlinkage of competencies, we optimise our own
resources.
Meyer Burger Annual Report 2010

Report FY 2010 Corporate Governance Financial Report Other Information
Our Global Presence
Meyer Burger companies
USA
Colorado Colorado Springs; New Jersey Columbia; Oregon Hillsboro
Europe
Switzerland Baar, Lyss, Neuchâtel, Thun; Germany Langenfeld, Langweid, Umkirch, Wurzen, Zülpich;
Norway Porsgrunn; Spain Barcelona
Asia
China Shanghai; India Pune; Japan Tokyo; Korea Seoul; Singapore Singapore; Taiwan Taoyuan County
19

20 Meyer Burger Annual Report 2010
Core Competences of Meyer Burger Group
Wafering
Thinnest wires cut thinnest solar wafers
MB Wafertec specialises in cutting technologies and processes for hard and brittle materials.
Band, cropping and wire saws are used to cut high­grade silicon, sapphire or other crystals
into ultra­thin wafers, prisms and other shapes. Our machines meet the highest quality
require ments with each single cut. Reliable cutting processes with 140 to 200 μm wire guar­
antee mass production in the photovoltaics industry. MB Wafertec’s advanced wire saw tech­
nologies already qualify for wire strength ranging from 100 to 120 μm today.
Diamond wire technology for bricking and wafering
Diamond Wire develops and produces diamond wire that is used for cutting multi­crystalline
silicon ingots into solar bricks and in a follow­up process cutting them into ultra­thin solar
wafers. From a commercial and technological perspective, the technology represents a highly
attractive alternative to the widely established slicing method using steel wire and slurry
(a dispersion made of SiC and PEG). The use of diamond wire in cropping and wire saws shall
enable customers to reach a significant increase in their production capacities.
Fast and efficient brick/wafer handling and separation
MB Robotics develops and implements customised solutions in the area of robotic handling
systems. MB Robotics optimises cost­ and quality sensitive processes of automated single
processes up to fully automated process lines. AMB Automation develops advanced wafer
handling and automation technologies. With AMB systems, it becomes possible to process
and transport ultra­thinly cut wafers in a fast and efficient way, without any damage to the
wafers. This can secure over 1.35 million solar wafers per year.
Precise wafer quality inspection, feeding and sorting
Hennecke specialises in optical and electrical precision measuring technology for solar
wafers. The measuring equipment examines the quality of wafers in terms of thickness, edge
defects, geometry, saw marks, sori, bow non­visible micro­cracks/inclusions and stain. Premium
measurement devices enable an optimal quality control of solar wafers.

Report FY 2010 Corporate Governance Financial Report Other Information 21
Solar cells
Quality assurance und measurement
The inspection modules of Hennecke and the wafer handling solutions of AMB Automation
are also used in the cell production process. Pasan offers cell­testing and ­sorting equipment
for the most precise performance measurement of solar cells. Even the slightest increase in
accuracy of the performance measurement has a significant influence on the profitability of a
cell manufacturer.
Highest performance and quality in cell connection
Somont offers string soldering machines for cell connections, with integrated testing equipment,
lay­up systems and fully automated interconnection worldwide. The company guarantees
the highest and scalable throughput of cells of 4,900 cells per hour through very flexible
automation grades and maximum uptimes. Cell connection is a critical production process,
as it determines the duration of the electrical output of the solar module.
Reliable soft-touch soldering process
Somont enables cells to be handled exceptionally gently with its specially developed string
soldering machines and the established soft­touch soldering process. The machine types
RAPID and CERTUS can process and solder precisely and reproducible all common types
and sizes of solar cells.
Homogenous uniformity of coating process
The Solaris system, a strategic marketing and distribution cooperation with Oerlikon Systems,
uses innovative coating technology in an efficient and precise way. In the anti reflective
coating process Solaris offers a “silane free” alternative.
Easy operation and maintenance
The Solaris system can typically be put into operation at the customer’s production facility
within one week. The multi­source sputtering chambers can be changed by a single person
(operator) within minutes, an advantage over other systems.

22 Meyer Burger Annual Report 2010
Solar modules
Integrated production lines from a single source
3S Modultec is the technological world leader in laminating. During the laminating process,
an interconnection takes place whereby the solar cells are encapsulated between a covering
glass plate and a back sheet, made of glass or foil. This protects the solar module from
weathering and is therefore critical to ensuring that the modules longevity is increased. Our
laminating lines meet the most stringent demands placed on the laminating process. 3S
Modultec integrates the various machines into entire production lines with different automation
grades for the production of solar modules. 3S Modultec production lines are modular in
their assembly design and can be expanded with a minimum of interruption in manufacturing
and at lowest costs. The flexible 3S­Modultec­line­assortment – combined with certification
support and comprehensive process training – are the basis for a project handling within the
shortest period of time.
The industry standard in performance measurement
Pasan develops and produces testing systems for solar cells and modules. For certified quality
assurance, testing of each worldwide produced module is part of the tests done by solar
module manufacturers. The testing process is decisive with regard to the pricing of the individual
module and therefore for the revenues of a module producer. Pasan testers have a
unique light uniformity on the illuminated surface, outstanding light stability during the flash
and an unmatched spectral correlation with sunlight. With such high standing quality, Pasan
testers achieve top precision in the simulation of sunlight and are deployed by leading European
test institutes such as the ESTI, the European Solar Test Installation, Italy, Fraunhofer
ISE Freiburg, and TÜV Rheinland in Cologne, both in Germany. Through this excellence in
know­how and certification, customers can save up to 6 months in time to market when
introducing a new product – winning time for the benefit of our customers.

Report FY 2010 Corporate Governance Financial Report Other Information 23
Solar systems
State-of-the-art technology for building-integrated PV systems
3S Photovoltaics develops and produces building­integrated solar systems, and has become
a specialist in solar modules for roofs, façades and shading solutions. The unframed solar
modules enable large­scale solar energy systems which can be integrated into a building’s
shell to create a highly aesthetically and pleasing overall look. The offer can be adjusted to
particular customer needs – customised module sizes and special designs – for example in
case of major building projects or ancient objects that are under preservation.
Intelligent solutions for every building
The solar systems of 3S Photovoltaics replace traditional roof tiles, when used as in­roofsolutions.
They are also used in façades, overhead glazing, porch roofs, balcony cladding
and other special constructions, where an active energy production using the sun’s strength
is being sought. With more than 20 years of experience in highly prestigious PV projects, be
it tourist buildings in high alpine locations, plus­energy­houses, public buildings such as
nursery schools or campus facilities, 3S Photovoltaics enables projects for environmentally
attractive buildings in the countryside as much as high­tech projects and tests for a future
CO2­free mobility. Technology made in Switzerland for a long­term, high energy yield.

© Solar Impulse / Jean Revillard

Solar Impulse – a contribution to the future
Solar Impulse, the solar airplane project of André Boschberg and Bertrand
Piccard, is aiming to circumnavigate the globe. Without fuel, day and night.
People are fascinated by great adventures and want to share the dreams of
pioneers and explorers. Solar Impulse aims to use currently available technologies
to unite this passion for adventure with positive and sustainable emotions related to
renewable energy. Public attention must be drawn to the fact that changes need to
be made if we are to ensure the energy requirements and environmental future of
our planet.
In July 2010, the first day and night flight took place with a flight time of over
26 hours. Solar Impulse thus achieved its first goal and demonstrated what can
already be accomplished using alternative energy sources such as solar energy
when combined with new technologies and applications.
Solar Impulse represents the true potential of
alternative energy sources
3S Modultec, a member of Meyer Burger Group, supports Solar Impulse as a special-
ist in the integration of solar cells into powerful solar modules. We are proud to be
part of this fantastic project and adventure and to be able to use our expertise to
support the circumnavigation of the globe in a solar plane.

A community building for livestock in Melchnau – future-oriented,
building-integrated solar technology
The project combines state-of-the-art solar technology and attractive
architecture with a private initiative and national networking.
The newly constructed agricultural building in Melchnau is equipped with
a photovoltaic system which is perfectly integrated into the roof of the building.
The implementation of the facility was made possible through the collaboration of
various local and national partners. For farmers, the use of solar power represents
an important continuation of their tradition of a sustainable subsistence strategy
that is in tune with nature, while opening up new sources of revenue through the
sale of solar electricity. With an installed capacity of 264 kWp, the plant produces
approximately 250,000 kWh of solar electricity each year, enough to supply around
65 households.
Solar technology combining modern trends
with tradition
The pioneering project in Melchnau near Langenthal in the canton of Berne combines
technological advances in solar power technology with the agricultural tradition
of living in harmony with nature.

28
Sustainability
As a globally active technology group, Meyer Burger has focused its long­term
industrial and social commitment on the various internal and external stakeholders. Our aim
is to further develop our company on a successful and sustainable basis.
We are a reliable partner to our customers, suppliers, employees and trainees, as
well as to our shareholders and the public.
Our values
We are committed to acting ethically and responsibly.
Sustainability
We focus on achieving sustainable profitability and growth. We work in harmony with the
environment and adhere to core social values.
Long-term loyal partnership
Our actions, both within the Group and in terms of our relationships with our suppliers,
customers and business partners, are marked by loyalty and respect. We strive for a trusting
and target­oriented cooperation.
Creativity and innovation
We are innovative and set new benchmarks in our markets. We combine innovation with
competitiveness, customer benefits, consistent quality and long­term reliability.
Code of Conduct
In its Code of Conduct, Meyer Burger has constituted rules that govern interactions
with people inside and outside of the Group. All of our employees throughout the world are
bound by this Code of Conduct. Meyer Burger is committed to equal opportunities, an open
and friendly working environment, transparency and respect.
We regard team spirit and individual responsibility as key elements for good, sustainable
corporate development. The company fights all forms of discrimination and adheres
strictly to the national and international legislations that are relevant to the Group.
The Code of Conduct contains principles and guidelines on cooperation within Meyer
Burger Group, on equality of opportunity for our employees, against mobbing or harrassment
in the workplace, on behaviour in respect of contracted partners and customers, on the confidentiality
of business secrets and information, and on obligations to report any kind of abuse.
In the event of uncertainty or doubt, line managers, the Code of Conduct Officer or a member
of the Executive Board may be approached for advice or support at any time.
For the Board of Directors and the Executive Board, this Code of Conduct and strict
compliance with the guidelines are of paramount importance. For this reason, in 2007 the
Board of Directors appointed the company’s Chief Financial Officer, Michel Hirschi, as the
direct Code of Conduct Officer.
Meyer Burger Annual Report 2010

Report FY 2010 Corporate Governance Financial Report Other Information
Environment
Through the involvement in the value chain of photovoltaics, our Group is closely
tied to the ecological benefits of using solar cells as a source of electricity and energy. In our
production processes, we take care not to use hazardous substances or pollutants, wherever
possible. During fiscal year 2010, the electricity consumption of the entire Group amounted
to 9.1 million kWh.
On 10 January 2011, we were able to celebrate the ground­breaking ceremony
for the new corporate headquarters of MB Wafertec in Thun. This site will comprise a
newly constructed production and office facility for 600 to 700 employees. Construction of
the first stage is scheduled for completion by the end of Q1 2012. The design is based on the
latest innovations in building construction and energy management, and targets most optimised
energy efficiency. In comparison with the currently leased manufacturing and office
facilities, which are spread over 15 different buildings throughout the region, we anticipate
that the new site will lead to a significant reduction in our average energy consumption from
2013 onwards. The basic objective is to keep energy consumption as low as possible, while
also striving to recover as much energy as we can. We will set precise targets for the site at
the end of 2012, once the buildings have been completed and are in use.
Social role as an employer
Meyer Burger provides a technological and creative working environment. In the
past four years, our company has grown from a pure specialist of highly innovative sawing
machines with annual sales of CHF 83 million and 284 employees in 2006, to a global technology
group with sales of CHF 826 million and 1,276 employees (FTE) in 2010. This tremendous
growth presents our Group and our staff with new challenges, for example in rapid adjustment
to changing corporate structures, increased production output, improvements to
our products through research and development, and in training and continuing professional
development.
However, the dynamic growth also opens up new opportunities and horizons. We
foster a corporate culture in which everyone can make a personal contribution. Our company
thrives from the pioneering spirit, creativity and outstanding commitment of our staff. Our
streamlined organisational structure and short decision­making paths serve to promote a
common understanding of personal and entrepreneurial responsibility on the part of management
and the workforce as a whole.
We want to be an employer that attracts outstanding talents from the market. We
offer our employees fair and competitive salaries, good social benefits, and promote targeted
training and development. Our corporate culture is characterised by technology, openness,
transparency, team spirit and responsibility.
29

30
Development of personnel
since 2007
Number of employees (FTEs)
1400
1200
1000
800
600
400
200
0
2007
2008
2009
2010
More than 1,500 employees
More than 1,500 people were working on innovative products and solutions at our sites
across the world, at the end of 2010. The number of employees on permanent contracts rose
by around 73% year­on­year, to a total of 1,311 people (1,276 FTEs). Of these, 311 FTEs were
added by the merger with 3S Group at the beginning of January 2010 and the takeover of
the SGS companies in the USA in November 2010. The remaining 227 positions were newly
created jobs, mainly in production, research and development, and in the after­sales services
in our service companies.
In order to avoid capacity constraints in production and logistics, we also hired an
increasing number of temporary staff during the second half of 2010. In addition to its permanent
workforce, as of 31 December 2010, the Group also employed 225 people on a temporary
basis (year­end 2009: 10 temporary employees).
Workforce
Meyer Burger Annual Report 2010
Employees (FTEs) 2010 2009 2008 2007
Total at year-end
1 276 738 630 379
Production, Logistics 654 370 360 224
Research, Development 197 137 95 56
Sales, Services 299 156 125 71
Finance, Administration 126 75 50 28
Training and Personnel Development
The sustainable and systematic development of our employees’ occupational skills is a core
focus of our Human Resources policy. We firmly belief that this approach also allows us to
strengthen the competitive position of our company. In order to be able to enhance our
employees’ full potential, we put great value to continuing professional development. We
support a broad range of in­house and external training opportunities, ranging from apprenticeship
training courses to individually tailored management seminars and vocational training
programmes. On­the­job training is another important instrument of our personnel development
programme.
Meyer Burger has been active in basic vocational training under the various systems
that exist in different countries and has been training young people in commercial careers
and, in particular, in technical vocations for many years. We offer internships to students from
the Swiss Federal Institute of Technology (ETH) and universities, to give them their first experiences
of working in the industry. In 2010, the Group companies based in Switzerland offered
34 vocational training places; two further apprenticeships were offered by subsidiaries in
Germany. In Switzerland, trainees make up 5% of the total workforce. These apprenticeships
were spread over four occupational groups—fitter, automation mechanic, design engineering
and commercial. In 2010, we received approval to add apprenticeships in IT and logistics to
these four groups. This means that in the current reporting period 2011, we are able to offer
apprenticeships in six different training professions and trades in Switzerland.

Report FY 2010 Corporate Governance Financial Report Other Information 31
Employees

32
Employee structure
by region
in 2010
Switzerland 51%
Europe (excl. Switzerland) 22%
Employees
in 2010
Male 85%
Female 15%
Asia 10%
USA 17%
Talent Management
A key strategy in our HR policy is to fill vacancies in key leadership and management posi­
tions with internal candidates, wherever possible. We support this training of the next gener­
ation of managers with our own specific management development process. In 2010, 82%
of all senior management vacancies (Executive Managements in the subsidiaries) were filled
by internal candidates.
Management training
During 2010, we conducted several leadership workshops and management development
seminars for the benefit of our managers. About 100 managers throughout the Group participated
in two separate leadership workshops in April and September. The aim of these seminars
was to strengthen a shared management culture within Meyer Burger and to improve
the skills of our managers at all levels. The interconnection of our various group companies –
as a key factor for the success of Meyer Burger – was a further priority in the second workshop.
Long-term partnerships with customers and suppliers
The commercial success of Meyer Burger Group is based on the confidence of our
customers and on supplier relationships that are nurtured on a foundation of partnership. Our
technology companies have earned the confidence of their customers through the reliability
of their products, high standards of quality, excellent services and personal relationships
based on fairness.
Our focus on the entire value chain in photovoltaics means that we can continuously
develop technical innovations and align products and technologies at the different
process stages in wafer, cell and module production in such a way that our customers’
manu facturing costs and their cost of ownership are continually reduced.
To ensure the expansion of our production capacities, we are reliant on timely deliv­
eries of pre­fabricated components and on the integration of our key suppliers into our
internal logistics processes. Therefore, we also strive to maintain open communication chan­
nels with our suppliers, and to develop long­term business relationships based on mutual
partnership.
Meyer Burger Annual Report 2010

Report FY 2010 Corporate Governance Financial Report Other Information
Occupational safety, quality management
Occupational safety, accident prevention in the workplace and looking after our
employees’ health is very important to us. Meyer Burger has issued clear safety rules for visitors
and employees in its production and logistics operations. Our staff receive regular training
in accident prevention, and are provided with written documentation and the opportunity
to attend information events. In production and logistics environments, we provide employees
with specific training for dealing with cranes, fork­lifts and special tools that are used in
the process of packing machinery for shipping, such as nail guns for example.
In addition to providing every employee with thorough instruction, we also carry out
regular safety reviews so that any potential hazards can be detected at an early stage and
eliminated without delay. Thanks to this comprehensive approach to health and safety, Meyer
Burger Group once again recorded an exceptionally low figure of 0.72% (2009: 0.98%) for
absences caused by occupational accidents in 2010 (measured as a proportion of total output).
The entire Meyer Burger Group operates on the basis of high quality standards, as
reflected in its products, services and solutions. By means of clearly defined quality management,
our Group companies ensure that we can fulfil our customers’ requirements in terms
of product safety and deadlines. Workflows and structures are updated regularly and documented
accordingly, with employees having direct access to those documents at all times.
The largest subsidiary in terms of production, MB Wafertec, has integrated occupational
health and safety into its management system, and has been awarded certification of
compliance with OHSAS 18001:2007 (Occupational Health and Safety Management System)
and ISO 14001:2007 (Environmental Management). In addition, MB Wafertec, 3S Modultec
and 3S Photovoltaics are all certified as compliant with ISO 9001:2008 (Quality Management).
33

34
Milestones
2010 Acquisition of SGS Slicing Solutions, Inc., Colombia, New Jersey, USA, and of SGS
Machine Tool, LLC, Hillsboro, Oregon, USA, two long­standing strategic sales and service
partners, by means of an asset purchase agreement
Acquisiton of the remaining 34% share capital of Hennecke (Hennecke Systems GmbH)
Merger with 3S Industries Ltd, the leading provider of manufacturing equipment and
entire production lines for the manufacturing of solar modules, with its centres of excellence
3S Modultec (laminating), Somont (electrical cell connection, soldering process),
Pasan (testing and measuring of solar cells and modules) and 3S Photovoltaics (solar
systems for façades, roofs, shading).
2009 Market launch of the BrickMaster for cutting multi­crystalline silicon ingots into square
bricks
Acquisition of business activities of Diamond Wire (Diamond Materials Tech, Inc.,
Colorado Springs, USA − producer of diamond wire)
Acquisition of the remaining 49% share capital of AMB Automation (AMB Apparate +
Maschinenbau GmbH)
Strategic cooperation with OC Oerlikon Balzers Ltd for the distribution and further development
of the Solaris systems used for the coating of crystalline solar silicon cells
2008 Acquisition of majority participations in Hennecke (Hennecke Systems GmbH – precision
measurement and sorting systems for solar wafers) and AMB Automation (AMB
Apparate + Maschinenbau GmbH − wafer handling and automation technologies)
2007 Market launch of a fully automated and integrated brick line for mono­crystalline and
multi­crystalline silicon bricks
2006 Holding name changed to Meyer Burger Technology Ltd, incorporated in Baar, Switzerland
Initial Public Offering on 23 November 2006 on SIX Swiss Exchange
2005 Market launch of wire saw DS 264
Joint venture with SiC Processing (Wuxi) Ltd., Wuxi, China
Meyer Burger Annual Report 2010
2004 Market launch of band saw with rotating clamping table BS 805 for solar industry and
of wire saw DS 265
2003 Market launch of diamond wire saws in cooperation with Diamond Wire (Diamond Wire
Technology, Inc.), USA
Foundation of subsidiaries in China and Japan, positioning in the Asian markets
Entering the Russian market through agreement with sales agent High Tech Solutions,
Moscow
Entering the Asian and American markets through cooperation with SiC to ensure
slurry­recycling supply of Meyer Burger customers

Report FY 2010 Corporate Governance Financial Report Other Information
2002 Launch of wire saw DS 261, specially targeted at 12’’ semiconductor industry
Further development of band saw BS 800 into BS 801
2000 Market launch of the first wire saw DS 262, which was specifically targeted at the solar
industry
1999 Incorporation of Meyer & Burger Holding Ltd, incorporated in Zug, Switzerland
Market launch of the first band saw BS 800 for solar industry and of wire saw DS 261
for semiconductor industry
1998 Development of band saw for wafer mass production
1992 Market launch of ID saw TS 207
1991 Market launch of wire saw DS 260
1985 Market launch of OD saw TS 121
1980 Development of a saw based on wire saw technology
1977 Market launch of ID saw TS 23
Starting 1970 Development of ID saw and start of cutting of silicon wafers for the semiconductor
industry
1960 Market launch of OD saw TS 3
1953 Foundation of Meyer & Burger Ltd
35

36 Meyer Burger Annual Report 2010
Corporate Governance
Meyer Burger is fully committed to good Corporate Governance.
The Company relies on the recommendations of the Swiss Code of Best Practice for Corporate
Governance by Economiesuisse and adheres to the standards of the directive on
information relating to Corporate Governance by SIX Swiss Exchange, if applicable and
significant to Meyer Burger.
1. Group structure and shareholders
1.1 Group structure
Meyer Burger Technology Ltd (subsequently referred to as “the Company”) is a holding com­
pany organised in accordance with Swiss law and holds all companies belonging to the
Meyer Burger Group either directly or indirectly.
Meyer Burger Group is a leading and globally active technology group specialising in innovative
systems and processes for cutting and handling crystalline and other high­grade mate r­
ials. With its products and services, the Group covers different parts of the value chain in the
solar (photovoltaic), semiconductor and optical industries. Until 14 January 2010, the Group
was operationally managed by the Executive Board (Chief Executive Officer, Chief Financial
Officer).
The Executive Board was extended as part of the merger between Meyer Burger Technology
Ltd and 3S Industries Ltd on 14 January 2010 (date of the Extraordinary Meeting of Shareholders).
The operational Group structure is organised according to different areas of responsibilities
of each member of the Executive Board. These responsibilities apply across the
entire Group and on a global basis.
− Chief Executive Officer
Overall Operational Management, Strategy, Marketing & Sales, Corporate Communication,
Human Resources
− Chief Financial Officer
Finance, Group Controlling, Treasury, Mergers & Acquisitions, Investor Relations,
Tax & Legal, Group IT
− Chief Technology Officer
Management Research & Development, Deputy CEO
− Chief Innovation Officer
Planning, Technology Development along process chain, Control and Organisation
of business processes

Report FY 2010 Corporate Governance Financial Report Other Information 37
1.2 Listed company
The shares of Meyer Burger Technology Ltd, headquartered in Baar, Switzerland, are listed
on SIX Swiss Exchange (Valor­No. 10850379, ISIN­No. CH0108503795). The ticker symbol
is MBTN. Meyer Burger Technology Ltd held 45,521 treasury shares as of 31 December
2010. None of the other consolidated group companies held any shares in Meyer Burger
Technology Ltd. The market capitalisation of the Company reached CHF 1,328.8 million as of
31 December 2010.
1.3 Non-listed companies
The scope of consolidation includes non­listed companies, which are listed on page 80 in the
financial section of this Annual Report.
1.4 Significant shareholders
The Company is aware of the following shareholders, who according to Article 20 SESTA
(Stock Exchange Act) held more than 3% of the voting rights based on the outstanding share
capital as of 31 December 2010:
Shareholder Voting rights
Credit Suisse Asset Management Funds AG, CH­Zurich
> 3%
Gerhard Knoll, DE­Umkirch 1 > 3%
Peter Pauli, CH­Möhlin 1 3.60%
Swisscanto Asset Management AG, CH­Zurich > 3%
The Capital Group Companies, USA­Los Angeles/CA > 3%
Vontobel Fonds Services AG, CH­Zurich > 5%
1 incl. employee shares in vesting period and employee options held
Disclosure of shareholdings by various shareholders in accordance with Article 20 SESTA
during fiscal year 2010:
– Eiger Investments, LLC (previously Diamond Wire Technology, LLC), USA­Colorado Springs
Going below the 3% threshold limit as of 15 January 2010, as a result of the capital
increase in conjunction with the merger between Meyer Burger Technology Ltd and 3S
Industries Ltd (disclosed participation 2.1975%).
– W+S Maschinenbau GmbH, DE­Freiburg
Exceeding the 3% threshold limit as of 15 January 2010, as a result of the merger between
Meyer Burger Technology Ltd and 3S Industries Ltd (disclosed participation 3.266%).
Going below the 3% threshold limit as of 6 May 2010, as a result of sale transactions (disclosed
participation < 3%).
– Peter Pauli, CH­Möhlin
Going below the 5% threshold limit as of 15 January 2010, as a result of the capital
increase in conjunction with the merger between Meyer Burger Technology Ltd and 3S
Industries Ltd (disclosed participation including employee options held 4.1%).
Market capitalisation CHF
1,328.8 M

38 Meyer Burger Annual Report 2010
– Swisscanto Asset Management AG, CH­Zurich
Exceeding the 3% threshold limit as of 15 January 2010, as a result of the merger between
Meyer Burger Technology Ltd and 3S Industries Ltd (disclosed participation 3.11%).
– Gerhard Knoll, DE­Umkirch
Exceeding the 3% threshold limit as of 15 January 2010 through holding by Ernst Knoll
Feinmechanik GmbH, DE­Umkirch (controlled by Gerhard Knoll), as a result of the merger
between Meyer Burger Technology Ltd and 3S Industries Ltd (disclosed participation
including employee options held 3.83%).
– Meyer Burger Technology Ltd, CH­Baar
Sale position of over 3% due to outstanding employee options (disclosed sale position
3.95%). Employee options were granted in different years since 2006. The disclosure
notice was filed on 21 July 2010.
– Credit Suisse Asset Management AG, CH­Zurich
Exceeding the 3% threshold limit as of 17 September 2010, as a result of purchase trans­
actions (disclosed participation 3.26%).
– Vontobel Fonds Services AG, CH­Zurich
Going below the 5% threshold limit as of 14 October 2010, as a result of sale transactions
(disclosed participation 4.9958%). Exceeding the 5% threshold limit as of 20 October
2010, as a result of purchase transactions (disclosed participation 5.018%).
– The Capital Group Companies, Inc., USA­Los Angeles/CA
Exceeding the 3% threshold limit as of 27 October 2010, as a result of purchase transactions
(disclosed participation 3.0261%).
Details to the individual disclosure notices mentioned above are available on the website of
SIX Swiss Exchange under the direct link
http://www.six­swiss­exchange.com/shares/companies/major_shareholders_en.html
1.5 Cross-shareholdings
Meyer Burger Technology Ltd does not have any cross­shareholdings with other companies
as of 31 December 2010.

Report FY 2010 Corporate Governance Financial Report Other Information 39
2. Capital structure
2.1 Capital structure as of 31 December 2010
Ordinary share capital CHF 2 279 236.15 (registered in the commercial register: CHF 2 257 956.00)
45 584 723 fully paid­in registered shares with a nominal value of CHF 0.05 each
(registered in the commercial register: 45 159 120 registered shares)
Conditional share capital CHF 181 232.35 (according to Articles of Association: CHF 202 512.50)
3 624 647 registered shares with a nominal value of CHF 0.05 each for exercising
of option rights granted to employees and members of the Board of Directors of the
Company or of group companies (according to Articles of Association:
CHF 4 050 250 registered shares)
CHF 200 000.00
4 000 000 registered shares with a nominal value of CHF 0.05 each
for exercising of conversion and/or option rights in conjunction with convertible
bonds, bonds with option rights or similar financial market instruments of the
Company or of group companies
Authorised share capital CHF 225 000.00
4 500 000 registered shares with a nominal value of CHF 0.05 each
issuance possible until 29 April 2012
2.2 Conditional share capital
In accordance with Article 3b of the Company’s Articles of Association, dated 29 April 2010,
the share capital may be increased by a maximum amount of CHF 202,512.50 by means of
the issuance of no more than 4,050,250 fully paid­in registered shares with a nominal value
of CHF 0.05 each, by virtue of the exercise of option rights granted to employees and members
of the Board of Directors of the Company or of group companies in accordance with a
plan to be worked out by the Board of Directors. The preferential rights of the shareholders
shall be excluded.
In accordance with Article 3c of the Company’s Articles of Association, dated 29 April 2010,
the share capital may be increased by a maximum amount of CHF 200,000.00 by means of
the issuance of no more than 4,000,000 fully paid­in registered shares with a nominal value
of CHF 0.05 each, by virtue of the exercise of conversion and/or option rights in conjunction
with convertible bonds, bonds with option rights or similar financial market instruments of the
Company or of group companies.
The preferential rights of the shareholders shall be excluded in connection with the issuance
of convertible bonds, bonds with option rights or other financial market instruments, which
carry conversion and/or option rights. The then current owners of conversion and/or option
rights shall be entitled to subscribe for the new shares.
The acquisition of shares through the exercise of conversion and/or option rights and each
subsequent transfer of the shares shall be subject to the restrictions set forth in Article 4 of
the Articles of Association (in reference to limitations for registration in the share register).

40 Meyer Burger Annual Report 2010
The Board of Directors may limit or withdraw the right of the shareholders to subscribe in pri­
ority to convertible bonds, bonds with option rights or similar financial market instruments
when they are issued, if:
1) the financial market instruments with conversion or option rights are issued in conjunction
with the financing or refinancing of the acquisition of an enterprise or parts of an enterprise
or with participations or new investments of the Company; or
2) an issue by firm underwriting by a bank or a consortium of banks with subsequent offering
to the public without preferential subscription rights seems to be the most appropriate
form of issue at the time, particularly in terms of the conditions or the time plan of the
issue.
If advance subscription rights are denied by decision of the Board of Directors, the following
shall apply:
1) conversion rights may be exercisable only for up to 10 years, option rights only for up to
7 years from the date of the respective issuance; and
2) the respective financial market instruments must be issued at the relevant market conditions.
2.3 Authorised share capital
In accordance with Article 3a of the Articles of Association, dated 29 April 2010, the Board of
Directors is entitled to increase the share capital of the Company by not more than CHF
225,000.00 until 29 April 2012 by virtue of the issuance of a maximum of 4,500,000 registered
shares with a nominal value of CHF 0.05 each.
The Board of Directors is entitled to limit or exclude the advance subscription rights of the
shareholders and allocate them to third parties, if the new shares are to be used:
1) for the acquisition of enterprises, parts of enterprises, participations or new investment
plans;
2) for the financing or refinancing of the acquisition of enterprises, parts of enterprises, participations
or new investment plans; or
3) for the placement of shares in the capital market.
Shares, for which advance subscription rights have been granted but not exercised, should
be used in the interests of the Company.
The increase can take place by means of a firm underwriting and/or in partial amounts. The
Board of Directors is entitled to set the issue price of the shares, the type of contribution, as
well as the date of entitlement to dividends. Shares issued under these terms are subject to
limitations for registration in the share register in accordance with Article 4 of the Articles of
Association of the Company.

Report FY 2010 Corporate Governance Financial Report Other Information 41
2.4 Changes in capital over the past three reporting years
in TCHF 31.12.2010 31.12.2009 31.12.2008
Share capital
2 279 1 605 1 513
Capital reserves 175 276 89 141 51 920
Reserve for treasury shares 574 – –
Profit 51 930 34 293 1 715
Total equity 230 059 125 039 55 148
2.4.1 Changes in capital during 2010
In conjunction with the successful conclusion of the merger with 3S Industries Ltd, the
Extraordinary Meeting of Shareholders held on 14 January 2010 approved a share split in a
ratio of 1:10 and an ordinary increase in the share capital. The Board of Directors decided to
implement the share capital increase of CHF 625,231.20 to CHF 2,229,763.70 (capital as in
the commercial register) directly after the shareholders meeting.
In the time span between 1 January – 14 January 2010, 1,550 employee options (after the
share split on 14 January 2010: 15,500 options) were exercised and the ordinary share capital
therefore increased by CHF 775.
The capital increase was determined by the Board of Directors on 4 February 2010 and
r egistered with the commercial register. As of 4 February 2010, the ordinary share capital of
the Company amounted to CHF 2,230,938.70 (44,618,774 registered shares with a nominal
value of CHF 0.05 each). The conditional capital amounted to CHF 202,512.50 (4,050,250
registered shares with a nominal value of CHF 0.05 each) for exercising of option rights
granted to employees and members of the Board of Directors, and to CHF 150,000.00
(3,000,000 registered shares with a nominal value of CHF 0.05 each) for exercising of conversion
and/or option rights in conjunction with convertible bonds, bonds with option rights
or similar financial market instruments. The authorised capital amounted to CHF 188,500.00
(3,770,000 registered shares with a nominal value of CHF 0.05 each). Further details to
the capital structure after the merger are available on page 30 of the Annual Report 2009.
The Report is available on the Company website under: http://www.meyerburger.com/en/
investor­relations/financial­reports/archive/
In conjunction with the successful conclusion of the purchase contract for the remaining 34%
participation in Hennecke Systems GmbH, the Company issued 540,346 registered shares
on 22 April 2010 out of the existing authorised share capital at that time. The ordinary share
capital increased by CHF 27,017.30 to CHF 2,257,956.00 (45,159,120 registered shares with
a nominal value of CHF 0.05 each). At the same time, the authorised capital decreased by the
corresponding amount of CHF 27,017.30 to CHF 161,482.70.
The General Meeting of Shareholders on 29 April 2010 resolved, in line with the proposals of
the Board of Directors, the following changes in capital:
1) Increase of the conditional share capital for convertible bonds and/or bonds with options
or other financial market instruments from previously existing CHF 150,000.00 (3,000,000
registered shares) to CHF 200,000.00 (4,000,000 registered shares).

42 Meyer Burger Annual Report 2010
2) Continuation and a respective increase of the authorised share capital to CHF 225,000.00
(4,500,000 registered shares), issuance possible until 29 April 2012.
As a result of the exercise of options, the ordinary share capital increased until the end of fiscal
year 2010 by CHF 21,280.15 (425,603 registered shares) to CHF 2,279,236.15 (45,584,723
registered shares). The conditional share capital for exercising of option rights granted to employees
and members of the Board of Directors decreased by the corresponding amount to
CHF 181,232.35 (3,624,647 registered shares). The registration of the corresponding change
has not been registered in the commercial register yet.
2.4.2 Changes in capital during 2009
In conjunction with the successful conclusion of the purchase contract for the business ac­
tivities of Diamond Wire Technology, LLC, the Company issued a total of 163,000 registered
shares out of the existing authorised share capital in September 2009. As a result, the ordinary
share capital of the Company increased by CHF 81,500.00 to CHF 1,594,595.00 and the
authorised share capital decreased to CHF 188,500.00.
As a result of the exercise of 19,875 employee options between 1 January and 16 December
2009, the conditional share capital for exercising of option rights granted to employees and
members of the Board of Directors decreased as of 16 December 2009 from CHF 213,625.00
to CHF 203,687.50. The ordinary share capital increased by CHF 9,937.50 from CHF
1,594,595.00 to CHF 1,604,532.50. The registration of the change in the Articles of Association
in the commercial register was done on 17 December 2009.
Between 17 December 2009 and 31 December 2009, an additional 800 employee options
were executed. The conditional share capital for exercising of option rights granted to employees
and members of the Board of Directors decreased as of 31 December 2009 from
CHF 203,687.50 to CHF 203,287.50. The ordinary share capital increased by CHF 400.00
from 1,604,532.50 to CHF 1,604,932.50. The registration of the corresponding change in the
commercial register was done, together with the change in capital in conjunction with the
merger with 3S Industries Ltd, on 15 January 2010.
2.4.3 Changes in capital during 2008
In conjunction with the successful conclusion of the purchase contracts for the acquisition of
majority stakes in AMB Apparate + Maschinenbau GmbH and in Hennecke Systems GmbH,
the Company issued a total of 63,440 registered shares out of the existing authorised share
capital in January and February 2008, respectively. As a result, the ordinary share capital of
the Company increased by CHF 31,720.00 to CHF 1,511,720.00 and the authorised share
capital decreased to CHF 263,280.00.
The General Meeting of Shareholders on 8 May 2008 resolved, in line with the proposals of
the Board of Directors, the following changes in capital:
1) Increase of the conditional share capital for exercising of option rights granted to employees
and members of the Board of Directors of the Company or of group companies from
previously existing CHF 145,000.00 to CHF 215,000.00.

Report FY 2010 Corporate Governance Financial Report Other Information 43
2) Creation of new conditional share capital for convertible bonds and/or bonds with options
or other financial market instruments of CHF 150,000.00.
3) Continuation and a respective increase of the authorised share capital of previously existing
CHF 263,280.00, issuance possible until 28 September 2008, to CHF 270,000.00 and
issuance possible until 8 May 2010.
As a result of the exercise of 2,750 employee options, the conditional share capital for exercising
of option rights granted to employees and members of the Board of Directors has
decreased to CHF 213,625.00 since the General Meeting of Shareholders was held on 8 May
2008. The ordinary share capital has increased by the respective amount of CHF 1,375.00 to
CHF 1,513,095.00. The corresponding changes in the Articles of Association were registered
in the commercial register as of February 2009.
2.5 Shares
The share capital of Meyer Burger Technology Ltd, as of 31 December 2010, was divided into
45,584,723 registered shares (number of registered shares reflected in the commercial register
as of 31.12.2010 was 45,159,120) with a nominal value of CHF 0.05 each. All shares are
fully paid­in. Each share is entitled to one vote. All shares are entitled to dividends. The Company
recognises only one entitled party for each share. A share register is kept on the shares
issued, in which the owners, usufructuaries and nominees of the registered shares are entered
along with the name, domicile, address and nationality. The entry in the share register
depends on identification by means of transfer of the ownership interest or the creation of a
usufruct in the correct form and in accordance with the Articles of Association. The Company
will only consider as shareholders those, who are registered in the share register.
2.6 Participation or bonus certificates
The Company has neither participation nor bonus certificates outstanding.
2.7 Limitations on transferability and nominee registrations
As a matter of principle, the Articles of Association of the Company do not include any
restrictions on transferability.
– Acquirers of registered shares are entered into the share register upon request as shareholders
with voting rights providing that they expressly declare that they have acquired
these registered shares on their own behalf and for their own account.
– The Board of Directors may enter nominees with up to a maximum of 3% of the registered
share capital with voting rights in the share register. In accordance with this regulation,
nominees are persons who do not expressly declare in the share register entry that they
hold the shares for their own account and with whom the Board of Directors has entered
into an agreement to this effect.
– Beyond this limit, the Board of Directors can enter registered shares of nominees with voting
rights in the share register, if the nominee in question states the name, address and
shareholdings of those persons for whose account it holds 0.5% or more of the registered
share capital as recorded in the commercial register.
1 Share:
1 Vote

44 Meyer Burger Annual Report 2010
– Legal entities or partnerships or other associations or joint ownership arrangements which
are linked through capital ownership or voting rights, through common management or in
like manner, as well as individuals, legal entities or partnerships (especially syndicates)
which act in concert with intent to evade the entry restrictions are considered as one
shareholder or nominee.
– The entry restrictions also apply to registered shares that were purchased or acquired
through the exercising of advance subscription rights, options or conversion rights.
2.8 Convertible bonds, options, share participation programme
As of 31 December 2010, Meyer Burger Technology Ltd did not have any convertible bonds
outstanding.
Option plan (until the end of fiscal year 2009)
The Board of Directors of the Company has adopted an option plan in fiscal year 2006 for the
members of the Board of Directors and the members of the Executive Board as well as for
other key employees within the group. Based on this plan, the Board of Directors granted options.
The options were granted free of charge and are non­transferable. Each option entitled
to subscribe to a registered share (nominal value of CHF 0.05) in accordance with the conditions
determined by the Board of Directors. After a defined vesting period, the options could
be exercised during the exercise period but only, if a valid employment contract or Board
membership existed. Options that have not been exercised will be forfeited after expiry of the
exercise period.
Outstanding options as of 31 December 2010:
Date of grant No. of options Exercise price Ratio Vesting period Exercise period
12.09.2007 1 115 500 CHF 20.40 1 : 1
2 years 14.09.2009–14.09.2011
04.11.2008 1 324 700 CHF 15.37 1 : 1 2 years 04.11.2010–04.11.2012
07.09.2009 1 526 200 CHF 19.50 1 : 1 2 years 07.09.2011–06.09.2013
18.01.2010 2 234 821 CHF 1.12 1 : 1 2 years 01.09.2009–31.08.2011
2 679 CHF 1.51 1 : 1 2 years 01.09.2009–31.08.2011
20 532 CHF 1.81 1 : 1 2 years 14.01.2010–13.01.2012
69 251 CHF 2.12 1 : 1 2 years 14.01.2010–13.01.2012
33 611 CHF 2.12 1 : 1 2 years 14.01.2010–13.01.2012
115 377 CHF 13.44 1 : 1 2 years 01.09.2010–31.08.2012
136 117 CHF 19.04 1 : 1 2 years 01.09.2011–31.08.2013
1 For the options that had been granted in the years 2007–2009 out of the option programme of Meyer Burger Technology
Ltd, the number of options and the exercise prices were adjusted in January 2010 in the same ratio (1:10) as the share
split of the registered shares took place (ratio of 1:10).
2 On the date of the merger between the Company and 3S Industry Ltd on 15 January 2010, 3S Industry Ltd had a total
of 930,050 options outstanding, which were exercisable into one 3S share each. Out of this total, 625,100 of these options
were directly exercisable, whereas 304,950 options were not exercisable yet. Meyer Burger Technology Ltd allocated
with effect from 14 January 2010, out of the existing share capital of the Company, to the beneficiary owners of
these options a corresponding amount of options exercisable into shares of the Company in accordance with the exchange
ratio of 1.12:1 as agreed in the merger contract. The exercise price was adjusted taking into consideration the
exchange ratio and the fact that the beneficiaries should not receive worse conditions than under the existing participation
plans of 3S Industries.

Report FY 2010 Corporate Governance Financial Report Other Information 45
The 1,578,788 options mentioned in the table correspond to 3.50% of the outstanding ordi­
nary share capital of the Company as of 31 December 2010 (capital registered in the com­
mercial register).
Share participation programme (since fiscal year 2010)
The Board of Directors approved in December 2009 a new share plan (which was applied for
the first time in fiscal year 2010) for the members of the Board of Directors and members of
the Executive Board as well as for other selected employees within the Group. The Board of
Directors determines the individual participants of the plan at its own discrection. Shares may
only be allocated to employees with an employment contract of indefinite term and in positions
not under notice, and to serving members of the Board of Directors, who have not submitted
their resignation.
Each participant receives an individual offer letter, stipulating the number of offered shares
being offered, the acquisition price per share, the payment conditions, the period within
which the participant has to declare acceptance of the offer, as well as the (optional) retention
periods. Within this acceptance period, the participant has to 1) declare acceptance of
the offer, 2) declare, which retention period that was set by the Board of Directors, he/she
wishes to be applied in acquiring the shares, 3) pay the full acquisition price for all shares,
which the participant wishes to acquire. The shares, which the Board of Directors has allocated,
have a vesting period of two years and an optional retention period that can be
selected by the participant of either zero, three or five years (following the end of the vesting
period). During the vesting period and the (optional) retention period, the participants cannot
sell (in part or entirely), transfer, pledge or debit the shares in any form. Shares acquired under
this plan forfeit in the event that the employee gives his/her notice or the Company ends the
employment relationship prior to expiration of the vesting period (subject to special situations
such as retirement, death or permanent incapacity for work due to invalidity, etc.). The same
rule applies in the event of the voluntary resignation of a member of the Board of Directors (or
de­selection by shareholders at a Meeting of Shareholders) prior to expiration of the vesting
period.
The Board of Directors is also entitled to set different modalities from the above mentioned
conditions for participants domiciled outside of Switzerland. It will thereby aim for equal treatment
of the participants taking into account the tax differences within the different states of
domicile. (Slightly modified conditions are currently applied for employees in Germany (deferred
acquisition of ownership, no optional retention period), the USA (no retention period)
and in China and Spain, where employees have been offered so­called phantom­shares.)
Under the share plan, the following number of shares was offered during fiscal year 2010. The
vesting period of these shares started on 1 December 2010.
Date of grant No. of shares Acquisition price Vesting period
15.12.2010
134 230
CHF 0.05
01.12.2010–30.11.2012
The 134,230 registered shares mentioned in the table correspond to 0.30% of the outstanding
ordinary share capital of the Company as of 31 December 2010 (capital registered in the
commercial register).

46 Meyer Burger Annual Report 2010
The total amount of share capital for the option and share participation programme together
amounts to 3.80% of the outstanding ordinary share capital of the Company as of 31 December
2010.
3. Board of Directors
The Company’s Board of Directors consisted of six members as of 31 December 2010. As
part of the merger with 3S Industries Ltd, Messrs. Rudolf Samuel Güdel, Rolf Wägli and Prof.
Dr. Konrad Wegener were newly elected as members of the Board of Directors. Peter Pauli
and Prof. Dr. Eicke Weber stepped down from the Board as of that date.
Board of Directors as of 31 December 2010
Name Born Position First elected Elected until AGM
Peter M. Wagner
1953 Chairman 2006 2012
Dr. Alexander Vogel 1964 Vice Chairman 1999 2012
Rudolf Samuel Güdel 1948 Member 2010 2013
Heinz Roth 1954 Member 2009 2012
Rolf Wägli 1951 Member 2010 2013
Prof. Dr. Konrad Wegener 1958 Member 2010 2013
Peter M. Wagner
Chairman, non executive member of the Board of Directors, German citizen
Education Studies in mathematics and physics at the University of Mainz, DE­Mainz
Degree in mathematics
1978–1987 Software engineer at Alcatel SEL AG (previously Standard Elektrik Lorenz AG),
DE­Stuttgart
1987–1989 Assistant to the Chief Executive Officer of Alcatel SEL AG, DE­Stuttgart
1989–1995 Head of Business Unit Product Strategies and Synergies, Head of Business Unit
Telecommunications Systems at Alcatel SEL AG, DE­Stuttgart
1995–1998 Managing Director at Wandel & Goltermann Management Holding GmbH,
DE­Eningen
1998 Chief Executive Officer of Wandel & Goltermann Management Holding GmbH,
DE­Eningen
1998–2000 Chief Executive Officer of Wavetek Wandel Goltermann GmbH, DE­Eningen, and
President/CEO of Wavetek Wandel Goltermann, Inc., USA­Raleigh/NC
2000–2004 Chief Executive Officer of debitel AG, DE­Stuttgart
Since 2004 Independent business consultant, DE­Überlingen
2007–2008 On ad interim basis: Head of Research & Development at Meyer Burger Ltd,
CH­Thun
Since 2010 On ad interim basis: Chief Operating Officer at AMB Apparate + Maschinenbau
GmbH, DE­Langweid
Since 1990, many mandates as a member of supervisory boards or in similar positions at various
technology companies and organisations, including: Member of the Board of Directors
of Deutsche Messe AG, DE­Hanover; member of the Chairmanship of DEKRA e.V., DE­Stutt­

Report FY 2010 Corporate Governance Financial Report Other Information 47
gart; member of the Main Board of Directors of the Bundesverband Informationswirtschaft,
Telekommunikation und neue Medien e.V. (Federal Association of IT, Telecommunications
and New Media), DE­Berlin (BITKOM), and President of the Verband der Anbieter von
Telekommunikations­ und Mehrwertdiensten e.V. (Association of Telecommunications and
Value­Added Services Providers), DE­Cologne/DE­Berlin (VATM); member of the Advisory
Board of the Wissenschaftliche Institut für Kommunikationsforschung (Scientific Institute for
Communications Research), DE­Bonn (WIK).
Current mandates: Chairman of the Board of Directors of DATAGROUP IT Services Holding
AG, DE­Pliezhausen; Chairman of the Board of Directors of KEYMILE International GmbH,
AT­Vienna; Chairman of the Advisory Board of the Stiftung für konkrete Kunst (Foundation for
Concrete Art), DE­Reutlingen.
Details to the services as COO of AMB Apparate + Maschinenbau GmbH are available in
Note 6.32.4 “Related party transactions” on page 133 of this Annual Report.
Dr. Alexander Vogel, LL.M.
Vice Chairman, non executive member of the Board of Directors, Swiss citizen
Education Studies in business administration and law at the University of St. Gall, CH­St. Gall;
Dissertation in the area of company and group law
Research project of the national fund in the area of group law
Licensed to practice law, licensed notary (Lucerne and Zug)
Postgraduate studies (LL.M.) at Northwestern University in Chicago,
USA­Chicago
1992–1999 Associate at law firm meyerlustenberger in Zurich and Zug
Activities in the areas of company and commercial law, as well as banking, financial
and capital market law
1994 Active for law firm Mayer Brown & Platt in Chicago, licensed to practice law in
New York
Since 2000 Partner at law firm meyerlustenberger in Zurich and Zug, Head Practise Group
commercial and financial market law, various publications and lectures in commercial
and financial market law
Member of the Board of Directors of various medium­sized companies in Switzerland. Member
of the Board and Secretary of the Swiss Association of Investment Companies (SAIC). No
significant official functions or political offices.
Meyer Burger obtains consultancy services in legal cases from various law firms, including
meyerlustenberger, in which Dr. Vogel is one of several partners. The Executive Board generally
decides on awarding mandates to external lawyers without consulting the Board of Directors.
Further details are available in Note 6.32.4 “Related party transactions” on page 133 of
this Annual Report.

48 Meyer Burger Annual Report 2010
Rudolf Samuel Güdel
Non executive member of the Board of Directors, Swiss citizen
Education Studies in machinery construction at the Federal Institute of Technology (ETH)
Zurich, CH­Zurich
Master degree on thermal machines (Professor Traupel)
1970 Exchange semester in Korea and practical training in a South Korean power plant
1972 Training to Officer of Swiss Army
1973–1979 Efficiency engineer and Assistant to the Manager at the 135­MW­power plant
of Alusuisse aluminium plant in Northern Territory, Australia
Since 1979 Owner and Delegate of the Board of Directors at Güdel Group Ltd (robotic and
automation) and Chief Executive Officer of Güdel Ltd, CH­Langenthal
Member of the Board of Directors of 3S Industries Ltd until the merger with Meyer Burger
Technology Ltd. Member of the Board of Directors of VDMA Sector Robotics and Visions,
DE­Frankfurt. Founding member of EUnited, BE­Bruxelles. Member of the Advisory Board of
University of Applied Science in CH­Berne (BUAS). No further Board of Directors memberships
or consultancy activities for important Swiss or foreign organisations. No significant official
functions or political offices.
The Company procures services from/performs services to Güdel Group. The Executive
Board generally decides on the size of cooperation with Güdel Group without consulting the
Board of Directors. Further details are available in Note 6.32.4 “Related party transactions”
on page 133 of this Annual Report.
Heinz Roth
Non executive member of the Board of Directors, Swiss citizen
Education Business School, Swiss Certified Banker, Graduate of Swiss Banking School
1977–2002 Various management positions (international and within Switzerland) at Credit
Suisse Group, including Key Account Manager Corporate Banking, Head
Region Zurich North­West, Member of the Executive Board of Credit Suisse
Private Banking and Head Central/Northern/and Eastern Europe, Member of
the Executive Board of Credit Suisse Financial Services and CEO Private
Banking Switzerland
2002 Executive Program at Stanford University
Since 2003 Independent business consultant specialised on the financial sector (mandates
as member of the Board of Directors and mandates on a project basis)
Member of the Board of Directors of Vontobel Holding Ltd, CH­Zurich, and of Bank Vontobel
Ltd, CH­Zurich, from 2004 until 2009 (Member of Audit Committee, Chairman of IT Committee).
Member of the Board of Directors of Walter Meier Ltd, CH­Schwerzenbach (Chairman
of Audit Committee). Member of the Board of Directors of Banca Arner SA, CH­Lugano.
Member of the Board of Directors of various non listed companies in Switzerland and member
of different foundation boards. President of the foundation Davos Festival. No significant
official functions or political offices.
No significant business relationship with the Company or one of its group companies.

Report FY 2010 Corporate Governance Financial Report Other Information 49
Rolf Wägli
Non executive member of the Board of Directors, Swiss citizen
Education Business School, Swiss Certified Banker
1976–1990 Activities in Investment Banking and Private Banking with broad international
experience, including ten years in management capacities. Positions in Switzerland
and internationally at Credit Suisse, Bank Cantrade, Rothschild, Interallianz­Bank,
Grindlays and at the Swiss Banking Institute Zurich
Since 1990 Independent asset manager (R. Wägli & Cie Ltd) for international private clients
Since 2000 Founder and Chairman of the Board of Directors of New Value Ltd, CH­Zurich, a
private equity investment company, listed on the SIX Swiss Exchange
2003–2009 Chairman of the Board of Directors of 3S Industries Ltd, CH­Lyss
Member of the Board of Directors of 3S Industries Ltd (Chairman) until the merger with Meyer
Burger Technology Ltd. Chairman of the Board of Directors of New Value Ltd, Zurich. Member
of the Board of Directors of various medium­sized companies in Switzerland. No significant
official functions or political offices.
No significant business relationships with the Company or one of its group companies.
Prof. Dr. Konrad Wegener
Non executive member of the Board of Directors, German citizen
Education Studies in machinery construction and doctorate in the equation of material
behaviour of plastics at the Technische Universität (TU) Braunschweig,
DE­Braunschweig
1990–1999 Schuler Pressen GmbH & Co. KG, DE­Göppingen
Tasks in restructuring the construction departments
Head of project planning for series machines
Divisional Head of technical services
Preparation of Schuler’s engagement in laser technology
1999–2003 Technical CEO of Schuler Laser Technology, DE­Heusenstamm. Development
and construction of large­scale welding installations for the ship building and
aviation industries, as well as welding and cutting equipment for applications
in the construction of vehicle bodywork and fabric cutting machinery
Lecturer on tensor calculation and continuum mechanics at TU Braun schweig,
and on metal forming technology and machinery in Darmstadt
Since 2003 Professor for production technology and tool machinery at the Federal Insti­
tute of Technology (ETH) Zurich, CH­Zurich
Head of the IWF (Institute for tool machinery and production) as well as inspire
Ltd, a transfer centre for production technology at the ETH Zurich
Member of the Board of Directors of 3S Industries Ltd until the merger with Meyer Burger
Technology Ltd. Member of the Board of the Swiss Association for Welding Technology,
member and Delegate of the Board of Directors of inspire Ltd, Zurich. No significant official
functions or political offices.
No significant business relationship with the Company or one of its group companies.

50 Meyer Burger Annual Report 2010
Executive activities for the Company or one of its group companies
The non executive members of the Board of Directors, Dr. Alexander Vogel, Rudolf Samuel
Güdel, Heinz Roth, Rolf Wägli, and Prof. Dr. Konrad Wegener have never been members of
the Executive Board of the Company or one of the group companies. Peter M. Wagner acted
as Head of Research & Development at Meyer Burger Ltd on an ad interim basis from July
2007 until mid­December 2008 and has been acting as COO of AMB Apparate + Maschinenbau
GmbH since May 2010.
3.1 Elections and terms of office
In accordance with the Articles of Association of the Company, the Board of Directors con­
sists of one or more members. The members of the Board of Directors are elected individu­
ally for a term of office of three years up to and including the next Annual General Meeting.
Re­election is possible. The term of office of a member of the Board of Directors will, however,
end irrevocably on the date of the Annual General Meeting following the 70th birthday
of the particular member of the Board of Directors.
At the Extraordinary Meeting of Shareholders, held on 14 January 2010, Messrs Rudolf
Samuel Güdel, Rolf Wägli and Prof. Dr. Konrad Wegener were newly elected as members of
the Board of Directors (in individual elections) for a term of office of three years. Peter Pauli
and Prof. Dr. Eicke Weber, previously members of the Board of Directors, had agreed to step
down from the Board as per 14 January 2010, if the merger with 3S Industries Ltd became
effective.
3.2 Internal organisation
The Board of Directors constitutes itself. It shall choose a Chairman, one or more Vice Chair­
man, the members of the Committees and a Secretary. The latter need not be a member of
the Board of Directors. If the CEO is a member of the Board of Directors, he will take the role
as Delegate of the Board of Directors. Peter M. Wagner has been in office as Chairman of the
Board of Directors since September 2006, Vice Chairman is Dr. Alexander Vogel.
The Board of Directors holds ordinary Board meetings at least four times per year (usually at
least one meeting per quarter). Additional meetings are held as often as necessary. The
meetings of the Board of Directors usually last between half a day to an entire day. In fiscal
year 2010, the Board of Directors held six Board meetings, one telephone conference and
passed two resolutions by means of circular resolution. The CEO and the CFO participated
at five of the meetings.
The Board of Directors can introduce permanent or ad hoc Committees for the preparation
of individual resolutions, for the performance of certain control functions, or for other special
tasks. The Committees do not have decision authority, except for special decisions by the
Board of Directors in particular cases.
The Board of Directors formed three permanent Committees, the Risk & Audit Committee,
the Nomination & Compensation Committee and the Mergers & Acquisitions Committee. The
duration of the Committee meetings depends on the issues discussed.

Report FY 2010 Corporate Governance Financial Report Other Information 51
In addition, the Board of Directors formed a Construction Committee, which accompanies
the construction planning of the new headquarters of MB Wafertec (Meyer Burger Ltd).
Furthermore, the Board of Directors formed a Technology Advisory Board in fiscal year 2010.
The duration of the meetings of the Construction Committee and of the Technology Advisory
Board depends on the issues discussed.
3.3 Risk & Audit Committee
Committee members during fiscal year 2010: Heinz Roth (Chairman), Peter M. Wagner and
Dr. Alexander Vogel.
The R&A Committee is responsible for the arrangement of accounting, the monitoring of the
assessment of risks within the group and the internal control system IKS. The Committee is
also responsible for the inspection of the annual financial statements and of other financial
information, of insurances, business activities with regard to compliance, the services, inde­
pendence and fees of the auditors and their recommendations, as well as the services and
fees for consulting mandates.
The Committee meets as often as business requires, but at least three times a year. The Chief
Financial Officer usually participates in these meetings. Other members of the Board of Directors,
the Chief Executive Officer or other members of the Executive Board, representatives of
the external auditors or other specialists may also be invited to these meetings. The decision
thereto is with the Chairman of the R&A Committee. The appointment of assignments to third
parties requires the approval of the Board of Directors or, in urgent cases, of the Chairman of
the Board of Directors. The Committee meets at least twice per year with representatives of
the external auditors. During the length of such a meeting with the auditors none of the members
of the Executive Board shall be present.
In fiscal year 2010, the R&A Committee held three meetings which lasted between 3.5 to 5
hours, and there were five telephone conferences. The CFO participated at all the meetings
and at two of the telephone conferences. The external auditors participated at two of the
meetings. No other external advisors participated in any of the meetings.
3.4 Nomination & Compensation Committee
Committee members during fiscal year 2010: Rolf Wägli (elected as Chairman at the
Board meeting on 25 February 2010, assumed role as Chairman on 24 March 2010), Rudolf
Samuel Güdel, Dr. Alexander Vogel (Chairman until 24 March 2010) and Peter M. Wagner.
The N&C Committee is in charge of the process for the selection of new members of the
Board of Directors and the application process for new members of the Board of Directors
and the Executive Board. In addition, the Committee proposes the compensation for the
members of the Board of Directors and the Committees of the Board of Directors, as well as
for the members of the Executive Board. Finally, the Committee is responsible for the inspection,
proposal and monitoring of the implementation of option and share participation plans,
as well as for the planning of successors at the highest level of management.

52 Meyer Burger Annual Report 2010
The Committee meets as often as business requires (usually at least four times per year). The
Chairman of the Committee can invite members of the Executive Board, members of the
management of significant subsidiaries or third parties to the meetings. The appointment of
assignments to third parties requires the approval of the Board of Directors or the Chairman
of the Board of Directors.
In fiscal year 2010, the N&C Committee held seven meetings and three telephone conferences.
The CEO and the CFO participated at one of the meetings. No external advisors participated
in any of the meetings.
3.5 Mergers & Acquisitions Committee
Committee members during fiscal year 2010: Peter M. Wagner (Chairman), Heinz Roth,
Dr. Alexander Vogel and Rolf Wägli.
The M&A Committee is responsible for the preliminary evaluation of material investments (notably
purchases of companies) and divestments. It is also responsible for the monitoring and,
if needed, the support of the Executive Board in terms of preparation, valuation and pricing,
and negotiations in conjunction with investments/divestments and important financial transactions.
In addition and whenever needed, the M&A Committee will support the Executive
Board in the implementation and integration of investment projects.
The Committee meets as often as business requires. The CEO and if possible the CFO usually
participate at the meetings of the M&A Committee. The Chairman of the Committee can
invite other members of the Board of Directors, other members of the Executive Board, other
members of the management of significant subsidiaries or third parties to the meetings. The
appointment of assignments to third parties requires the approval of the Board of Directors
or the Chairman of the Board of Directors.
In fiscal year 2010, the M&A Committee held one meeting and four telephone conferences.
The CEO participated at each of the telephone conferences, the CFO at the one meeting and
at three of the telephone conferences. The Committee has selectively invited external advisors
to support them in certain projects.
3.6 Construction Committee
Committee members during fiscal year 2010 (since February 2010): Rudolf Samuel Güdel
(Chairman), Heinz Roth and Dr. Alexander Vogel.
The Committee was established by the Board of Directors in February 2010 and supervises
the construction planning of the new headquarters of Meyer Burger Ltd in Thun. The Committee
accompanies and supports the Project Steering Board of the Executive Board of MB
Wafertec (Meyer Burger Ltd), Thun. It supervises the operations of the project management
and controls the financing of the project.
The Committee has continuously accompanied the project and examined the regular, written
reports of the project management. Thereafter, the Committee reported about the project at
the next meeting of the Board of Directors. In fiscal year 2010, there were three telephone
conferences with all members of the Committee and several decisions were taken by circular
resolution.

Report FY 2010 Corporate Governance Financial Report Other Information 53
3.7 Technology Advisory Board
Committee members during fiscal year 2010 (since February 2010): Prof. Dr. Eicke Weber
(Director of the Fraunhofer Institute for Solar Energy Systems ISE, DE­Freiburg, and Professor
of Mathematics and Physics and of Applied Sciences at the Albert Ludwigs University,
DE­Freiburg), Dr. Patrick Hofer­Noser (Chief Technology Officer and Deputy CEO of Meyer
Burger Technology Ltd), Sylvère Leu (Chief Innovation Officer of Meyer Burger Technology Ltd),
Ralf Preu (Head of PV production technology and quality assurance at the Fraunhofer Institute
for Solar Energy Systems ISE, DE­Freiburg) and Prof. Dr. Konrad Wegener (Professor for production
technology and tool machinery at the Federal Institute of Technology (ETH) Zurich,
CH­Zurich, and Head of the IWF and of inspire Ltd, a transfer centre for production technology
at the ETH Zurich; Member of the Board of Directors of Meyer Burger Technology AG).
The Technology Advisory Board was established by the Board of Directors in February 2010.
The Advisory Board will usually meet four times per year for meetings that shall last for an entire
day; three meetings were held in fiscal year 2010. The Technology Advisory Board ensures
that the Board of Directors and the Executive Board are aware of the development
trends in the solar industry and of potential new processes, in order for Meyer Burger Group
to invest into the most promising industry potentials at the right time. The Advisory Board can
act in an advisory capacity during M&A projects, if it is mandated by the Executive Board to
do so. The Technology Advisory Board focuses on processes along the value chain of Photovoltaic,
which have a competitive advantage with regards to cost of ownership and potential
further cost reductions. The Advisory Board regularly informs the Board of Directors and
the Executive Board and prepares a detailed report regarding the R&D activities of Meyer
Burger Group once per year (towards the end of the year).
3.8 Definition of areas of responsibility
The main tasks of the Board of Directors are the determination and periodic inspection of the
corporate strategy, Company policy, as well as the organisation (including controlling systems)
of the group, the control of the operative management and of the risk management. In
addition, it is responsible for the periodic assessment of its own performance and that of the
Executive Board.
In general, the Board of Directors has fully delegated the operational management of the
group to the CEO and the Executive Board, respectively.
The Board of Directors explicitly reserved the approval of the following circumstances to itself:
– Incorporation/financing/closing of subsidiaries; investments into/divestments of participations,
changes in participation quotas or of share ownership ratios; purchase of a business
or a company or parts thereof through the acquisition of assets or of assets and
liabilities (including workforce); opening balance sheet of business parts that shall be
transferred to subsidiaries, as well as concept and main details of contracts between
group companies
– Contracts/cancellation of contracts regarding strategic alliances that have an influence on
the business scope, geographic scope or the capital structure of Meyer Burger Technology
Ltd or any of its group companies

54 Meyer Burger Annual Report 2010
– Decisions on business affairs that are of major importance to Meyer Burger Group
– Individual expenditures, investments, divestments; sale of assets, abandonment of plants
or assets, liquidation of investments, waiving of receivables; grant of sales reductions or
adjustments to invoices as long as there is assurance that defined budgeted targets
(Sales, EBIT) for the year are reached; write­off of receivables as long as there is assurance
that defined budgeted targets (Sales, EBIT) for the year are reached: Above CHF 1.5 million,
if included in the budget; above CHF 1 million, if not included in the budget
– Agreements to and allowance of letter of comforts and guarantees
– Credit limits, loans to third parties
– Financing transactions (bank loans, bonds issues), leasing above CHF 5 million
– Structured financing transactions
– Decisions concerning communication (Identity, design, branding, communication policy,
marketing communication strategy)
– Personnel and salary policy of the group
– Wage negotiations and social plans for the group
– Appointment, dismissal and compensation of members of the Executive Board
– Employment conditions for highest level of management positions
– Share and option programmes, including programmes of profit sharing for associates and
employees
– Principles for pension plans and social benefits
– Large restructuring programmes
Members of the Board of Directors and the members of the Executive Board of the Company
have joint signature authority.
3.9 Information and control instruments vis-à-vis the Executive Board
The Board of Directors receives from the Executive Board a report on business development
and on the key figures for all group companies, every month as part of a structured information
system. The information relates in particular to:
– Detailed monthly reports and consolidated monthly financial statements (including key figures
for the group)
– Information on incoming orders, order backlog, situation of inventory, production data,
development of employees, liquidity of the group
The members of the Board of Directors also receive the following information on a quarterly
basis and during Board meetings:
– Consolidated quarterly financial statements and quarterly reports (financial figures are
compared with the budget and the results for the previous year’s period)
– Interim reports on the course of business at each meeting of the Board of Directors
– Information on the business and market development at each meeting of the Board of
Directors
– Appropriate information with regard to events, which concern the internal control system
and the risk management, respectively, at each meeting of the Board of Directors

Report FY 2010 Corporate Governance Financial Report Other Information 55
At those Board of Directors’ meetings, at which financial results are discussed, both the CEO
and the CFO participate during the meetings.
During Board meetings, each member of the Board of Directors can request information from
the other members of the Board, as well as from the members of the Executive Board on all
affairs of the Company. Outside of Board meetings, each member of the Board of Directors can
request information on the course of business or important business transactions from the
CEO, the CFO or from other members of the Executive Board. If approved by the Chairman,
the members of the Board of Directors can also contact members of the management of group
companies and request access to business documents. In case that the Chairman denies such
contact or access to documents, the Board of Directors will decide upon the matter.
The Board of Directors approved an optimised internal control System (“IKS”), which has become
effective as of 1 January 2009. The IKS applies a risk oriented approach (focused on
major risks and control). The scope of the IKS depends on the size and risks of each subsidiary
within the group. Each subsidiary of Meyer Burger is classified as a “Full Scope” or “Limited
Scope” company. This classification is reviewed once per year. For the Full Scope companies,
the key risks are continuously monitored and every three years, all control measures
of the major processes that are relevant for the financial reporting will be reviewed with regards
to their effectiveness. For the Limited Scope companies, the controls shall be executed
in accordance to a plan that will be defined on a yearly basis. On the group level, controls are
implemented with regards to the consolidated financial statements of the group.
The following processes were defined as financially relevant: Sales, materials management,
production, fixed assets, payroll accounting, finance department, information technology. For
each of these processes, a particular IKS person has been defined as the responsible person
for the process. For an evaluation of the companywide controls in accordance with the
scope, the Executive Board of each group subsidiary executes a self­assessment each year
during the first half of the year. Measures that result out of the evaluation are implemented
until the end of the respective year. The Board of Directors receives an IKS report once per
year. The external auditors also audit as part of their annual audit the compliance of IKS regulations
and report their conclusions directly to the Risk & Audit Committee as well as to the
Board of Directors.
The Company also has an internal audit, which is independent and reports directly to the Risk
& Audit Committee. The internal audit ensures that it is continuously informed about all important
activities, plans, projects, instructions, rules, regulations, etc. of the group. To ensure
the effectiveness of its supervisory tasks, the internal audit can conduct audits, review any
document and demand that all information it asks for is provided. The internal audit is obliged
to immediately report possible irregularities or fundamental shortcomings to the Risk & Audit
Committee. It defines a detailed audit programme (in respect of business affairs, timing, personnel
involved) once per year, which has to be approved by the Risk & Audit Committee
prior to the conduct of the audit. The results of each audit have to be reported to the Risk &
Audit Committee in written format (as an audit report). Once per year, the Risk & Audit Committee
also receives a written report, reflecting the activities of the internal audit. The internal
audit strives for a cooperation with the external auditors that ensures both, a maximal benefit
of the cooperation and a mutual independence of both parties.

56 Meyer Burger Annual Report 2010
Board of Directors
From top left to bottom right: Peter M. Wagner, Dr. Alexander Vogel, Heinz Roth, Rudolf Samuel Güdel,
Rolf Wägli, Prof. Dr. Konrad Wegener

Report FY 2010 Corporate Governance Financial Report Other Information 57
Executive Board
From top left to bottom right: Peter Pauli, Dr. Patrick Hofer­Noser, Michel Hirschi, Sylvère Leu

58 Meyer Burger Annual Report 2010
4. Executive Board
The Executive Board of Meyer Burger Technology Ltd consisted of two members, Peter Pauli,
CEO, and Michel Hirschi, CFO until 14 January 2010. The Executive Board was expanded as
part of the merger with 3S Industries Ltd, which was approved by the Extraordinary Meeting
of Shareholders on 14 January 2010. Since that date, the Executive Board of the Company
has been consisting of four members.
Executive Board as of 31 December 2010
Name Born Position Member since
Peter Pauli 1960 Chief Executive Officer 2002
Michel Hirschi 1967 Chief Financial Officer 2006
Dr. Patrick Hofer­Noser 1966 Chief Technology Officer, Deputy CEO 2010
Sylvère Leu 1952 Chief Innovation Officer 2010
Peter Pauli
Chief Executive Officer, Swiss citizen
Education Mechanical engineer
Graduate FH engineer in mechanical engineering, specialising in plant
engineering
Postgraduate studies in industrial engineering specialising in business
management
Advanced Management Program, INSEAD
1985–1990 Assistant to the Executive Board and Head of IT at Transelastic AG, CH­Wallbach
(subsidiary of Siegling Group)
1990–1995 Manager and member of the Executive Board at Transelastic AG, CH­Wallbach
1995–2000 Management responsibility at Siegling (Switzerland) as part of the takeover by
Forbo (1995), responsible for the Extremultus product group within Siegling Group
2000–2002 Responsible for the European sales and service organisations as Head of Sales
& Marketing at Siegling GmbH in DE­Hanover
2002–2010 Chief Executive Officer (CEO) and member of the Board of Directors of the Company
(until 14 January 2010) and of Meyer Burger Ltd
Since 2008 Member of the Swisscanto Advisory Board for Sustainability of Swisscanto
Fondsleitung AG
Since 2010 Chief Executive Officer (CEO) and member of the Executive Board of the
Company
Peter Pauli is a member of the Board of Directors or of the Executive Board of different group
companies of Meyer Burger Technology Ltd. During fiscal year 2009 and until the Extraordinary
Meeting of Shareholders on 14 January 2010, he was also member and Delegate of the
Board of Directors of Meyer Burger Technology Ltd. No further Board of Directors memberships
or consultancy activities for important Swiss or foreign organisations. No significant
official functions or political offices.

Report FY 2010 Corporate Governance Financial Report Other Information 59
Michel Hirschi
Chief Financial Officer, Swiss citizen
Education Business School (banking industry)
Training in programming and analysis
BSC Economics and Business Administration, College of Higher Education
Executive Master of Corporate Finance, College of Higher Education Central
Switzerland
1983–1993 Analyst and Programmer at Valiant Bank in CH­Berne
1995–1997 Team Leader/Project Leader of a BPR project at the newly formed banking information­outsourcing
company RBA­Service Ltd in Gümlingen, CH­Berne
1997–1999 Profit Centre Controller at Swatch Ltd, CH­Biel, for profit centres FlikFlak,
Swatch Telecom and Swatch Access
1999–2002 Head of Controlling at Swisscom Group, CH­Berne, responsible for supervising
the business unit International Business Solutions, project participation
and Project Manager, inter alia for a project involving the development of a
completely new value flow model in SAP R/3
2001–2003 Member of the Board of Directors of Comsol Ltd, CH­Berne
2002–2006 Chief Financial Officer, responsible for Finance, Administration and Human
Resources and member of the Executive Board at Infonet Schweiz AG,
CH­Berne (joint venture between Swisscom and Infonet USA)
2006–2010 Member of the Executive Board and CFO of Meyer Burger Ltd
Since 2005 Member of the Board of Directors and member of the Audit Committee at
Zurmont Finanz AG, CH­Zug (Zurmont Capital I)
Since 2006 Chief Financial Officer and member of the Executive Board of the Company
Michel Hirschi is a member of the Board of Directors and/or of the Executive Board of differ­
ent group companies of Meyer Burger Technology Ltd. Member of the Board of Directors and
member of the Investment Committee of Zurmont Madison Management AG. Member of the
Board of Directors and of the Audit Committee of CLS Corporate Language Services Holding
AG. No further mandates for Board memberships or consulting activities for important
Swiss or foreign organisations. No significant official functions or political offices.

60 Meyer Burger Annual Report 2010
Dr. Patrick Hofer-Noser
Chief Technology Officer and Deputy CEO, Swiss citizen
Education Electronic and machinery engineer
Diploma electro engineer, ETHZ
Doctorate in power electronics and drive technology at the professorship of
Prof. Dr. Hugel, at ETHZ
1993–1997 Assistant professor for electrotechnical development and construction at the
ETH Zurich
Studies and diploma theses, assistance with expertises
Preparation of lectures and exercise courses in electrotechnology, conducting
practical trainings and lecture courses
Research activities with ABB transport systems in power electronics for traction
applications
1998–2000 Head Electrotechnology at Atlantis Water Desalination AG, CH­Berne
Design, realisation of large PV projects
Product modifications to conform with UL Norms 1703 and 790
Quality monitoring of manufacturing in Switzerland and the USA
Responsible for IT including computer network
Construction of a laminator for the photovoltaic industry
2001–2008 Founding member of 3S and Chief Executive Officer of 3S Industries Ltd,
CH­Lyss
2008–2010 Delegate of the Board of Directors and Chief Executive Officer of 3S Industries
Ltd, CH­Lyss
Since 2010 Chief Technology Officer (CTO) and member of the Executive Board of the
Company, Deputy CEO
Member of the Board of Directors of 3S Industries Ltd (Delegate) until the merger with Meyer
Burger Technology Ltd. Dr. Patrick Hofer­Noser is a member of the Board of Directors and/or
of the Executive Board of different group companies of Meyer Burger Technology Ltd. Member
of the Board of Directors of Güdel Group Ltd, CH­Langenthal. No further mandates for
Board memberships or consulting activities for important Swiss or foreign organisations. No
significant official functions or political offices.

Report FY 2010 Corporate Governance Financial Report Other Information 61
Sylvère Leu
Chief Innovation Officer, Swiss citizen
Education Engineer (dipl. El.­Ing. ETH) Federal Institute of Technology (ETH) Zurich,
CH­Zurich
BSC in Economics and Business Administration at University St. Gall (lic. oec.
HSG), CH­St. Gall
1975–1978 BBC Baden, project planning for large power plants
1979–1986 Assistant of production management board and Head of controlling for manufacturing
plants at Hilti Ltd, LI­Schaan
University lecturer at University St. Gall (HSG)
1986–1988 Managing Director at Elmess (turnaround situation)
Development, manufacturing and sales of electronic measurement systems
Realignment of electromechanical instruments to electronic instruments
(memobox)
1989–1997 Member of the Executive Board at Fabrisolar Ltd, CH­Schwerzenbach
(turnaround situation)
Manager of four Business Units: Photovoltaik, Power supply, EMC and Real
time image processing. Construction of the first grid­tied PV system in
Switzerland
Co­owner EMC test centre (MBO from Contraves), from 1995–2005
1997–2001 Foundation and Managing Director Fabrisolar Ltd, CH­Küsnacht. MBO from
Fabrimex AG. Sold to Suntechnics HH in 2001 (Conergy Group)
2001–2005 Managing Director Suntechnics GmbH, DE­Hamburg (subsidiary of Conergy
Group), Development of the first PV MW power plants
Development of engineering and sales departments in 7 countries
2006–2008 Managing Director Conergy SolarModule GmbH, DE­Frankfurt/Oder
Development of the first fully integrated production line with wafer, cell and
module manufacturing
2008–2010 Chief Operating Officer of 3S Industries Ltd, CH­Lyss
Since 2010 Chief Innovation Officer (CIO) and member of the Executive Board of the
Company
Member of the Board of Directors of Cipetec Ltd Consulting, CH­Schönenberg. No further
mandates for Board memberships or consulting activities for important Swiss or foreign or­
ganisations. No significant official functions or political offices.
4.1 Management contracts
There are no management contracts between Meyer Burger Technology Ltd or any of the
group companies and third parties.

62 Meyer Burger Annual Report 2010
5. Compensation, shareholdings and loans
5.1 Contents and method in fiscal year 2010
Non executive members of the Board of Directors:
The non executive members of the Board of Directors receive compensation in the form of a
Board of Directors fee, which is usually proposed on an annual basis by the Nomination &
Compensation Committee and is decided upon by the entire Board of Directors using dutiful
judgment. The total compensation is based on the exposure and responsibilities of each
individual member (Board of Directors: Chairman, Vice Chairman, Member; Committees:
Chairman, Member). The compensation is paid in cash and/or in form of shares with a vesting
period of two years and a optional retention period of zero, three or five years, following
the vesting period (until and including fiscal year 2009, it was in form of options with a vesting
period of two years). The compensation to the members of the Board of Directors is not
bound to specific targets of the Company.
For fiscal year 2010, the non executive members of the Board of Directors received their compensation
in cash and in shares. The vesting period for the shares started on 1 December
2010. The main details of the share participation programme are mentioned in section “2.8
Convertible bonds, options and share participation programme” on page 44 of this report.
For fiscal year 2010, the Board of Directors fees (cash) for the members of the Board and of
the Committees were set as follows:
Chairman of the Board of Directors CHF 150 000 (2009: CHF 88 000)
Vice Chairman of the Board of Directors CHF 58 000 (2009: CHF 58 660)
Member of the Board of Directors CHF 55 000 (2009: CHF 58 660)
Chairman of Committee CHF 23 000 (2009: CHF 1500 for each physical meeting per committee)
1
Member of Committee CHF 15 000 (2009: CHF 1000 for each physical meeting per committee)
1
1 Committee members partly or entirely waived the payment per meeting during fiscal year 2009 due to the challenging
economic situation
The fee for the Chairman of the Board of Directors was raised in fiscal year 2010 to reflect the
expansion of Meyer Burger Group and the associated duties/responsibilities of the Chairman.
The changes in the total amount of compensation for the members of the Board of Directors
(please refer to page 131 in the financial statements of this Annual Report) are mainly due to the
changes in compensation as a member of a Committee and due to the differences in valuation
between the allocated shares (in fiscal year 2010) and the allocated options in the previous fiscal
year.
Members of the Executive Board:
The compensation for the members of the Executive Board is verified and proposed to the
Board of Directors by the Nomination & Compensation Committee together with the Chief
Executive Officer. The total compensation is decided upon by the entire Board of Directors,
usually once a year. When discussing the compensation of the CEO (who also was a member
of the Board of Directors and acted as its Delegate in fiscal year 2009 and until 14 January
2010), the CEO is not included in the discussion. The other members of the Executive Board
do not participate during the time of the Board meeting, when the Board of Directors discusses
their compensation.

Report FY 2010 Corporate Governance Financial Report Other Information 63
The compensation for the members of the Executive Board includes a base salary in accor­
dance with their responsibilities and a variable, performance­related component (cash
bonus). The base salary is fixed at the beginning of the year and will not be changed during
the reporting period.
A target bonus is defined for each member of the Executive Board. This target bonus forms
the basis for the calculation of the effective cash bonus. The amount of bonus for the CEO and
the CFO is determined on overall and financial targets of the Company (in fiscal year 2010: Net
Sales, EBITDA) with a weighting of 70%, and on individual “non financial” targets (e.g. targets
for specific projects, product market launches, development of certain markets) that are
weighted with 30%. There will be no bonus paid, if the financial targets are not achieved by
80% or more. In case of an 80% or more achievement, the amount of bonus will be calculated
on a linear basis to the target. The effective bonus can reach 150% of the target bonus as a
maximum. As part of the merger with 3S Industries Ltd, the Executive Board of Meyer Burger
Technology Ltd was expanded by two Executive members of the merged company. The two
new members of the Executive Board hold the positions of CTO and CIO. To ensure a smooth
integration of 3S Industries Ltd and its subsidiaries, the target weightings for the CTO and CIO
for fiscal year 2010 have been adjusted with targets for the previous 3S Group. Their target
weightings were: 40% financial targets of the Company, 30% financial targets of the previous
3S Group, 30% individual “non financial” targets. For fiscal year 2011, the target weightings for
the CTO and CIO will be brought in line with those of the CEO and CFO.
For fiscal year 2010, the allotment of the performance­related component (bonus in cash) as
a percentage of the base salary was 119% for the CEO (2009: 100%) and between 67% to
78% for the other members of the Executive Board (2009: 47% for the CFO).
In addition, the Board of Directors can issue shares (until fiscal year 2009: options) to the
members of the Executive Board as well as to other members of the management team, depending
on management level and individual function, to reward their achievements and for
the purpose of retaining key contributors. The amount of shares allocated during fiscal year
2010 has been decided by the Nomination & Compensation Committee, based on a special
decision by the Board of Directors, and was finally approved by the Board of Directors. The
Company also pays certain allowances in kind and social benefits. The amounts for the base
salaries, for the performance­related components and for the possible allotment of shares is
decided upon by the entire Board of Directors, based on the proposal by the Nomination &
Compensation Committee, using dutiful judgement. The Board of Directors did neither use
external consultants nor particular surveys, when deciding upon these amounts.
The changes in the total amount of compensation for the members of the Executive Board
(please refer to page 133 in the financial statements of this Annual Report) are mainly due to
the expansion of the Executive Board as well as due to the differences in valuation between
the allocated shares (in fiscal year 2010) and the allocated options in the previous fiscal year.
Neither the members of the Board of Directors nor the members of the Executive Board have
any contracts with specific severance payments or contracts with particularly long termination
terms (contracts with the members of the Executive Board have termination terms of six
and twelve months, respectively).

64 Meyer Burger Annual Report 2010
The shares allocated in December 2010 forfeit
a) in the event that the employee gives his/her notice or ends the employment relationship
prior to the expiration of the vesting period (2 years). Exceptions to this rule are the ending
the employment relationship as a result of retirement, death or permanent incapacity for
work due to invalidity on the part of the eligible employee and where the employee gives
his/her notice with valid reasons for which the employer must bear responsibility (along the
lines with Article 340c of the Swiss Code of Obligations)
b) in the event that the employer gives notice to terminate the working relationship prior to
expiration of the vesting period. Exceptions to this rule are the giving of notice where the
employee has not provided valid reasons (along the lines with Article 240c of the Swiss
Code of Obligations), in particular the giving of notice for financial/economic reasons
c) in the event of the voluntary resignation of a member of the Board of Directors, or deselection
(assuming that this is on justified reasons attributable to the member of the
Board of Directors in question) by a Meeting of Shareholders prior to expiration of the vesting
period (2 years), to the extent the resignation is not at the request of the Company and
there are no valid reasons for this attributable to the member of the Board of Directors.
d) in the event that shares forfeit, the eligible participant receives reimbursement in the
amount of the acquisition price paid, without interest. Members of the Board of Directors,
members of the Executive Board and employees are all treated equally.
5.2 Compensation, shareholdings and loans
Details to the compensation, shareholdings and loans to acting and former members of the
Board of Directors and of the Executive Board are reported in detail within the financial statements
of this Annual Report on pages 131 to 136.
6. Shareholders’ participation rights
6.1 Voting rights restrictions and representation
Each share is entitled to one vote. The shareholder rights can be exercised by anyone who is
registered in the share register as a shareholder 30 days prior to the General Meeting of
Shareholders and who has not sold his shares until the end of the General Meeting of Shareholders.
A shareholder may be represented at the General Meeting of Shareholders by a person with
written power of attorney, who does not need to be a shareholder. All shares held directly or
indirectly by a shareholder can only be represented by one person. For voting rights of nominees
please refer to section “Limitations on transferability and nominee registrations” on
page 43 of this Annual Report.
6.2 Statutory quorums
The General Meeting of Shareholders drafts its resolutions and performs its votes on the
basis of the absolute majority of the voting rights represented. At least two thirds of the votes
represented and the absolute majority of the nominal value of shares represented is required,
among others, for resolutions in accordance with Article 704 paragraph 1 and 2 of the Swiss
Code of Obligations (OR).

Report FY 2010 Corporate Governance Financial Report Other Information 65
6.3 Convocation of a General Meeting of Shareholders
The convocation of a General Meeting of Shareholders will take place by means of the pub­
lication of an invitation in the Swiss Official Gazette of Commerce at least 20 days prior to the
date of the Meeting. In addition, shareholders who are registered in the share register will receive
a written invitation from the Company to participate at the General Meeting of Shareholders.
The invitation must include the motions and the proposals by the Board of Directors
and of those shareholders, who have requested either the convocation of a Meeting or the inclusion
of a certain motion on the agenda.
6.4 Agenda
Shareholders representing shares that account for at least 10% of the voting rights may re­
quest the inclusion of an item on the agenda of the General Meeting of Shareholders. Such
requests must be submitted to the Board of Directors at least 45 days prior to the General
Meeting of Shareholders in writing, specifying the items and proposals to appear on the
agenda.
Requests with regard to motions that have not been properly announced may be permitted
for discussion, if the General Meeting of Shareholders concludes to do so. It will not be possible,
however, to take a decision on such a request until the next General Meeting of Shareholders.
This rule does not apply for requests of an Extraordinary General Meeting or for the
performance of a special audit.
No prior notice is required for requests regarding motions that are on the agenda.
6.5 Registration into the share register
No entries will be made in the share register for a period of 30 days prior to a General Meet­
ing of Shareholders, including the day after the General Meeting.
7. Change of control and defence measures
7.1 Duty to make an offer
There are no statutory regulations with regard to opting­out (Article 22 Stock Exchange Act
SESTA) or opting­up (Article 32 paragraph 1 SESTA).
7.2 Clauses on changes of control
In case that a third party would acquire more than 33 1 /3% of voting rights of Meyer Burger
Technology Ltd, the vesting periods and/or retention periods for employee shares and/or op­
tions set by the Board of Directors shall be accelerated so that any unvested share or option
shall be immediately vested in full. The vesting would take place on the first day of the grace
period in case of a successful public tender offer. There are no further clauses regarding a
change of control that would favour the members of the Board of Directors or the members
of the Executive Board.

66 Meyer Burger Annual Report 2010
8. Auditors
8.1 Duration of the mandate and term of office of the lead auditor
The auditors for the Company have been PricewaterhouseCoopers AG, Bälliz 64, CH­3600
Thun, since fiscal year 2003. The lead auditor, Hanspeter Gerber, has been responsible for
the audit mandate since September 2006. The auditors have to be elected each year by the
General Meeting of Shareholders.
8.2 Auditing fees
The auditing fees of PricewaterhouseCoopers, for services related to the audit of the an­
nual financial statements of Meyer Burger Technology Ltd and its subsidiaries and of the
consolidated statements of Meyer Burger Group, as well as the review of the Half­Year
Report, amount to a total of approximately TCHF 477 for fiscal year 2010. In addition, the
auditors charged auditing fees of approximately TCHF 121 in conjunction with the merger
with 3S Industries Ltd.
8.3 Additional fees
Additional fees of PricewaterhouseCoopers for further services during fiscal year 2010:
Fiscal representation in Norway (fiscal invoicing in Norway) TCHF 75
Consulting services regarding VAT TCHF 10
Other TCHF 4
Total TCHF 89
8.4 Supervisory and control instruments vis-à-vis the auditors
The Risk & Audit Committee examines once per year the auditing concept, the auditing plan
and the fee structure, as well as the auditors independence from the Company.
The external auditors perform at least once per year a detailed audit report and brief the Risk
& Audit Committee extensively. The important statements and recommendations in the audit
reports compiled by the external auditors are then discussed in detail with the entire Board of
Directors and the Executive Board.
In fiscal year 2010, the external auditors performed two detailed audit reports (one each for
the half year and the fiscal year reporting). Representatives of the external auditors participated
in two meetings of the Risk & Audit Committee. Representatives of the internal audit of
Meyer Burger Technology Ltd also participated at these two meetings, as well as at one more
meeting of the Risk & Audit Committee.

Report FY 2010 Corporate Governance Financial Report Other Information 67
The Board of Directors verifies once per year the selection of potential auditors, in order to
propose the preferred audit firm for election to the shareholders at the General Meeting of
Shareholders. The Risk & Audit Committee evaluates the effectiveness of the auditors in accordance
with the Swiss law. In this evaluation, the Risk & Audit Committee attaches great
importance to the following criteria: Independence of the external auditors (personal independence
of the lead auditor and independence of the audit firm in general), understanding of the
Company’s business areas, sufficient resources set aside by the auditors, practical recommendations
for the implementation of regulations in accordance with Swiss law and IFRS,
global network of the auditors, understanding of the specific business risks of the Company,
focus of the audit within the audit programme, cooperation with the Risk & Audit Committee,
as well as with the internal audit and the Executive Board.
The Board of Directors follows the regulations of the Swiss Code of Obligations with regards
to the rotation intervals of the lead auditor, i.e. the lead auditor will be rotated every seven
years.
The Risk & Audit Committee also examines the proportion between the auditing fee for the
annual financial statements and the additional non­audit services performed by the auditors.
The Committee will examine potential consequences regarding the independence of the
auditors. The Executive Board is permitted to assign non­audit mandates to the auditors up
to an amount of TCHF 50. Any non­audit mandates exceeding this amount must be approved
by the Risk & Audit Committee prior to the assignment. The auditing fee for the annual audit
mandate is finally approved by the entire Board of Directors.
During 2010 as well as in the previous year, the Company has especially assigned tax consultancy
services to another internationally active consultancy and audit group. For fiscal year
2010, the Board of Directors concluded that the independence of the auditors was fully ensured
at all times.
9. Information Policy
Meyer Burger Technology Ltd communicates openly and transparently and treats sharehold­
ers, analysts, business partners, employees and the public equally when it promptly informs
about any development in the Company.
Meyer Burger Technology Ltd publishes its results in an annual report and an interim report,
as well as through press releases. When the annual results are released, the Company organises
a physical conference for the media and the financial community to discuss details of
the reported earnings and, depending on the occasion an additional conference call will be
held. For the interim results, the Company organises either a physical conference or a conference
call. The Company’s financial reports are available on the Company website in electronic
form or can be ordered from the Company in print form.
Official notices are published in the Swiss Official Gazette of Commerce (Schweizerisches
Handelsamtsblatt). Publications in conjunction with the listing of the registered shares at SIX
Swiss Exchange are made in accordance with the listing rules of SIX Swiss Exchange. The
rules can be viewed under http://www.six­exchange­regulation.com/admission_en.html
(Admission).

68
Detailed information regarding disclosure notices is available under www.six­swiss­exchange.
com, Product Search “MBTN”, Overview, Major Shareholders. Price sensitive information is
published according to the ad­hoc publicity rules. The modalities for distribution of ad­hoc
press releases (the so called push and pull systems) have been implemented in accordance
with the ad­hoc publicity rules of SIX Swiss Exchange.
The press releases can be viewed under
http://www.meyerburger.com/en/investor­relations/ad­hoc­commercial­news/
Meyer Burger Annual Report 2010
The contact form to subscribe for direct receipt of the ad hoc press releases is available
under http://www.meyerburger.com/en/investor­relations/news­service/
Information to transactions with shares of the Company by members of the Board of Directors
and members of the Executive Board are published under www.six­swiss­exchange.
com, Product Search “MBTN”, Overview, Management Transactions.
The Articles of Association of the Company (in German language only) are available under
http://www.meyerburger.com/en/investor­relations/articles­of­incorporation/
For details regarding the investor relations contacts, as well as an agenda of important dates
for fiscal year 2011 please refer to page 151 of this Annual Report.

Report FY 2010 Corporate Governance Financial Report Other Information
Table of Contents
Financial Report
70 Consolidated balance sheet
71 Consolidated income statement
72 Consolidated statement of other comprehensive income
73 Consolidated cash flow statement
74 Consolidated statement of changes in equity
76 Notes to the consolidated financial statements
138 Report of the auditors
140 Balance Sheet
141 Income statement
142 Notes to the financial statements
147 Proposal by the Board of Directors for the allocation of retained earnings
148 Report of the auditors
Other information
150 Five-year summary
151 Information for investors and media
152 Addresses
69

70 Meyer Burger Annual Report 2010
Consolidated Financial Statements
Consolidated balance sheet
in TCHF Notes 31.12.2010 31.12.2009
6.x
Assets
Current assets
Cash and cash equivalents 1 393 543 96 610
Trade receivables 2 36 937 27 722
Net assets from construction contracts 3 5 859 –
Other receivables 2 42 727 36 330
Current tax assets 6 155 123
Financial assets 4 / 5 / 6 / 7 314 588
Inventories 8 139 028 121 487
Available­for­sale financial assets 9 – 885
Total current assets
Long-term assets
624 564 58.5% 283 745 61.7%
Other receivables 2 3 078 –
Financial assets 4 / 5 / 6 / 7 186 1 457
Property, plant and equipment 10 34 171 25 508
Intangible assets 11 395 385 146 225
Deferred tax assets 16 9 414 3 260
Total long-term assets 442 234 41.5% 176 450 38.3%
Total assets 1 066 799 100.0% 460 195 100.0%
Liabilities and equity
Liabilities
Current liabilities
Financial liabilities 12 582 23 421
Trade payables 77 565 39 309
Customer prepayments 231 087 77 754
Other liabilities 14 29 044 15 910
Provisions 13 17 591 10 356
Current income tax liabilities 16 431 11 428
Total current liabilites
Non-current liabilities
372 300 34.9% 178 178 38.7%
Financial liabilities 12 310 59 478
Provisions 13 4 273 416
Retirement benefit obligation 15 3 989 817
Deferred tax liabilities 16 41 365 24 461
Other liabilities 14 1 634 558
Total non-current liabilities 51 572 4.8% 85 730 18.6%
Total liabilities
Equity
423 872 39.7% 263 908 57.3%
Share capital 17 2 279 1 605
Capital reserves 448 521 91 806
Treasury shares (574) –
Reserve for share­based compensation 18 19 665 5 420
Retained earnings 195 986 98 038
Other reserves (22 955) (581)
Total equity excl. minority interests 642 923 60.3% 196 287 42.7%
Minority interests 4 –
Total equity incl. minority interests 642 927 60.3% 196 287 42.7%
Total liabilities and equity 1 066 799 100.0% 460 195 100.0%
The Notes starting on page 76 are an integral part of the consolidated financial statements.

Report FY 2010 Corporate Governance Financial Report Other Information
Consolidated income statement
in TCHF Notes 1.1.–31.12.2010 1.1.–31.12.2009
Net sales
6.x
19 826 005 100.0% 420 943 100.0%
Changes in inventories of finished products and work in process 122 535 (31 128)
Other income 20 23 723 16 999
Income 972 262 406 814
Costs of products and services of subcontractors (563 511) (236 737)
Gross profit 408 752 49.5% 170 076 40.4%
Personnel expenses 21 (133 859) (66 801)
Other operating expenses 22 (87 357) (39 952)
Earnings before interests, taxes, depreciation and amortisation (EBITDA) 187 535 22.7% 63 323 15.0%
Depreciation and amortisation 10 / 11 (59 684) (22 009)
Earnings before interest and taxes (EBIT) 127 851 15.5% 41 314 9.8%
Financial income 23 3 122 782
Financial expenses 23 (37 604) (2 779)
Earnings before taxes (EBT) 93 369 11.3% 39 317 9.3%
Income taxes 24 4 580 (10 139)
Earnings from continuing operations 97 949 11.9% 29 177 6.9%
Earnings from discontinued operations – –
Group earnings 97 949 11.9% 29 177 6.9%
Attributable to
Shareholders of Meyer Burger Technology Ltd 97 948 29 177
Minority interests 1 –
Earnings per share in CHF
Basic earnings per share 26 2.22 0.95
Diluted earnings per share 26 2.18 0.94
The Notes starting on page 76 are an integral part of the consolidated financial statements.
EBITDA, EBIT and EBT are non­IFRS financial measures.
71

72 Meyer Burger Annual Report 2010
Consolidated statement of other
comprehensive income
in TCHF 1.1.–31.12.2010 1.1.–31.12.2009
Group earnings
Other comprehensive income
97 949
29 177
Currency translation differences (22 373) (1 277)
Total other comprehensive income (22 373) (1 277)
Total comprehensive income 75 576 27 900
Attributable to
Shareholders of Meyer Burger Technology Ltd 75 575 27 900
Minority interests 1 –
The Notes starting on page 76 are an integral part of the consolidated financial statements.

Report FY 2010 Corporate Governance Financial Report Other Information
Consolidated cash flow statement
in TCHF Notes 1.1.–31.12.2010 1.1.–31.12.2009
6.x
Group earnings
97 949
29 177
Income taxes 24 (4 580) 10 139
Financial result 23 34 482 1 998
Depreciation, amortisation and impairments (net) 10 / 11 59 684 22 009
Gain / loss from sale of property, plant, equipment and intangible assets 20 / 22 (1 123) –
Interest received 1 955 689
Interest paid (3 483) (705)
Income taxes paid (22 274) (14 634)
Tax reimbursement received 6 286 –
Decrease / (increase) in trade receivables 2 3 423 29 161
Decrease / (increase) of net assets from contribution contracts 3 (5 859) –
Decrease / (increase) in inventories 8 4 694 44 985
Decrease / (increase) in other receivables (673) 1 413
Increase / (decrease) in provisions 13 7 283 3 387
Increase / (decrease) in current financial liabilities 58 27
Increase / (decrease) in non­current financial liabilities 73 –
Increase / (decrease) in trade payables 27 511 16 908
Increase / (decrease) in customer prepayments 152 886 (67 414)
Increase / (decrease) in other liabilities 4 094 (16 668)
Other non­cash related changes (14 865) (5 207)
Cash flow from operating activities (operative cash flow) 347 520 55 265
Purchase / sale of financial assets (available­for­sale and loans) 4 2 649 (193)
Investments in property, plant and equipment 10 (16 495) (5 845)
Sale of property, plant and equipment 10 3 238 6 615
Investments in intangible assets 11 (1 256) (2 369)
Sale of intangible assets 11 – 1
Increase in cash from merger with 3S Industries Ltd 30 46 924 –
Purchase of business activities of Diamond Materials Tech, Inc. – (49 003)
Purchase of remaining participation in Hennecke Systems GmbH (24 912) –
Cash flow from investing activities 10 147 (50 794)
Capital increases (incl. premium) 3 460 2 322
Purchase of treasury shares – (29)
Sale of treasury shares – 29
Issuance of (current) financial liabilities 12 – 12 650
Repayment of (current) financial liabilities 12 (23 062) (29)
Issuance of (non­current) financial liabilities 12 – 33 956
Repayment of (non­current) financial liabilities 12 (33 956) (47)
Cash flow from financing activities (53 557) 48 851
Change in cash and cash equivalents 304 109 53 322
Cash and cash equivalents at beginning of period 1 96 610 43 739
Currency translation differences on cash and cash equivalents (7 177) (451)
Cash and cash equivalents at end of period 1 393 543 96 610
The Notes starting on page 76 are an integral part of the consolidated financial statements.
73

74 Meyer Burger Annual Report 2010
in TCHF
Attributable to shareholders of
Meyer Burger Technology Ltd
Notes
6.x
Share capital Capital reserves
Equity as of 1.1.2009
1 513
51 966
Capital increase 17 92 38 740
Purchase of treasury shares 17 – –
Sale of treasury shares – –
Share­based compensation 17 – –
Comprehensive income – –
Reclassification – 1 100
Equity as of 31.12.2009 1 605 91 806
Capital increases 17 22 3 479
Capital increase as of 14.1.2010 and exchange of shares 17 625 331 972
Capital increase as of 22.4.2010 and exchange of shares 17 27 14 311
Sale of treasury shares – –
Share­based compensation 17 – –
Comprehensive income – –
Reclassification – 6 953
Equity as of 31.12.2010 2 279 448 521
The Notes starting on page 76 are an integral part of the consolidated financial statements.
Consolidated statement of changes in equity

Report FY 2010 Corporate Governance Financial Report Other Information
Treasury shares
–
Attributable to shareholders of
Meyer Burger Technology Ltd
Reserve for
share­based
compensation Retained earnings
2 681
68 861
Currency translation
differences
696
Total equity excl.
minority interests Minority interests
125 717
–
Total equity incl.
minority interests
125 717
– – – – 38 831 – 38 831
29 – – – 29 – 29
(29) – – – (29) – (29)
– 3 839 – – 3 839 – 3 839
– – 29 177 (1 277) 27 900 – 27 900
– (1 100) – – – – –
– 5 420 98 038 (581) 196 287 – 196 287
– – – – 3 502 3 3 505
(589) 14 793 – – 346 801 – 346 801
– – – – 14 338 – 14 338
15 – – – 15 – 15
– 6 405 – – 6 405 – 6 405
– – 97 948 (22 373) 75 575 1 75 575
– (6 953) – – – – –
(574) 19 665 195 986 (22 955) 642 923 4 642 927
75

76 Meyer Burger Annual Report 2010
Notes to the consolidated financial statements
1 General information
Meyer Burger Technology Ltd is a public limited company constituted in accordance with
Swiss law. The address of the company’s registered office is: Grabenstrasse 25, 6340 Baar,
Switzerland. Meyer Burger Technology Ltd registered shares (ticker: MBTN) are listed on the
SIX Swiss Exchange in Zurich. The fiscal year of Meyer Burger Technology Ltd runs from
1 January to 31 December. These consolidated financial statements were approved for publication
by the Board of Directors on 3 March 2011. They will be submitted for approval to
the Annual General Meeting on 21 April 2011.
The Group currency (reporting currency) is the Swiss Franc (CHF). The consolidated statements
are shown in thousands of Swiss Francs.
Meyer Burger Technology Ltd is a leading, globally active technology group specialising in
innovative systems and processes for cutting and handling crystalline and other high­grade
materials.
The machines, competences and technologies of the different companies within the Group
are deployed in the solar (photovoltaics), semiconductor and optical industries. These three
market areas use ultra­thin wafers made from silicon, sapphire or other crystals for the manufacture
of solar modules, switching circuits or high­performance LEDs. The Group’s core
competencies cover a wide range of production processes, machines and systems deployed
within the value chain for the manufacture of high­quality wafers. Since its merger in January
2010 with 3S Industries Ltd, the global market leader in turnkey production systems and
single equipment for the manufacture of solar modules, the Group also covers the entire
value chain of solar module production and combines the key technologies of soldering, laminating
and testing under one roof. Module manufacturers all over the world use Somont’s
string soldering machines, 3S’s laminating lines and Pasan’s testing technologies to produce
solar modules whose performance, operating life and quality meet the highest demands. The
Group’s comprehensive range of products includes a worldwide service network with wear
and tear parts, consumables, re­grooving services, process know­how, servicing, after­sales
services, training and other services. As a globally active company, Meyer Burger Group is
represented in Europe, Asia and North America in the respective key markets.
2 Significant accounting and valuation policies
The significant accounting and valuation policies employed in the preparation of these
consolidated financial statements are described below. The described policies have been
applied consistently to all of the reporting periods presented unless specifically stated to
the contrary.
2.1 Basis of accounting policies
The consolidated financial statements of the Meyer Burger Group have been prepared in
accordance with International Financial Reporting Standards (IFRS). All of the standards of
the IASB (International Accounting Standards Board) that had entered into force by the reporting
date and all of the valid interpretations of the IFRIC (International Financial Reporting
Interpretation Committee) have been taken into account.

Report FY 2010 Corporate Governance Financial Report Other Information
The consolidated financial statements have been prepared on the historical cost basis, with
the exception of financial instruments available­for­sale, which are stated at fair value, and
financial assets and financial liabilities including derivative financial instruments, which are
shown at fair value through profit and loss.
The preparation of the consolidated financial statements in conformity with IFRS requires that
management make judgements, estimates and assumptions that could affect the reported
amounts of assets and liabilities, income and expenses, as well as the disclosure of contingent
liabilities and contingent claims during the reporting period. While these estimates are
based on management’s best knowledge of current circumstances and possible future measures,
actual results may ultimately differ from these estimates.
These consolidated financial statements are published in German and English. The German
original version is the binding version.
2.2 Changes to accounting policies
2.2.1 New and amended standards and interpretations that have entered into force
for fiscal years beginning on or after 1 January 2010:
– Amendment to IFRS 2 “Share­Based Payment”: the amendment entered into force on
1 January 2010 and defines the distinction between equity­settled and cash­settled sharebased
payments. This change has no material effect on Meyer Burger Group's consolidated
financial statements.
– The revised standard IFRS 3 “Business Combinations”, applicable for fiscal years beginning
on or after 1 July 2009, introduces significant changes to the way in which business
combinations are reported. All anticipated purchase price payments are recognised at fair
value at the time of acquisition. Subsequent adjustments to the purchase price are then
recognised through profit and loss. Goodwill may be calculated on the basis of the majority
shareholder's proportion of net assets or alternatively inclusive of the minority interest pro­
portion. In future, all transaction costs will be recognised immediately as expenses. These
changes may have a significant influence on the financial presentation of future business
combinations. Meyer Burger Group applies IFRS 3 prospectively from 1 January 2010.
– The revised standard IAS 27 “Consolidated and Separate Financial Statements”, applicable
to financial years beginning on or after 1 July 2009, envisages that all transactions
with minority interests will be recognised within equity, as long as no change in control
has occurred. In future, neither goodwill nor profits or losses from these transactions will
be recognised. The standard redefines the circumstances and the method of reporting
in the case of a loss of control over another company. The remaining holding will be
measured at fair value through profit and loss. In addition, the total net income will be
allocated to the majority shareholder and minority interests, even if this results in a
negative amount for minority interests in equity. These changes may affect the presen­
tation of future transactions with minority interests. The Meyer Burger Group applies
IAS 27 prospectively from 1 January 2010.
77

78 Meyer Burger Annual Report 2010
Furthermore, as part of its annual improvement process, the IASB issued various minor
changes to a number of existing individual standards in April 2009. These are to be applied
to fiscal years beginning on or after 1 January 2010 and has no significant impact on Meyer
Burger Group's consolidated financial statements.
2.2.2 New and amended standards and interpretations that have entered into force
for fiscal years beginning on or after 1 January 2010 and which do not apply
to Meyer Burger Group:
– The amended standard IAS 39 “Financial Instruments: Recognition and Measurement”
entered into force for financial years beginning on or after 1 July 2009. The amendment
applies to complex hedge accounting and stipulates the conditions under which inflation
represents a risk and with regard to hedging one­sided risks using options. Currently,
Meyer Burger Group does not make any use of hedge accounting.
– The new interpretation IFRIC 17 “Distributions of Non­cash Assets to Owners” applies to
fiscal years beginning on or after 1 July 2009 and deals with the valuation of non­cash
dividends distributed to owners. Meyer Burger Group does not distribute any non­cash
dividends to its owners.
– The new interpretation IFRIC 18 “Transfers of Assets from Customers” applies to fiscal
years beginning on or after 1 July 2009 and deals with the treatment of agreements under
which an entity receives from a customer an item of property, plant and equipment or cash
for investment in property, plant and equipment for the purposes of connecting that customer
to a network. Meyer Burger Group does not engage in any such utility services for
which customers make assets available.
2.2.3 New and amended standards and interpretations that have not yet entered
into force for fiscal years beginning on or after 1 January 2010 and that have
not been applied earlier than required:
– The new standard IFRS 9 “Financial Instruments” deals with the classification and measurement
of financial assets, thereby concluding the first of three project stages. IFRS 9
will fully replace IAS 39 “Financial Instruments: Recognition and Measurement” over the
next two years. IFRS 9 simplifies the financial asset categories, reducing them in number
from four to two. This standard must be applied by 1 January 2013 at the latest, with earlier
application permitted. Meyer Burger Group is currently of the view that the new standard
will not have any material impact on its consolidated financial statements.
– The revised standard IAS 24 “Related Party Disclosures”, applicable to financial years beginning
on or after 1 January 2011, simplifies the disclosure requirements for public companies
and redefines the concept of a “related party”. Meyer Burger Group is currently of
the view that the new standard will not have any material impact on its consolidated financial
statements.

Report FY 2010 Corporate Governance Financial Report Other Information
– The amended standard IAS 32 “Financial Instruments: Presentation”, applicable as of
1 February 2010, contains new rules on the presentation of subscription rights. Meyer
Burger Group is currently of the view that the new standard will not have any material impact
on its consolidated financial statements.
– The new interpretation IFRIC 19 “Extinguishing Financial Liabilities with Equity Instruments”
applies to financial years beginning on or after 1 July 2010. In situations in which financial
liabilities are extinguished with equity instruments, the equity instruments are to be treated
as money paid. Meyer Burger Group does not currently intend extinguishing financial
liabilities with equity instruments. Meyer Burger Group is currently of the view that the new
standard will not have any material impact on its consolidated financial statements.
– The revised interpretation IFRIC 14 “IAS 19 – The Limit on a Defined Benefit Asset, Minimum
Funding Requirements and their Interaction” is applicable to financial years beginning on
or after 1 January 2011 and stipulates that voluntary payments into a pension plan, constituting
a surplus, should be recognised as an economic benefit. This can typically occur in
Switzerland in cases where pension plans have an employer contribution reserve. Meyer
Burger Group is currently of the view that the new standard will not have any material
impact on its consolidated financial statements.
2.3 Principles of consolidation
Group companies are all those companies in which Meyer Burger Technology Ltd either
directly or indirectly holds more than 50% of the voting rights or in which it has control in
another form. New Group companies are fully consolidated from the time at which control of
the company is transferred to Meyer Burger. They are deconsolidated at the point in time at
which control ceases.
Assets and liabilities as well as the income and expenses of these companies are fully consolidated.
The share of net assets and net profit or loss attributable to minority shareholders
is presented separately in the consolidated balance sheet and income statement. All material
intra­group transactions, balances, and unrealised profits and losses resulting from intragroup
transactions are eliminated.
79

80 Meyer Burger Annual Report 2010
2.4 Scope of consolidation
Company Registered office Currency Nominal
value
Participation 1
31.12.2010 31.12.2009
Meyer Burger Technology Ltd Baar, Switzerland CHF 2 279 236 100% 100%
Meyer Burger Ltd Thun, Switzerland CHF 500 000 100% 100%
Meyer Burger Machinery (Shanghai) Co. Ltd Shanghai, China CNY 1 655 400 100% 100%
Meyer Burger Systems (Shanghai) Co. Ltd Shanghai, China CNY 6 816 060 100% 0%
Meyer Burger Kabushiki Kaisha Tokyo, Japan JPY 10 000 000 100% 100%
Meyer Burger GmbH Langenfeld, Germany EUR 25 000 100% 100%
Meyer Burger Automation GmbH Langenfeld, Germany EUR 25 000 100% 100%
Meyer Burger Services GmbH Halle (Saale), Germany EUR 25 000 100% 100%
AMB Apparate + Maschinenbau GmbH Langweid, Germany EUR 30 000 100% 100%
Hennecke Systems GmbH Zülpich, Germany EUR 25 000 100% 100%
Hennecke Services GmbH Zülpich, Germany EUR 25 000 100% 100%
Meyer Burger France SAS 2 Paris, France EUR 37 000 0% 100%
MB Services AS Porsgrunn, Norway NOK 100 000 100% 100%
MB Services Pte. Ltd Singapore, Singapore SGD 1 100% 100%
Diamond Materials Tech, Inc. Colorado Springs, USA USD 100 100% 100%
MB Services Co. Ltd Taipei, Taiwan TWD 5 000 000 100% 100%
3S Swiss Solar Systems Ltd Lyss, Switzerland CHF 3 000 000 100% 0%
Pasan SA Neuenburg, Switzerland CHF 102 000 100% 0%
Somont GmbH Umkirch, Germany EUR 25 000 100% 0%
MBT Systems Ltd Tucson, USA USD 1 100% 0%
Meyer Burger S.L. Barcelona, Spain EUR 3 010 100% 0%
MB Services Co. Ltd Seoul, Korea KRW 50 000 000 100% 0%
MB Systems PVT, Ltd Pune, India INR 1 000 000 85% 0%
3S Industries Ltd. Hong Kong, Hong Kong HKD 1 100% 0%
1 The participation in capital corresponds to the voting rights.
2 Meyer Burger France SAS was liquidated in the 2010 reporting period.
2.5 Foreign currency translation
2.5.1 Foreign currency translation of financial statements of subsidiaries
in foreign currencies
Individual Group companies compile their financial statements in the local currency (functional
currency).
The balance sheets and income statements of Group companies are converted into Swiss
francs for the purposes of consolidation as follows:
− Assets (including goodwill) and liabilities at the closing rate
− Equity (excluding net income or loss for the year) at the historical rate
− Comprehensive income in equity at the average rate for the period
− Income statement incl. Group earnings at average exchange rates for the period
Foreign exchange differences arising from the conversion of financial statements of foreign
Group companies and associates are taken to equity. Any currency translation difference
existing at the time of the sale of a foreign Group company is recognised in the income
statement as part of the profit on sale.

Report FY 2010 Corporate Governance Financial Report Other Information
The following conversion rates into Swiss Francs were used during the year under review:
Balance sheet Income statement
Unit 2010 2009 2010 2009
Chinese Yuan Renminbi (CNY)
100 14.2729 15.1786 15.4031 15.8900
European Euro (EUR) 1 1.2468 1.4875 1.3831 1.5099
Japanese Yen (JPY) 100 1.1537 1.1251 1.1882 1.1602
Norwegian Kroner (NOK) 100 15.9555 17.8567 17.2628 17.2913
Singapore Dollar (SGD) 1 0.7290 0.7384 0.7648 0.7461
Taiwan Dollar (TWD) 100 3.2398 3.2192 3.3066 3.2840
US Dollar (USD) 1 0.9408 1.0378 1.0431 1.0855
Hong Kong Dollar (HKD) 1 12.0897 – 13.4256 –
Indian Rupee (INR) 100 2.0760 – 2.2761 –
Korean Won (KRW) 100 0.0832 – 0.0902 –
2.5.2 Foreign currency translation in the individual financial statements
For the initial recognition of a transaction in a foreign currency, the amount in the foreign currency
must be translated into the functional currency at the exchange rate at the time of the
transaction. Average values (e.g. monthly rates) are allowed if they represent a reasonable
approximation to the actual value.
Balance sheet items are translated as follows at the end of the reporting period:
− Monetary items at closing rate
− Non­monetary items measured at amortised cost, at historical rate
− Non­monetary items measured at fair value, at closing rate
All exchange differences must be recognised in the income statement, with the exception of
exchange differences on financial assets with equity character that fall into the “available­forsale”
category, as well as derivative financial instruments held for the purpose of cash flow
hedging.
2.6 Cash and cash equivalents
Cash and cash equivalents include all cash, postal and bank account balances, cheques and
notes receivable as well as time deposits with an original maturity of up to 90 days.
Cash and cash equivalents are reported at their nominal value.
2.7 Trade receivables
Trade receivables include all claims arising from the sale of goods or the provision of services.
Trade receivables are initially measured at fair value. Subsequent measurement is at amortised
cost less allowances. Individual allowances are used in all cases based on the specific
debtor risks in addition to other known risks. An allowance can also be made on a portfolio
basis where this is deemed appropriate on the basis of historical experience. In such a case,
the risk pattern is regularly assessed and adjusted where necessary.
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82 Meyer Burger Annual Report 2010
Changes to allowances for doubtful receivables as well as effective losses due to bad
debts are shown in other operating expenses.
2.8 Other receivables
This item includes all other receivables that do not arise from deliveries and services (e.g. VAT
credits, withholding tax credits, receivables from social insurance, etc.). Included within this
item are also payments to suppliers as well as prepaid expenses (e.g. for rent, interest, insurance
premiums, etc.).
Other receivables are initially measured at fair value. Subsequent measurement is at amortised
cost less allowances.
2.9 Financial assets
Depending on the reason for the acquisition, Meyer Burger Group classifies its financial
assets into the following categories:
2.9.1 Financial assets at fair value through profit and loss
This category is divided into two sub­categories: financial assets that are allocated as “held
for trading” or “designated” from the beginning. A financial asset is allocated to this category
if it was primarily acquired with an intention to sell the asset within a short period of time or
if management classified it accordingly. Derivative financial instruments also belong to this
category, provided they do not qualify for hedge accounting. Financial assets in this category
are shown as current assets if they are either held for trading or will most probably be
sold within 12 months of the balance sheet date.
2.9.2 Loans and receivables
Loans and receivables are non­derivative financial assets with fixed or determinable pay­
ments that are not quoted in an active market. They are classified as current assets provided
the maturity date falls no longer than 12 months after the balance sheet date. Otherwise, they
are reported as non­current assets.
Trade receivables are dealt with in Note 2.7.
2.9.3 Available-for-sale financial assets
“Available­for­sale” financial assets are any non­derivative financial assets that are not allo­
cated to the other designated categories. They are allocated to long­term assets, provided
management does not intend to sell them within 12 months of the balance sheet date.

Report FY 2010 Corporate Governance Financial Report Other Information
All financial assets, with the exception of loans, are recognised on the trade date on which
Meyer Burger Group commits to buy or sell the asset. Loans are recognised on the settlement
date. Financial assets of the category “at fair value through profit and loss” are designated
on initial recognition at fair value. Financial assets that belong to the other categories
are designated on initial recognition at fair value plus transaction costs. A financial asset is
derecognised if either the contractual rights to receive the cash flows from the financial asset
have expired, or if substantially all the risks and rewards arising from the financial asset have
been transferred to a third party. Available­for­sale financial assets and financial assets of
the category “fair value through profit and loss” are designated at fair value after their initial
recognition. Loans are measured at amortised cost using the effective interest method.
Gains or losses from financial assets at fair value through profit and loss are recognised in the
income statement, in the financial result for the period, in which they arise. Dividends from
“available­for­sale” equity instruments are recognised in the income statement upon establishment
of the right to receive payment. Changes in the fair value of monetary financial
assets that are classified as “available­for­sale” are divided into currency translation differ­
ences, changes to amortised cost through profit and loss, and other changes to the carrying
amount without any effect on profit and loss. Changes in the fair value of non­monetary financial
assets that are designated as “available­for­sale” are recorded under Other comprehensive
income without any effect on profit and loss.
If financial assets that are classified as “available­for­sale” are sold or become impaired, the
cumulative recognised remeasurement of the fair value previously booked to Other reserves is
recognised in the income statement.
The fair value of listed holdings is measured according to the current bid price in the market.
If there is no active market for a financial asset or the asset concerned is not listed, the fair
value is calculated using appropriate valuation methods. These include reference to recent at
arm's length market transactions between independent parties, use of the current fair value
of other instruments that are substantially the same, discounted cash flow (DCF) analysis,
and option pricing models that as far as possible reflect market conditions and exclude as far
as possible company­specific data.
A check is carried out at each balance sheet date to assess if there is any objective evidence
of impairment of a financial asset or a group of financial assets. If such evidence exists for
“available­for­sale” financial assets, the cumulative loss – measured as the difference between
cost and current fair value less any impairments recognised in relation to the financial
asset concerned – will be booked out of Other reserves and recognised in the income statement.
Impairments relating to financial assets with equity character recognised through
profit and loss may no longer be made good through profit and loss, but must be reported
directly under Other reserves and are only recognised through profit and loss when the
instrument is sold.
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84 Meyer Burger Annual Report 2010
2.9.4 Derivative financial instruments
Derivative financial instruments are designated upon initial recognition at the time of the con­
tract being concluded at fair value, and are subsequently carried at fair value at each balance
sheet date. The profit or loss resulting from the measurement is immediately recognised in
the income statement unless the derivative is designated as and effective as a hedging instrument
within the framework of hedge accounting. The timing of the recognition in the income
statement of the measurement results depends on the type of hedging relationship. Meyer
Burger Group may designate individual derivative financial instruments to hedge the fair value
of balance­sheet assets, liabilities or fixed obligations, or to hedge transactions that are expected
with a high degree of probability or the foreign­currency risk of fixed obligations (hedging
cash flows).
Where hedge accounting is used, the effective portion of changes in the fair value of derivative
financial instruments is recognised in Other reserves. The ineffective portion of such
changes in fair value is, however, recognised directly in the income statement. Accrued
amounts in Other reserves are recycled to the income statement and recognised as income
during the period in which the underlying hedged transaction affects profit and loss (e.g. at
the time at which a future hedged sale occurs). If the future transaction is no longer expected
to occur, the cumulative profit or loss booked to Other reserves is immediately recognised in
the income statement.
Derivative financial instruments that are used as hedging instruments as part of the Meyer
Burger Group’s risk strategy and that do not meet the strict criteria of hedge accounting at
inception are allocated to the category “fair value through profit and loss” and recognised as
profit or loss.
Derivative financial instruments with positive replacement values are reported under financial
assets, while derivative financial instruments with negative replacement values are reported
under financial liabilities.
2.10 Inventories
Depending on the stage of completion of the individual products and their purpose, inventories
are broken down into raw materials, purchased parts and goods for resale, goods in
consignment, semi­finished goods and work in process, finished goods and machines before
acceptance.
Raw materials, purchased parts, goods for resale and goods in consignment are measured
at weighted average cost or lower net selling price. Semi­finished goods, work in process,
finished goods and machines before acceptance are measured at cost of production or lower
net selling price. The lower net selling price corresponds to the estimated sales price less
direct sales costs and where applicable costs of completion.
Allowances are made for overly high levels of inventories that in all probability cannot be sold,
for inventories where there is no or virtually no inventory turnover, and for damaged and
unsalable inventories.

Report FY 2010 Corporate Governance Financial Report Other Information
Customer prepayments directly attributable to a machine or an order are recognised as de­
ductions in inventories, but only up to the amount of the recognised value of the goods.
2.11 Construction contracts
Construction contracts are contracts for the construction of customer­specific assets or
groups of assets, which normally extend over several reporting periods.
Construction contracts are measured using the percentage­of­completion (PoC) method.
The degree of completion is calculated individually for each construction contract and corresponds
to the ratio of construction costs incurred up until the closing date to the estimated
overall construction costs at that date. The costs incurred and the realised net income calculated
on the basis of the stage of completion are recognised in the income statement. In the
balance sheet, the accrued costs plus the proportion of profit minus customer prepayments
are shown as net assets or net liabilities from construction contracts.
2.12 Long-term assets held for sale
A long­term asset or disposal group held for sale is reclassified as “long­term assets held
for sale” if the asset can be sold immediately in its current condition, the sale is made under
conditions that are usual and customary for such a sale, and the conclusion of the sale is
highly probable.
A long­term asset or disposal group held for sale is measured at the lower of its carrying
amount or fair value less costs to sell. As soon as assets are classified “as held for sale”,
regular depreciation of such assets must cease.
The liabilities of a long­term asset or disposal group classified as held for sale are disclosed
separately from other liabilities in the balance sheet. Those assets and liabilities may not be
offset and disclosed as a single amount.
2.13 Investments in associates
An investment in an associate is normally said to exist when a company holds between 20%
and 50% of the voting rights. Nonetheless, it is also possible that a holding of less than 20%
of the voting rights can represent an investment in an associate if the investor is able to exercise
significant influence.
Investments in associates are recorded using the equity method. Upon initial recognition of
an investment in an associate, the acquired investment is carried at cost. The goodwill paid
for an associate is included in the carrying amount of the respective investment. The investment
in the associate is adjusted thereafter for the post­acquisition change in the investor’s
share of the net assets.
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86 Meyer Burger Annual Report 2010
2.14 Property, plant and equipment
Property, plant and equipment include land, property used for operational purposes,
facilities, machinery, IT and vehicles, as well as plant and equipment under construction.
Property, plant and equipment are measured at their purchase price or construction costs
less scheduled accumulated depreciation and accumulated impairment losses.
Scheduled depreciation is generally carried out using the straight­line method over the following
expected useful lives:
Useful life in years
Land
No depreciation
Properties used for operational purposes 10–30
Facilities 5
Machinery 3–10
IT 3
Vehicles 4–8
As soon as components of a fixed asset are shown to have differing useful lives or to be useful
in different forms, the purchase price or construction costs is/are divided and allocated
to the significant components.
2.15 Intangible assets
Intangible assets relate in particular to goodwill, development costs, acquired software, pat­
ents, licenses and intangible assets from acquisitions. The intangible assets from acquisitions
include measured technologies, customer relationships, brands and orders.
Goodwill is valued at the cost of acquisition less any impairment losses. Goodwill is allocated
to the cash­generating unit and not amortised on a linear basis, but tested annually for impairment.
Intangible assets from acquisitions (for example, technology or customer relationships) are
reported at fair value at the time of acquisition and then amortised using the straight­line
method over the scheduled useful life of the asset or amortised in relation to the expected
sales during the planned useful life of the asset.
Development costs are capitalised if they relate to a project that is technically feasible, if a
future inflow of benefits is probable and if the costs can be reliably determined. Research
costs are recognised as expenses.
Development costs as well as all other intangible assets are reported at their purchase price
or construction costs less cumulative scheduled amortisation and cumulative impairment
charges.

Report FY 2010 Corporate Governance Financial Report Other Information
Intangible assets from acquisitions are amortised over the following useful lives:
Useful life in years
Order backlog
1–2
Technologies 6–10
Customer relationships 6–10
Brands 6–10
The assets are amortised on a straight­line basis over the planned useful life or in relation to
the expected sales over the planned useful life. Software is amortised over three years using
the straight­line method. All other intangible assets are amortised over their expected useful
life subject to a maximum of ten years.
In the event that an intangible asset does not have a determinable useful life and therefore
cannot be amortised on a straight­line basis, an annual test for impairment is conducted.
2.16 Income taxes
Income taxes on the result comprise current and deferred income taxes.
Current income taxes are the expected taxes payable on the taxable income for the year of
the respective Group companies including any adjustment to taxes payable in respect of
previous years. Current income taxes are recorded on accrued basis.
Deferred income taxes are recognised using the liability method, providing for temporary differences
(valuation differences) between the tax bases of assets and liabilities and their carrying
amounts for financial reporting purposes under IFRS. However, if the deferred income
taxes arise from initial recognition of an asset or liability in a transaction other than a business
combination that at the time of the transaction affects neither accounting nor taxable profit/
loss, they are not accounted for either at the point of initial recognition or thereafter. Deferred
income taxes are determined using tax rates and laws that have been enacted or substantially
enacted by the balance sheet date and are expected to apply when the related deferred
income tax asset is realised or the deferred income tax liability is settled.
Deferred income tax assets are recognised to the extent that it is probable that future taxable
profit will be available against which the temporary difference or a loss carry­forward can be
utilised.
Deferred income tax liabilities are recognised on temporary differences arising on investments
in subsidiaries and associates, except where the timing of the reversal of the temporary
difference can be determined by Meyer Burger Group and it is probable that the temporary
difference will not reverse in the foreseeable future due to this influence.
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88 Meyer Burger Annual Report 2010
2.17 Financial liabilities
Financial liabilities are divided into current and non­current depending on the time to ma­
turity, and include in particular liabilities to banks, derivative financial instruments, liabilities
from finance leases, loans and mortgages.
Financial liabilities are valued at cost less transaction costs. Subsequent measurement is at
amortised cost using the effective interest rate method.
Also shown within Financial liabilities are the negative replacement values of derivative financial
instruments (see Note 2.9).
Finance leases are discussed in Note 2.27.
2.18 Trade payables
Trade payables are recognised when a legal obligation to pay cash arises due to prior perfor­
mance.
Trade payables are recognised at amortised cost, which is generally the nominal value.
2.19 Customer prepayments
A prepayment is a non­interest­bearing payment by a customer under an existing contract for
construction and/or delivery of products and services.
Customer prepayments are recognised at amortised cost, corresponding to the nominal
value.
Customer prepayments directly attributable to a machine (or order) or a long­term construction
contract are recognised as deductions in inventories or in long­term construction
contracts.
2.20 Other liabilities
Other liabilities include non­interest bearing liabilities, in particular VAT liabilities, liabilities
for social security payments, current and non­current employee benefits (e.g. accrued paid
annual leave and overtime, profit­sharing, bonuses, etc.) as well as accrued expenses and
prepaid income.
Other liabilities are measured at cost, which is generally the nominal value. Subsequent
measurement is made at amortised cost, which is generally also the nominal value.
2.21 Provisions and contingent liabilities
Meyer Burger makes a distinction between the following categories of provisions: warranties,
provisions for restructuring, onerous contracts, legal cases and other provisions.

Report FY 2010 Corporate Governance Financial Report Other Information
Provisions are only recognised if there is a present obligation to third parties as a result of a
past event, a reliable estimate can be made of the amount of the obligation, and an outflow
of resources is probable. If an obligation cannot be estimated with sufficient reliability, it is
shown as a contingent liability but not recognised.
A provision is measured on the best estimate concept, i.e. the amount recognised as a provision
is the best estimate of the expenditure required to settle the present obligation on the
balance sheet date. The amount of a provision is reviewed for appropriateness at every balance
sheet date. Non­current provisions are discounted.
2.22 Equity
Equity includes share capital, capital reserves, treasury stock, the reserve for share­based
payments, retained earnings, other reserves and minority interests in equity.
Share capital is the par value of all outstanding shares.
Capital reserves contain payments by shareholders in excess of par. This is the premium,
reduced by the excess value over par of cancelled treasury stock. Gains and losses realised
on the sale of treasury stock are also recognised directly in the capital reserves.
Treasury stock comprises shares in Meyer Burger Technology Ltd held by Meyer Burger
Technology Ltd itself or indirectly through a Group company. Treasury stock is recognised at
cost and is not remeasured at the end of a reporting period.
The reserve for share­based payments includes the fair value of options granted to the
Executive Board, the Board of Directors and key employees and recognised over the vesting
period.
Retained earnings are profits of the Meyer Burger Group that are not distributed as dividends
and that are freely available for the greater part. They include the legal, statutory and free
reserves.
Other reserves include currency translation differences from translating financial statements
of foreign subsidiaries, fair value adjustments of financial assets held for sale, fair value adjustments
of derivative financial instruments held for cash flow hedging, the share in other
comprehensive income of associates, as well as the income tax influence on other comprehensive
income.
The minority interests in equity include the part of Group company equity that is attributable
directly or indirectly to third­party shareholders.
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90 Meyer Burger Annual Report 2010
2.23 Revenue recognition
Revenue corresponds to the fair value of the consideration received or receivable from the sale
of goods and services. Revenue is recognised net of sales or other goods and services taxes,
deductions of credit notes, returns and discounts.
Appropriate provisions are created for expected warranty claims arising from the sale of goods
and services.
Revenue is recognised when the amount of revenue can be measured with reliability and when
it is probable that the future economic benefits that are associated with the transaction will flow
to the company and the following specific criteria are fulfilled:
Net revenue from the sale of machinery is recognised after deduction of revenue reductions at
the time of the sale to the customer, at the point when the risks and rewards of ownership of
the product are transferred to the buyer. Net revenue from long­term construction contracts is
measured using the percentage­of­completion (PoC) method.
Net revenue from service agreements is recognised on the basis of the proportion of services
performed by the balance sheet date.
Net interest income is recognised using the effective interest rate method in a period­compliant
manner; dividend income is recognised as soon as a legal right to payment is established.
2.24 Share-based payments
A share­based payment is a transaction in which an entity receives goods or services as
consideration for equity instruments of the entity, or acquires goods or services by incurring
liabilities to the supplier of those goods or services for amounts that are based on the price
of the entity’s shares or other equity instruments of the entity. The accounting treatment for
share­based payments depends on how the transaction is settled, namely whether it is settled
with equity instruments or with cash. Meyer Burger Technology Ltd makes share­based
payments settled with equity instruments. The fair value at the time of the shares or options
being issued is recognised in personnel expenses at the time of issuance or, where appropriate,
over the vesting period.
2.25 Business combinations
All business combinations are recognised in accordance with the purchase method. The
purchase costs of an acquisition comprise the fair value at the acquisition date of the assets
acquired, the liabilities entered into or assumed and any equity instruments issued. The costs
arising from the business combination are charged to the income statement. The identifiable
assets acquired or liabilities and contingent liabilities assumed in a business combination are
recognised at fair value at the time of the first consolidation regardless of any minority interests.
If the acquisition costs exceed the fair value of the share of the net assets of the company
acquired by Meyer Burger Group, this difference will be recognised as goodwill and
allocated to cash­generating units. If the acquisition costs are lower than the fair value of the
share of the net assets of the acquired subsidiary, the difference is recognised directly in the
income statement. Minority interests are measured either by the full goodwill method using fair
value or the proportionate share of the net assets.

Report FY 2010 Corporate Governance Financial Report Other Information
2.26 Segmentation
Operational segments are disclosed on the same basis as that used for internal report­
ing to the management bodies responsible for decision making. The Executive Board, as
the executive decision­making body, reviews the allocation of resources and performance
assessment.
2.27 Leases
A fundamental distinction is made between finance leases and operating leases.
A finance lease must be recognised in the balance sheet and generally transfers substantially
all the risks and rewards incidental to ownership of the leased asset to the lessee on conclusion
of the leasing agreement. These transactions are capitalised at the lower of the present
value of future leasing payments or the fair value of the assets and depreciated over the
shorter of the estimated useful life or the lease term. The particular liability is then periodically
reduced by the amortisation portion of the lease payment and, depending on the due date,
allocated to either non­current or current financial liabilities. The finance charge portion of the
lease payment is recognised as a financial expense.
All leases that do not qualify as finance leases are deemed to be operating leases and are
treated in the same way as normal rent, i.e. the resultant payments are recognised as an
expense in the income statement over the lease term on a straight­line basis.
2.28 Government grants
A government grant is not recognised until there is reasonable assurance that the con­
ditions attaching to it will be fulfilled, and that the grant will be received.
Government grants relating to assets are presented as a deduction from the carrying
amount of the asset. Grants relating to income are deducted from the related expense.
2.29 Borrowing costs
Borrowing costs comprise interest and other costs incurred in connection with the borrowing
of funds.
Borrowing costs that are directly attributable to the acquisition, construction or production of
a qualifying asset are capitalised as part of the cost of that asset.
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92 Meyer Burger Annual Report 2010
2.30 Impairment of non-financial assets
Non­financial assets are assessed on each balance sheet date for any indication of impair­
ment. If any such indication exists, a check is carried out to determine whether the asset
could be impaired, i.e. whether the carrying amount could exceed the higher of the asset’s
fair value less costs to sell and its value in use. If this is the case, the appropriate impairment
loss is recognised.
The same method is applied to reversals of impairment losses as to identifying impairment,
i.e. a review is carried out on each reporting date to assess whether there are indications that
an impairment loss might no longer exist or might have decreased. If this is the case, the
amount of the decrease in impairment loss is determined (difference between recoverable
amount and net carrying amount) and the impairment reversed accordingly.
Goodwill is tested for potential impairment annually.
For the purpose of impairment testing, goodwill acquired in a business combination must,
from the acquisition date, be allocated to each of the acquirer’s cash­generating units, or
groups of cash­generating units, that are expected to benefit from the synergies of the combination,
irrespective of whether other assets or liabilities of the acquiree are assigned to
those units or groups of units.
Impairment may not be reversed for goodwill.
2.31 Pension plans
Meyer Burger Group has a range of pension plans designed to take account of local condi­
tions in individual countries. The Group operates defined benefit plans in Switzerland and
defined contribution plans in other countries. Assets and liabilities of the Swiss pension plans
are held in institutions that are legally independent of the Meyer Burger Group.
Defined benefit plans typically prescribe an amount of pension benefits which an employee will
receive upon retirement and which, as a rule, is dependent on one or more factors such as
age, years of service and salary. In contrast, with a defined contribution plan, a fixed amount
is paid to an entity (insurance company or fund) that does not belong to Meyer Burger Group.
Meyer Burger does not have any legal or constructive obligation to make further payments
should the defined contribution fund have insufficient assets to settle the claims to postemployment
benefits of all employees relating to the current and previous financial years.
For defined benefit plans, the amount recognised in the balance sheet should be the present
value of the defined benefit obligation reduced by the fair value of plan assets at the balance
sheet date and adjusted for cumulative unrecognised actuarial gains and losses and unrecognised
past service cost. The defined benefit obligation (DBO) is calculated annually by an
independent actuary using the projected unit credit method.
In all cases, any underfunding is recognised as a liability. Overfunding, however, is only capitalised
to the extent that it represents an economic benefit for the Group.

Report FY 2010 Corporate Governance Financial Report Other Information
Actuarial gains and losses that are based on experience­based adjustments and the effects of
changes in actuarial assumptions and exceed 10% of the fair value of plan assets or, if higher,
10% of the present value of the defined benefit obligation are recognised in the income statement
over the expected average remaining working lives of the employees participating in that
plan (corridor rule).
In the case of defined contribution plans, Meyer Burger Group pays contributions to public or
private pension insurance plans on the basis of a statutory or contractual obligation, or on a
voluntary basis. Meyer Burger does not have any further payment obligations over and above
payment of the contributions. The contributions are recognised under personnel costs when
they fall due.
2.32 Earnings per share
Earnings per share is calculated by dividing the Group’s profit or loss attributable to registered
shareholders of Meyer Burger Technology Ltd by the weighted average number of registered
shares outstanding during the period in question. For the purposes of diluted earnings per
share, potential diluting effects, e.g. from the exercise of options or conversion rights, are
taken into account when counting the number of outstanding shares, and the relevant profit is
adjusted accordingly.
Treasury shares are not regarded as outstanding shares and are not included in the calculation.
Earnings per share, if there are discontinued operations, is reported both for continuing
operations and also for the total result.
3 Financial risk management and capital management
3.1 Overview of financial instruments
The following is an overview of the Meyer Burger Group’s financial instruments:
Financial assets
in TCHF
Fair value
Receivables through profit
and loans and loss
Available­
for­sale Total
31.12.2010
Cash and cash equivalents 393 543 – – 393 543
Trade receivables 36 937 – – 36 937
Other receivables 42 727 – – 42 727
Financial assets 500 – – 500
Total 473 707 – – 473 707
31.12.2009
Cash and cash equivalents 96 610 – – 96 610
Trade receivables 27 722 – – 27 722
Other receivables 36 330 – – 36 330
Financial assets 187 588 1 270 2 045
Total 160 849 588 1 270 162 706
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94 Meyer Burger Annual Report 2010
Financial liabilities
in TCHF
Fair value
through profit
and loss
Derivative
for hedge
accounting
Other
financial
liabilities Total
31.12.2010
Financial liabilities – – 893 893
Trade payables – – 77 565 77 565
Other liabilities – – 30 678 30 678
Total – – 109 135 109 135
31.12.2009
Financial liabilities 27 – 82 872 82 899
Trade payables – – 39 309 39 309
Other liabilities – – 16 468 16 468
Total 27 – 138 648 138 675
3.2 Fair value assessment
With effect from 1 January 2009 and in accordance with IFRS 7, financial instruments
measured at fair value are to be disclosed on the basis of a three­level valuation hierarchy.
The valuation methods for each of these three levels differ as follows:
Level I Listed prices on active markets (not adjusted)
Level II Valuation method with observable model inputs
Level III Valuation method with non­observable model inputs
Fair value hierarchy
in TCHF Level I Level II Level III Total
31.12.2010
Financial assets
Derivative financial instruments – – – –
Available­for­sale financial assets – – – –
Total financial assets
Financial liabilities
– – – –
Derivative financial instruments – – – –
Total financial liabilities – – – –
31.12.2009
Financial assets
Derivative financial instruments – 588 – 588
Available­for­sale financial assets – – 1 270 1 270
Total financial assets
Financial liabilities
– 588 1 270 1 857
Derivative financial instruments – (27) – (27)
Total financial liabilities – (27) – (27)

Report FY 2010 Corporate Governance Financial Report Other Information
The financial assets of TCHF 588 and financial liabilities of TCHF 27 shown under Level II as
of 31 December 2009 corresponded to the positive and negative replacement values of
forward currency contracts entered into. As of 31 December 2010, no current forward cur­
rency contracts are outstanding.
The financial asset of TCHF 1,270 shown under Level III as of 31 December 2009 corresponded
to a participation of approximately 9% in SiC Processing Wuxi. The valuation was
carried out on 31 December 2009, applying net fair value on the basis of two capital increases
carried out shortly before the balance sheet date. This stake was sold in the 2010 reporting
period.
Financial assets at fair value in level III
in TCHF
Fair value through
profit and loss
Traded
securities
Traded
derivative
financial
instruments
Available­
for­sale Total
Equity
instruments
1.1.2009
–
– 1 212 1 212
Changes in scope of consolidation – – – –
Reclassification of associated companies
Total earnings or losses
– – – –
reflected in income statement – – 106 106
reflected in other comprehensive income – – – –
Purchases – – – –
Issues – – – –
Sales – – – –
Currency translation differences – – (49) (49)
Reclassification from level III – – – –
31.12.2009
Total earnings or losses of the period for financial assets
– – 1 270 1 270
still held at the end of the reporting period
–
– 58 58
1.1.2010
–
– 1 270 1 270
Changes in scope of consolidation – – – –
Total earnings or losses – – – –
reflected in income statement – – 1 230 1 230
reflected in other comprehensive income – – – –
Purchases – – – –
Issues – – – –
Sales – – (2 649) (2 649)
Currency translation differences – – 149 149
Reclassification from level III – – – –
31.12.2010
Total earnings or losses of the period for financial assets
– – – –
still held at the end of the reporting period
–
–
–
–
95

96 Meyer Burger Annual Report 2010
in TCHF
3.3 Financial risk management
Meyer Burger Group is exposed in its operations to liquidity, credit and market risks (interest
rate and foreign currency risks). As part of the Group’s risk management approach, derivative
financial instruments are used to hedge against such risks. Generally, fluctuations in the fair
value of these derivative financial instruments coincide with fluctuations in the opposite direction
with regard to the hedged positions.
3.3.1 Market risks
Foreign currency risks
Meyer Burger Group is exposed in particular to exchange rate fluctuations through operating
expenses and finance denominated in a currency other than the local currency (functional
currency) of the individual Group company concerned. The extent of the risk posed by sales
denominated in a foreign currency is lower. At a consolidated level, the Group is also exposed
to exchange rate fluctuations between the Swiss Franc and the respective local currencies of
the Group companies. The major foreign currencies relevant to the Meyer Burger Group are
the Euro, US Dollar, Japanese Yen and Chinese Yuan Renminbi.
Meyer Burger Group uses forward currency contracts to hedge against exchange rate risks.
Most of the hedge transactions have a term of up to 12 months. Foreign exchange rate risks
relating to the carrying amount of the net investment in a foreign entity or to the conversion of
results posted by foreign entities are not hedged.
There were no open forward currency contracts on the balance sheet date. Fair value fluctuations
in relation to foreign currency hedging are reported under Other income. Hedge
accounting has not been used to date.
The table below shows the currency risks from monetary financial instruments where the currency
is not the same as the functional currency of the Group company holding the financial
instrument:
Foreign currency exposure (monetary and different from functional currency)
31.12.2010 31.12.2009
CHF EUR USD JPY NOK Total CHF EUR USD NOK Total
Currency balance after hedging 336 11 507 28 902 290 393 41 428 458 10 291 (7 652) 1 606 4 703
Income statement related sensitivity analysis +/– 5% 17 575 1 445 14 20 2 071 23 515 (383) 80 235
Foreign currency rate fluctuations of 5% would have increased/reduced the consolidated
equity/the result by TCHF 2,071 (previous year: TCHF 235). This analysis is based on the
assumption that all other variables, particularly interest rates, remained unchanged.
Interest rate risks
Meyer Burger Group faces an interest rate risk from fluctuations in interest rates on the capital
market. Liabilities from the use of syndicated bank loans are particularly exposed to the risk of
fluctuating interest levels, with a potential related impact on cash flow. The other non­current
financial liabilities are mainly subject to fixed rates of interest. As a result, changes in interest

Report FY 2010 Corporate Governance Financial Report Other Information
rates could cause the fair value of such financial liabilities to fluctuate, which would not
however have any effect on either Group earnings or future cash flow. Meyer Burger Group
actively manages its interest rate risks. Its main goal lies in limiting the volatility of planned cash
flows. As at 31 December 2009 and as at 31 December 2010, there were no corresponding
derivatives outstanding.
Cash flow sensitivity analysis for variable­interest financial instruments: a change of 50 basis
points in the rate of interest would have increased/reduced the result and consolidated equity
by TCHF 1,680 (previous year: TCHF 183). This analysis is based on the assumption that all
other variables remained unchanged.
Further price risks
Meyer Burger Group does not currently hold any financial instruments with equity character
and is therefore not exposed to any such price risks. A commodity is a physical substance,
generally a basic resource such as iron ore, nickel, aluminium, copper or other metals, crude
oil, natural gas, coal, etc. Basically, Meyer Burger is only exposed indirectly, through its
acquired products, to fluctuations in commodity prices. The actual price risk is caused by
the time difference between cost rises implemented by suppliers as their raw material prices
increase and the opportunity for the Group companies to increase their prices. Each Group
company is responsible for identifying and quantifying its commodity price risks. Meyer
Burger Group did not trade in any such derivatives during the 2009 and 2010 reporting
periods.
3.3.2 Credit risks
Meyer Burger Group is exposed to various credit risks through its operating activities. The
Group has put in place guidelines to guarantee that products and services are only sold to customers
with a good credit rating. Outstanding debts are also permanently monitored in relation
to operating activities. Due account is taken of credit risks in relation to trade receivables and
with regard to prepayments by means of individual value adjustments and flat­rate value adjustments.
Cluster risks are minimised by ensuring that the Group has a balanced number of different
customers. With regard to the financial assets that were neither impaired nor the subject
of payment arrears as at the balance sheet date, there are no signs that the debtors concerned
will be unable to meet their payment obligations. The Group’s counterparties with regard to securities
transactions, derivative financial instruments and investments are carefully selected
financial institutions which are constantly monitored within defined limits. Because of the high
inflow of funds in the period under review, around CHF 252 million or 64% of the cash and cash
equivalents were invested with a large Swiss bank as of 31 December 2010. On the basis of
this institution’s credit ratings, Meyer Burger Group does not expect to incur any losses on account
of non­performance of contracts. The maximum credit risks are limited to the carrying
amounts of the respective financial assets. Further information on the financial assets can be
found in Note 6.2 (Receivables).
97

98 Meyer Burger Annual Report 2010
3.3.3 Liquidity risks
The liquidity risk is the risk that Meyer Burger Group might be unable to meet its financial
obligations on time. The availability of sufficient liquidity is permanently monitored, with
monthly details provided to management. Liquidity reserves are maintained such that the
Group is in a position to even out any normal fluctuations in the requirement for funds. At the
same time, unused credit lines are available as a means of cushioning any major fluctuations
should they arise. The total amount of unused credit lines as at 31 December 2010 due to
the high exposure to advance payment guarantees was CHF 14.4 million (31 December
2009: CHF 54.7 million).
The table below shows the total contractual maturities of non­discounted financial liabilities
(including estimated future interest payments):
Contractual maturities of financial assets (not discounted)
in TCHF
Book Total
value payments
till 1 year
Due
1 to 5
years > 5 years
31.12.2010
Financial liabilities (without foreign exchange rate contract) 893 893 583 310 –
Foreign exchange rate contracts gross­cash­inflow – – – – –
Foreign exchange rate contracts gross­cash­outflow – – – – –
Trade payables 77 565 77 565 77 565 – –
Other liabilities 30 678 30 678 29 599 985 93
Total financial liabilities 109 136 109 136 107 747 1 296 93
31.12.2009
Financial liabilities (without foreign exchange rate contract) 82 899 86 146 16 125 69 138 883
Foreign exchange rate contracts gross­cash­inflow – (1 482) (1 482) – –
Foreign exchange rate contracts gross­cash­outflow 27 1 509 1 509 – –
Trade payables 39 309 39 244 39 244 – –
Other liabilities 16 468 18 964 18 402 558 5
Guarantees – – – – –
Total financial liabilities 138 702 144 381 73 797 69 696 888

Report FY 2010 Corporate Governance Financial Report Other Information
Contractual maturities of financial assets (not discounted)
in TCHF Book value
Total
payments
till 1 year
Due
1 to 5
years > 5 years
31.12.2010
Cash and cash equivalents 393 543 393 543 393 543 – –
Trade receivables 36 937 36 937 36 937 – –
Other receivables 45 805 45 805 42 727 3 078 –
Financial assets – – – – –
Foreign exchange rate contracts gross­cash­inflow – – – – –
Foreign exchange rate contracts gross­cash­outflow – – – – –
Participation in SiC Processing (Wuxi) Ltd – – – – –
Loans 500 500 314 186 –
Total financial assets 476 785 476 785 473 521 3 264 –
31.12.2009
Cash and cash equivalents 96 610 96 610 96 610 – –
Trade receivables 27 722 27 722 27 722 – –
Other receivables 36 330 36 330 36 330 – –
Income tax receivables – – – – –
Financial assets 588 19 219 19 219 – –
Foreign exchange rate contracts gross­cash­inflow (18 632) (18 632) – –
Foreign exchange rate contracts gross­cash­outflow 1 270 1 270 – 1 270 –
Participation in SiC Processing (Wuxi) Ltd 187 187 – 187 –
Loans – – – – –
Total financial assets 162 706 162 706 161 249 1 457 –
3.4 Capital management
The capital managed by Meyer Burger Group is the consolidated equity. The aims in managing
this capital are to maintain a healthy and solid balance sheet structure on the basis
of going­concern values, while guaranteeing the financial room for manoeuvre needed for
future investments and acquisitions and generating a return for investors commensurate
with the level of risk. The capital structure is monitored using the equity ratio as key financial
data.
Capital management
in TCHF 31.12.2010 31.12.2009
Equity attributable to shareholders of Meyer Burger Technology Ltd
642 923 196 287
Minority interests 4 –
Total equity 642 927 196 287
Total assets 1 066 799 460 195
Equity ratio 60.3% 42.7%
The Group’s capital management is also based around the requirements of the lending banks
with a view to improving the current rating. In September 2009, Meyer Burger Ltd entered
into an agreement for a syndicated credit line (for further information on the syndicated credit
see Note 6.12). The bank syndicate defined covenants. Should Meyer Burger be unable to
99

100 Meyer Burger Annual Report 2010
meet these covenants, the bank syndicate would have the right to cancel the loan at short
notice. The bank syndicate stipulated a minimum equity ratio and a maximum level of indebt­
edness as of 31 December 2010. All covenants were met as of that date.
4 Estimation uncertainties and management judgements
Preparation of the financial statements in accordance with IFRS requires that management
make estimates and assumptions that could affect the reported amounts of income and
expenses, assets and liabilities and contingent liabilities at the time of the accounts being
prepared. These estimates, assumptions and assessments are permanently being revised.
The adjustments made can affect the current period or also future periods depending on the
circumstances concerned. The estimates, assessments and assumptions are based on historical
values as well as other appropriate and justified factors. Actual events might deviate
from these estimates. Additionally, the application of accounting standards requires that the
management make decisions that could have a significant impact on the amounts reported
in the financial statements. Above all, the assessment of business transactions with a complex
structure or legal form requires that management make decisions. This applies to the
following circumstances in particular:
Business combinations
In the event of control over another company being acquired, the costs of the acquisition are
allocated to assets, liabilities and contingent liabilities. Any residual amount is reported as
goodwill. This assessment requires an estimate from management of the fair value of these
items. The estimates made by management are reflected in particular in the reporting and
measurement of intangible assets (technology, order backlog, customer base, etc.) and of
contingent items, and are reviewed by external valuation experts.
Impairment of property, plant and equipment, goodwill and intangible assets
Detailed impairment tests are carried out at least once a year for goodwill and other intan ­
gible assets with an indefinite service life. The value of all other assets is reviewed if there are
indicators that they are overvalued. Goodwill is allocated to the cash­generating units (CGUs).
Within Meyer Burger Group, these CGUs correspond to the individual subsidiaries. The residual
values of the individual CGUs are compared against the higher of fair value less costs to
sell and value in use. As part of the same process, the amount obtainable from property,
plant and equipment is calculated using the same method. These impairment tests are based
on estimated future cash flows from the use of these assets. The actual cash flows recorded
in practice could differ considerably from these estimates as a result of changes to the
planned use of assets such as technical obsolescence or market changes.

Report FY 2010 Corporate Governance Financial Report Other Information
Provisions
The Group companies may, on the basis of their ordinary business activity, become involved
in legal disputes. Provisions for current or pending cases are measured based on
existing knowledge on the basis of cash outflows judged to be realistic. Depending on the
outcome of such cases, claims may arise against the Group, fulfilment of which might not
be covered in full or in part by provisions or by insurance cover. The amount of warranty
provisions is determined from past historical data and the currently known warranty risks.
These provisions are made on a machine­specific basis as soon as a piece of equipment is
invoiced (commencement of warranty period), and are reduced over the warranty period in
line with the warranty costs incurred for the machine in question. Appropriate provisions
are made to cover any contractual obligations on the basis of which the unavoidable costs
of fulfilling the obligation exceed the economic benefits expected to be received under
them. The amount of the provisions is based on management’s assessment of the case.
Pension plans
The estimates and assumptions used to determine the annual plan costs and plan liabilities are
based on future projections and calculations (e.g. discount rate, expected long­term asset earnings,
expected rate of increase in wages, expected rate of inflation), which are determined on a
joint basis with actuaries.
Income taxes
Estimates have to be made to determine the level of claims and liabilities from current and
deferred income taxes. These are based on an interpretation of the existing tax laws and regu­
lations. Numerous internal and external factors can impact on the final assessment. These
include amendments to tax law, changes in tax rates, the future level of pre­tax profits and
audits carried out by the tax authorities.
5 Segment reporting
Meyer Burger Group is a leading globally active technology group specialising in innovative
systems and processes for cutting and handling crystalline and other high­grade materials in
the solar (photovoltaic), semiconductor and optical industries. Meyer Burger Group only has
one reportable segment, which means that the segment information corresponds to the figures
in the consolidated statements. During implementation of IFRS 8, the following circumstances
led to the conclusion that the Group had only one reportable segment:
– Internal monthly reporting is carried out in concentrated form for the whole Group, with no split
by geography, industry (solar, semiconductors, optical industries) or technology (e.g. cutting,
automation and robotic systems, measurement systems, laminating, soldering systems or
customer services).
– Because of the close integration of the Group companies in individual projects, the legal en ­
tities also generate sales with sister companies. Key decisions are therefore made for the whole
Group by Group management on the basis of individual projects and not on the basis of the
individual financial statements of the legal entities.
101

102 Meyer Burger Annual Report 2010
The holding companies only supply internal services; their operating results are monitored in
the internal monthly reports referred to above.
Meyer Burger Group invested TCHF 367,768 (2010: TCHF 84,053) in non­current assets
in the 2010 reporting period, which was mainly the result of acquisitions (see Business combinations
in Note 6.30), other property, plant and equipment (see Note 6.10) and intangible
assets (see Note 6.11).
Geographical information
in TCHF Switzerland Europe Asia USA Total
2010
Net sales third parties 10 537 128 325 628 722 58 420 826 005
Long­term assets 143 429 211 019 1 567 73 465 429 480
Sales in Europe mainly related to sales to Germany, and in Asia mainly to China. Net sales of
CHF 252 million were generated from one major client, corresponding to 30.5% of the Meyer
Burger Group’s net sales.
in TCHF Switzerland Europe Asia USA Total
2009
Net sales third parties 4 431 140 633 251 939 23 940 420 943
Long­term assets 14 268 74 901 1 909 77 574 168 652
Sales in Europe mainly related to transactions with Norway and Germany, while China was the
main sales market in Asia. Net sales of CHF 62 million were generated from one major client,
corresponding to 14.7% of the Meyer Burger Group’s net sales.

Report FY 2010 Corporate Governance Financial Report Other Information
Net sales from products and services
Net sales include the following products and services:
in TCHF 2010 2009
Net sales from products
Machines/systems manufactured 731 645 371 306
Machines/systems traded 9 323 18 052
Spare parts 25 508 16 032
Consumables 19 457 7 056
Other goods
Net sales from services
3 961 81
Servicing and maintenance 4 590 2 558
Regrooving and recoating 6 256 4 973
Commissions 151 454
Consultancy and training 84 26
Other services 1 125 405
Net sales from construction contracts 23 906 –
Net sales 826 005 420 943
6 Notes to the consolidated financial statements
6.1 Cash and cash equivalents
in TCHF 31.12.2010 31.12.2009
Cash and cash equivalents
373 513 96 511
Time deposits with maturities up to 90 days 20 030 98
Cash and cash equivalents 393 543 96 610
Of the total amount of cash and cash equivalents, TCHF 14,863 (2009: TCHF 6,681) is
located in countries where cash flows to other countries are subject to formal requirements
or applications. Taking the periods required for this into account, these funds can be made
available at short notice.
6.2 Receivables
in TCHF 31.12.2010 31.12.2009
Trade receivables
39 922 30 820
Other receivables 45 970 36 330
Value adjustments (3 150) (3 098)
Receivables 82 742 64 052
103

104 Meyer Burger Annual Report 2010
Receivables without individual adjustments
in TCHF
Trade
receivables
31.12.2010 31.12.2009
Other
receivables
Trade
receivables
Other
receivables
Not yet due
20 853 45 655 13 948 36 317
1–30 days overdue 6 603 – 3 150 –
31–90 days overdue 4 123 – 1 810 –
More than 91 days overdue 4 826 – 7 960 12
Receivables without individual adjustments 36 406 45 655 26 868 36 330
Receivables with individual adjustments
in TCHF
Trade
receivables
31.12.2010 31.12.2009
Other
receivables
Trade
receivables
Other
receivables
Gross receivables
3 516 315 3 783 –
Value adjustments (2 817) (165) (2 928) –
Receivables adjusted 699 150 854 –
Changes in adjustments on receivables
in TCHF
Trade receivables Other receivables
Individual
value
adjustments
Overall
value
adjustments
Individual
value
adjustments
Overall
value
adjustments
Balance as of 1.1.2009
(1 290)
–
–
–
Impairment (2 425) (178) – –
Reversal of impairment 674 – – –
Disposals 101 – – –
Currency translation differences 12 8 – –
Balance as of 31.12.2009 (2 928) (170) – –
Changes in scope of consolidation (961) – (114) –
Impairment (2 539) (17) (50) –
Reversal of impairment 2 234 – – –
Disposals 1 213 – – –
Currency translation differences 164 18 – –
Balance as of 31.12.2010 (2 817) (169) (165) –
Both the trade receivables and other receivables are for the most part current in nature.
Long-term receivables account for approximately CHF 3 million. Meyer Burger Group has not
pledged any receivables to third parties as collateral. The maximum credit risk for Meyer
Burger Group corresponds in every case to the carrying amount of the receivables recognised.

Report FY 2010 Corporate Governance Financial Report Other Information
6.3 Net assets from construction contracts
in TCHF 31.12.2010 31.12.2009
Accrued project costs
15 275
–
Recognised portion gross profit 8 631 –
Work in process 23 906 –
Customer prepayments (18 047) –
Net assets from construction contracts 5 859 –
6.4 Financial assets
Fair value through
profit and loss
in TCHF Trading Designated
Available-
for-sale
Derivative
financial
instruments Loans Total
Balance as of 1.1.2009
–
– 1 212 555
– 1 767
Changes in scope of consolidation – – – – – –
Additions – – – 588 193 781
Income statement related impairment – – 106 – – 106
Impairment not affecting income statement – – – – – –
Reclassification within financial assets – – – – – –
Reclassification of long-term financial assets held-for-sale – – – – – –
Disposals – – – (555) – (555)
Currency translation differences – – (49) – (6) (54)
Balance as of 31.12.2009 – – 1 270 588 187 2 045
Changes in scope of consolidation – – – – 79 79
Additions – – – – 315 315
Income statement related impairment – – 1 230 – – 1 230
Impairment not affecting income statement – – – – – –
Reclassification within financial assets – – – – – –
Reclassification of long-term financial assets held-for-sale – – – – – –
Disposals – – (2 649) (588) (84) (3 321)
Currency translation differences – – 149 – 3 152
Balance as of 31.12.2010 – – – – 500 500
Thereof short-term
Fair value through
profit and loss
in TCHF Trading Designated
Available-
for-sale
Derivative
financial
instruments Loans Total
01.01.2009
–
–
– 555
– 555
31.12.2009 – – – 588 – 588
31.12.2010 – – – – 314 314
The maximum credit risk for Meyer Burger Group corresponds in every case to the carrying
amount of the financial assets recognised. Meyer Burger Group has not pledged any financial
assets to third parties as collateral.
105

106 Meyer Burger Annual Report 2010
6.5 Financial assets carried at fair value through profit or loss
and available-for-sale
As of 31 December 2009, Meyer Burger Group held a participation of approximately 9%
in SiC Processing (Wuxi) Ltd. This participation was sold during financial year 2010. This
financial asset was classed as “available­for­sale” with a carrying amount of TCHF 1,270 as
at 31 December 2009. For information on the measurement of fair value, see Note 3.2.
6.6 Derivative financial instruments
in TCHF
Positive
current
market value
Negative
Contract current
volume market value
Contract
volume
Cash flow hedges
Currency – – – –
Interest rates
Fair value hedges
– – – –
Currency – – – –
Interest rates
Trading assets
– – – –
Currency 588 19 219 (27) 1 509
Interest rates – – – –
31.12.2009
Cash flow hedges
588 19 219 (27) 1 509
Currency – – – –
Interest rates
Fair value hedges
– – – –
Currency – – – –
Interest rates
Trading assets
– – – –
Currency – – – –
Interest rates – – – –
31.12.2010 – – – –
There were no outstanding foreign currency instruments as of 31 December 2010. The foreign
currency instruments as of 31 December 2009 were mainly foreign currency hedges in US
Dollars and Euros. The maximum residual term of the forward exchange currency contracts
was 12 months.
6.7 Loans
The loans as of 31 December 2010 with a carrying amount of TCHF 500 (31.12.2009: TCHF
187) were not subject to an impairment; the amount shown corresponds to the effective receivables
from the borrowers. The carrying amounts of these loans do not differ materially
from the fair value. The maximum exposure to credit risk corresponds to its carrying amount.

Report FY 2010 Corporate Governance Financial Report Other Information
6.8 Inventories
in TCHF 31.12.2010 31.12.2009
Raw materials, purchased parts
53 621 54 222
Goods in consignment 22 –
Semi­finished goods 76 746 55 297
Finished goods 20 202 6 506
Machines before acceptance 201 112 97 980
Customer prepayments (202 772) (82 059)
Value adjustment inventories (9 903) (10 460)
Inventories 139 028 121 487
Allowances are made for overly high levels of inventories that in all probability cannot be sold,
for inventories where there is no or almost no inventory turnover, and for damaged and
unsalable inventories.
6.9 Long-term assets held for sale
The long­term assets held for sale as of 31 December 2009 at a carrying amount of
TCHF 885 corresponded to the value of four cylindrical grinding machines belonging to
Meyer Burger Machinery (Shanghai) Co. Ltd., the sale of which was pending and which
were no longer being used for the originally intended purpose. As of 31 December 2009, no
liabilities were associated with these machines intended for sale. These machines were sold
during the financial year 2010.
107

108 Meyer Burger Annual Report 2010
6.10 Property, plant and equipment
in TCHF
Land and
Assets under
buildings Equipments Maschines IT Vehicles construction Total
Purchase price
Balance as of 1.1.2009 5 303 5 749 20 031 1 387 916 – 33 386
Change in scope of consolidation 2 055 327 5 529 305 15 – 8 232
Increase – 767 4 892 83 54 713 6 509
Capitalisation – – 226 – – – 226
Reclassification within property, plant and equipment – 36 (81) – 45 – –
Reclassification from/to non­current assets held for sale – – (1 183) – – – (1 183)
Disposal (5 303) (236) (2 487) – (179) – (8 205)
Currency translation differences (90) (16) (180) (14) (4) (29) (334)
Balance as of 31.12.2009 1 965 6 626 26 747 1 761 847 684 38 631
Change in scope of consolidation 147 2 647 5 031 229 100 – 8 154
Increase 166 1 265 4 235 207 520 2 115 8 508
Capitalisation – – 3 776 – – 4 981 8 757
Reclassification within property, plant and equipment (1 975) 2 142 4 243 10 10 (4 431) –
Reclassification from/to non­current assets held for sale – – – – – – –
Disposal – (25) (3 372) – (91) – (3 488)
Currency translation differences 6 (789) (1 990) (28) (36) (214) (3 051)
Balance as of 31.12.2010 310 11 866 38 670 2 179 1 351 3 134 57 510
Cumulative depreciations and impairments
Balance as of 1.1.2009 (3 709) (1 419) (5 501) (785) (211) – (11 626)
Depreciation according to plan (147) (1 212) (5 315) (353) (175) – (7 201)
Impairment – – (160) – – – (160)
Reclassification within property, plant and equipment – (11) 14 – (4) – –
Reclassification from/to non­current assets held for sale – – 256 – – – 256
Disposal 3 784 208 1 459 – 96 – 5 547
Currency translation differences 3 3 51 1 2 – 61
Balance as of 31.12.2009 (68) (2 430) (9 195) (1 137) (292) – (13 123)
Depreciation according to plan (27) (2 588) (8 124) (638) (232) – (11 609)
Impairment – (14) (685) 5 – – (693)
Reclassification within property, plant and equipment 69 (93) 19 – 4 – –
Reclassification from/to non­current assets held for sale – – – – – – –
Disposal – 25 1 293 – 55 – 1 373
Currency translation differences 1 168 470 52 21 – 713
Balance as of 31.12.2010 (25) (4 931) (16 221) (1 718) (444) – (23 339)
Net book value
31.12.2008 1 594 4 330 14 530 602 705 – 21 761
31.12.2009 1 896 4 196 17 552 624 555 684 25 508
31.12.2010 285 6 935 22 449 461 907 3 134 34 171
Therefrom financial leasing
31.12.2008 – – – – – – –
31.12.2009 – – – – – – –
31.12.2010 – – – – – – –
The capital investment commitments for the acquisition of property, plant and equipment as of 31 December 2010 totalled
TCHF 15,271 (31.12.2009: TCHF 342), and relate to a large extent (CHF 10.8 million) to the planned construction of the new
Meyer Burger Ltd facility in Thun.

Report FY 2010 Corporate Governance Financial Report Other Information
6.11 Intangible assets
in TCHF Goodwill Software
Development
costs
Customer
relationships
Software
Trade
(from
name Technology Acquisition)
Order
Backlog
Other
intangible
assets Total
Purchase price
Balance as of 1.1.2009 22 622 4 069 – 23 131 – 52 299 – 5 527 114 107 761
Change in scope of consolidation 23 374 – – – 1 499 46 096 – 701 – 71 671
Increase – 864 1 505 – – – – – – 2 369
Changes in value (1 646) – – – – – – – – (1 646)
Capitalisation – – 430 – – – – – – 430
Reclassification within intangible assets – (1 050) 1 050 – – – – – – –
Disposal – (1) – – – – – – – (1)
Currency translation differences (1 008) (2) (6) (20) (66) (2 071) – (36) – (3 209)
Balance as of 31.12.2009 43 342 3 881 2 979 23 111 1 433 96 324 – 6 193 114 177 376
Change in scope of consolidation 141 503 291 23 49 289 23 525 93 228 8 453 9 847 – 326 160
Increase – 1 378 65 – – – – – – 1 443
Changes in value 15 298 – – – – – – – – 15 298
Capitalisation – – 31 – – – – – – 31
Reclassification within intangible assets – – – – – – – – – –
Disposal – (16) – – – – – (5 135) – (5 150)
Exchange rate differences (19 657) (124) (69) (9 319) (1 334) (21 723) – (1 284) (18) (53 528)
Balance as of 31.12.2010 180 486 5 410 3 030 63 081 23 625 167 829 8 453 9 621 96 461 630
Cumulative depreciations
and impairments
Balance as of 1.1.2009 – (1 149) – (2 924) – (7 809) – (4 836) – (16 718)
Depreciation according to plan – (1 228) (291) (3 352) (2) (8 984) – (752) (39) (14 647)
Exchange rate differences – 1 – 52 – 144 – 17 1 215
Balance as of 31.12.2009 – (2 376) (291) (6 224) (2) (16 649) – (5 571) (38) (31 151)
Depreciation according to plan – (1 350) (996) (7 770) (2 334) (22 780) (1 691) (10 128) (32) (47 081)
Changes in value – – (263) – – – – – (38) (301)
Disposal – 16 – – – – – 5 135 – 5 150
Exchange rate differences – (9) 40 1 638 74 4 438 – 944 13 7 138
Balance as of 31.12.2010 – (3 719) (1 510) (12 356) (2 262) (34 991) (1 691) (9 621) (95) (66 245)
Net book value
31.12.2008 22 622 2 920 – 20 207 – 44 490 – 691 114 91 043
31.12.2009 43 342 1 504 2 688 16 887 1 431 79 675 – 621 76 146 226
31.12.2010 180 486 1 691 1 519 50 725 21 363 132 838 6 762 – – 395 385
Therefrom financial leasing
31.12.2008 – – – – – – – – – –
31.12.2009 – – – – – – – – – –
31.12.2010 – – – – – – – – – –
The capital investment commitments for the acquisition of intangible assets as of 31 December
2010 were TCHF 141 (31.12.2009: TCHF 80). Research and development expenses during
the reporting period came to TCHF 40,591 (2009: TCHF 20,566).
109

110 Meyer Burger Annual Report 2010
Goodwill allocation to cash-generating units (CGUs)
in TCHF Hennecke DMT 3S Pasan Somont Total
31.12.2010
Goodwill
Intangible assets with unlimited
30 003 21 190 45 776 17 792 65 725 180 486
expected useful life
–
–
–
–
–
–
31.12.2009
Goodwill
Intangible assets with unlimited
19 968 23 374 – – – 43 342
expected useful life
–
–
–
–
–
–
Goodwill is allocated to groups of cash­generating units (CGUs) which are expected to
benefit from the business combination that resulted in the goodwill. Goodwill was accordingly
allocated to Diamond Materials Tech, Inc. (DMT), Hennecke Systems GmbH (Hennecke) and
the companies 3S Swiss Solar Systems Ltd (3S), Pasan SA (Pasan) and Somont GmbH
(Somont), which were acquired in the context of the merger with 3S Group in 2010.
in TCHF Hennecke DMT 3S Pasan Somont
Growth rate
2.00% 2.00% 2.00% 2.00% 2.00%
Discount (before tax) rate 13.88% 16.04% 11.58% 12.19% 13.70%
For the purposes of the annual impairment test, the recoverable amount of goodwill is measured
on the basis of value in use. This method contains future cash flow projections in
accordance with approved budgets and financial plans for three years, and a continuing
annuity was calculated for subsequent years. The continuing annuity was calculated on the
basis of the cash flow for budget year 3, incorporating a growth rate. Based on the principle
of conservatism, Meyer Burger used for the goodwill impairment test the same growth rates
for all companies and has set them at low levels. The cash flow projections for the individual
companies are discounted on the basis of a discount rate (before tax) that takes account of
the respective country­ and company­specific features of the individual CGUs. Discount rates
of between 11.58% and 16.04% were applied during the reporting year. The net present values
are subject to exceptionally sensitive estimates and assumptions specific to the activities
pursued by the individual CGUs in Meyer Burger Group. These estimates include:
– Amount and timing of expected future cash flows
– Tax and discount rate applied
– Amount and timing of likely investment costs
– Estimates of market shares
– Long­term sales forecasts
– Behaviour of competitors (market launch of competing products, marketing activities, etc.)
A 10% reduction in operating result or cash flow, or a 10% increase in the discount rate,
would not lead to any need for impairment with regard to any of the companies. Furthermore,
carrying out the calculation without a growth rate would also not lead to any need for impairment.

Report FY 2010 Corporate Governance Financial Report Other Information
The change in goodwill for Hennecke is due to the fact that in 2010, Meyer Burger made early
use of its right to exercise a purchase option included in the purchase agreement for the
acquisition of the remaining 34% participation in Hennecke. The good order situation at
Hennecke had pushed up the value of this purchase option. The higher residual payment for
the purchase was recorded as an adjustment to goodwill. For detailed information on this
acquisition, see Note 6.30.2. The decline in value of the Euro also resulted in a reduction in
goodwill in relation to Hennecke.
The change in goodwill in relation to DMT is purely attributable to the foreign currency measurement
on the balance sheet date.
At the Extraordinary General Meeting of Meyer Burger Technology Ltd on 14 January 2010 in
Berne, the shareholders agreed to the merger with 3S Industries Ltd, Lyss, Switzerland. The
Extraordinary General Meeting of 3S Industries Ltd, also held on 14 January 2010, for its part
agreed in full to the merger with Meyer Burger Technology Ltd. Following the purchase price
allocation in 2010, the merger resulted in goodwill of TCHF 141,503. For detailed information on
this acquisition, see Note 6.30.
Development of goodwill
in TCHF
Goodwill as of 1.1.2009
22 622
Increase in goodwill due to purchase of DMT 23 374
Adjustment to goodwill of AMB (350)
Adjustment to goodwill of Hennecke (1 296)
Currency translation differences (1 008)
Goodwill as of 1.1.2010 43 342
Increase in goodwill of Hennecke 15 298
Increase in goodwill due to merger with 3S Industries Ltd 141 503
Currency translation differences (19 657)
Goodwill as of 31.12.2010 180 486
111

112 Meyer Burger Annual Report 2010
6.12 Financial liabilities
in TCHF 31.12.2010 31.12.2009
Short­term
Liabilities to banks 113 7 314
Derivative financial instruments – 27
Short­term portion of long­term debts 310 16 000
Other 158 79
Short-term liabilities 582 23 421
Long term
Liabilities banks – 33 956
Derivative financial instruments – –
Loans 310 883
Liability business combinations 1 – 24 639
Long-term liabilities 310 59 478
Financial liabilities
1 For detailed information on this purchase obligation arising from business combinations, see Note 6.30.
893
82 899
In September 2009, Meyer Burger arranged a syndicated line of credit in the amount of
TCHF 130,000 to finance acquisitions and working capital with a syndicate made up of
several highly reputed Swiss financial institutions. The borrowers are Meyer Burger Ltd
and 3S Swiss Solar Systems Ltd since January 2010. This syndicated loan is split up into
an acquisition credit limit (amortising portion) and a guarantee/working capital limit
(revolving portion). In 2010, the acquisition credit limit was fully amortised early. The in­
terest rate is Libor plus a spread based on a given spread table, and is set quarterly. The
bank syndicate defined covenants. Should Meyer Burger be unable to meet these covenants,
the bank syndicate would have the right to terminate the loan at short notice. As
of 31 December 2010, the bank syndicate stipulates a minimum equity ratio, a maximum
level of indebtedness and a minimum interest coverage ratio. All covenants were met as
of that date. As collateral against the acquisition funding, Meyer Burger Technology Ltd
stood guarantor for the obligations of Meyer Burger Ltd, and the shares in Diamond
Materials Tech, Inc. were pledged to the bank syndicate. The full amortisation of the
acquisition credit means that this pledge no longer applies.
The interest­bearing current liabilities to banks of TCHF 7,314 as of 31 December 2009 (bank
loans to AMB Apparate + Maschinenbau GmbH issued by two German banks) were also
amortised during the year under review.

Report FY 2010 Corporate Governance Financial Report Other Information
6.13 Provisions
in TCHF Warranties
Onerous
contracts
Other
provisions Total
Balance as of 1.1.2009
6 586 800
– 7 386
Change in scope of consolidation – – – –
Increase 4 810 5 994 1 493 12 297
Use (1 650) – (399) (2 049)
Released (6 548) (309) (4) (6 861)
Present value adjustment – – – –
Reclassification – – – –
Currency translation differences (1) – – (1)
Balance as of 31.12.2009 3 196 6 485 1 091 10 772
Change in scope of consolidation 3 273 656 179 4 108
Increase 6 277 6 477 2 795 15 549
Use (3 269) (1 355) (996) (5 620)
Released (805) (1 491) (234) (2 531)
Present value adjustment – – – –
Reclassification (114) 1 – – (114)
Currency translation differences (165) – (134) (299)
Balance as of 31.12.2010 8 393 10 772 2 700 21 864
Therefrom short-term
01.01.2009 6 586 800 – 7 386
31.12.2009 2 781 6 485 1 091 10 356
31.12.2010
1 Reclassification from provisions to other liabilities.
7 454 7 438 2 700 17 591
Warranties: provisions for services to be rendered during the contractual warranty period.
The amount of the provisions is determined from past historical data and the currently known
warranty risks. The cash outflow is expected within the warranty period granted, which is one
year in most cases, or a maximum of two years.
Onerous contracts: provisions for contracts under which the unavoidable costs of meeting
the contractual obligations exceed the expected economic benefits. The outflow of economic
benefits is generally expected within the next 12 months, but within the next 36 months at the
most.
Other provisions: the other provisions cover a variety of risks that occur in normal business
operations and principally contain provisions for contractual penalties and litigation risks. The
cash outflow is expected within the next 12 months.
113

114 Meyer Burger Annual Report 2010
6.14 Other liabilities
in TCHF 31.12.2010 31.12.2009
Short­term
Accrued expenses 12 813 6 115
Short­term employee benefits 9 772 4 762
Other 6 460 5 033
Other short-term liabilities 29 044 15 910
Long­term
Other long­term employee benefits 1 634 558
Other – –
Other long-term liabilities 1 634 558
Other liabilities 30 678 16 468
6.15 Pension plans
In 2010, the acquisition of 3S Group resulted in the addition of the defined benefit pension
plans of 3S Swiss Solar Systems Ltd and Pasan SA.
Analysis of balance sheet position
in TCHF 31.12.2010 31.12.2009
Present value of employee benefit obligation
64 767 40 096
Fair value of plan assets (54 944) (36 293)
Funded status 9 823 3 803
Unrecognised actuarial gain/loss (5 835) (2 986)
Not balanced assets – –
Liabilities from defined benefit pension plans 3 988 817
Expenses pension plan in income statement
in TCHF 2010 2009
Contributions by employees
(2 712) (2 023)
Interest cost of pension fund requirements (1 695) (1 200)
Expected return on plan assets 1 537 1 184
Change in not balanced assets – –
Expenses pension plan (defined contribution) (2 870) (2 039)
Expenses pension plan (defined benefit) (231) (17)
Total expenses pension plan in the income statement (3 101) (2 056)

Report FY 2010 Corporate Governance Financial Report Other Information
Movement in the defined benefit obligation
in TCHF 2010 2009
Balance as of 1.1.
40 096 33 213
Change in scope of consolidation 15 291 –
Current service costs 2 709 1 963
Employee contributions 2 977 2 015
Contribution to risk premiums and administration costs (1 276) (898)
Interest cost of pension fund requirements 1 695 1 200
Actuarial gain/loss 3 024 2 445
Paid out pension fund benefit 251 156
Balance as of 31.12. 64 767 40 096
Movement in the fair value of plan assets
in TCHF 2010 2009
Balance as of 1.1.
36 293 31 749
Change in scope of consolidation 12 010 –
Expected return on plan assets 1 537 1 184
Actuarial gain/loss 175 71
Employee contributions 2 977 2 014
Employer contributions 2 977 2 015
Contribution to risk premiums and administration costs (1 276) (898)
Benefits paid 251 156
Balance as of 31.12. 54 944 36 293
Principal categories of plan assets and expected return
31.12.2010 31.12.2009
Equities
5.3% 0.0%
Bonds 10.8% 0.0%
Real estate Switzerland 3.9% 0.0%
Others 80.0% 100.0%
The actual return on plan assets was TCHF 1,712 (2009: TCHF 1,255) in the 2010 reporting
period.
The pension plan assets of Meyer Burger Ltd and Meyer Burger Technology Ltd are invested
in a group insurance contract for occupational pensions with Winterthur­Columna Foundation
through an affiliation contract. 100% of the investments therefore consist of direct claims
against the insurance company or against the group foundation. The expected long­term
return of 3% on this insurance plan is based on historical experience with insurance contracts
and expected future income.
115

116 Meyer Burger Annual Report 2010
The pension plan assets of 3S Swiss Solar Systems Ltd and Pasan SA are invested in a range
of investments with various different foundations on the basis of the BVV 2 rules. The expected
long­term return of 3.5% on these investments is based on historical experience and expected
future income.
Expected ordinary employer contributions for 2011 are TCHF 3,104.
Principal actuarial assumptions
in TCHF 31.12.2010 31.12.2009
Discount rate
2.75% 3.0%
Expected rate of return on plan assets 3– 3.5% 3.0%
Future salary increases 1.5% 1.5%
Future pension indexation 1.0% 1.0%
4-years-overview
in TCHF 31.12.2010 31.12.2009 31.12.2008 01.01.2008
Present value of defined benefit obligation
64 767 40 096 33 213 26 434
Fair value of plan asset (54 944) (36 293) (31 749) (26 606)
Overfunding/(underfunding) 9 823 3 803 1 464 (172)
Adjustments from experiences of plan assets 175 71 (731) –
Adjustments from experiences of plan liabilities (1 329) 778 119 –
6.16 Deferred income taxes
Causes for deferred income taxes
Deferred
tax assets
Deferred
tax liabilities
in TCHF 31.12.2010 31.12.2009 31.12.2010 31.12.2009
Trade receivables (7) – 409 935
Inventories 2 224 330 6 104 5 065
Financial assets – – – 218
Property, plant and equipment 151 75 1 694 1 687
Intangible assets 1 370 – 41 790 16 285
Other assets 231 – – –
Tax loss carry­forwards 12 049 2 946 – –
Financial liabilities 19 – 2 –
Trade payables 2 156 169 92 –
Provisions – – 662 713
Liabilities from defined benefit plans 610 181 – –
Subtotal 18 802 3 701 50 753 24 903
Compensation (9 388) (442) (9 388) (442)
Deferred tax liabilities 9 414 3 260 41 365 24 461
The deferred income taxes on trade receivables, inventories and trade payables are current
in nature.

Report FY 2010 Corporate Governance Financial Report Other Information
The capitalised tax loss carry­forwards mainly result from losses realised at Diamond Materials
Tech, Inc. (DMT) and AMB Apparate + Maschinenbau GmbH. Both companies are expected
to achieve positive results in the future, making it possible to apply these loss carry­forwards
towards tax in the medium­term.
The valuation differences relating to those investments for which no deferred taxes were
recognised are TCHF 673,810 as at 31 December 2010 (31.12.2009: TCHF 100,046).
Development of deferred taxes (net)
in TCHF 31.12.2010 31.12.2009
Balance as of 1.1.
(21 202) (30 692)
Change in scope of consolidation (43 007) –
Income statement related 26 665 9 625
Currency translation differences 5 592 (135)
Balance as of 31.12. (31 952) (21 202)
Tax losses not recognised
in TCHF 31.12.2010 31.12.2009
Due in one year – –
Due in 1–2 years – –
Due in 3–4 years – –
Due over 5 years 4 616 9 710
Non­forfeitable 35 –
Unaccounted tax loss carry-forward 4 651 9 710
The tax rates for unrecognised tax loss carry­forwards are 38% for the amount of TCHF
4,610 and 28% for the amount of TCHF 41. In 2009, the tax rates were 40% for TCHF 1,759
and 30% for TCHF 7,949.
117

118 Meyer Burger Annual Report 2010
6.17 Share capital
Numbers
of shares in CHF
Balance as of 1.1.2009
3 026 190 1 513 095
Option plans 20 675 10 338
Acquisition of subsidiaries 163 000 81 500
Capital increase – –
Capital decrease – –
Balance as of 31.12.2009
Share split 1:10 on 14.01.2010
3 209 865
32 098 650
1 604 933
1 604 933
Balance as of 14.01.2010 after share split
32 098 650 1 604 933
Capital increase as of 14.01.2010 12 504 623 625 231
Capital increase as of 22.04.2010 540 346 27 017
Option and share plans 441 103 22 055
Capital decrease – –
Balance as of 31.12.2010
45 584 723
2 279 236
The share capital of Meyer Burger Technology Ltd as of 31 December 2010 was divided into
45,584,723 registered shares with a par value of CHF 0.05 each. The share capital is fully paid
up.
The capital increase costs of TCHF 184 arising in connection with the 2010 capital increases
and the adjustment for fractions of units related to the merger with 3S Industries Ltd amounting
to TCHF 41 were offset against the capital reserves.
No dividend was paid in the reporting period or in the previous year. A proposal will once
more be submitted to the Annual General Meeting on 21 April 2011 to waive payment of a
dividend for fiscal year 2010 and to carry forward the retained earnings to finance further
growth.
Conditional capital
In accordance with Article 3b of the Articles of Association, Meyer Burger Technology Ltd
held conditional share capital as of 1 January 2010 of CHF 203,287.50 for option rights
granted to employees and members of the Board of Directors of Meyer Burger Technology
Ltd or of group companies. This capital was created by resolutions passed by the General
Meetings of Shareholders held on 29 September 2006 and 8 May 2008 and was adjusted in
conjunction with the merger with 3S Industries Ltd on the occasion of the company’s Extraordinary
General Meeting on 14 January 2010 due to the share split in a ratio of 1:10.
In accordance with Article 3c of the Articles of Association, Meyer Burger Technology Ltd
held conditional share capital as of 1 January 2010 of CHF 150,000 for conversion and/or
option rights granted in connection with convertible bonds, bonds with options or other
financial market instruments of the company or group companies. This capital was created
by a resolution passed by the General Meeting of Shareholders on 8 May 2008, was adjusted

Report FY 2010 Corporate Governance Financial Report Other Information
in conjunction with the merger with 3S Industries Ltd on the occasion of the Extraordinary
General Meeting of the company on 14 January 2010 due to the share split in a ratio of 1:10
and was subsequently increased from CHF 150,000 to CHF 200,000 on the occasion of the
Ordinary General Meeting of 29 April 2010.
Pursuant to Articles 3b and 3c of the Articles of Association, dated 29 April 2010, the share
capital may be increased as follows:
– The share capital may be increased by a maximum of CHF 202,512.50 through the exercise
of option rights granted to the employees and members of the Board of Directors of
Meyer Burger Technology Ltd or of group companies in accordance with a plan to be
devised by the Board of Directors. The preferential rights of the shareholders shall be
excluded. The new registered shares will be subject to the registration restrictions set forth
in Article 4 of the Articles of Association following acquisition.
– The share capital will be increased by a maximum amount of CHF 200,000 by virtue of the
exercise of conversion and/or option rights in conjunction with convertible bonds, bonds
with options or similar financial market instruments of Meyer Burger Technology Ltd or
group companies.
The preferential rights of shareholders are excluded in the event of the issuance of convertible
bonds, bonds with options or other financial market instruments which are linked to
conversion and/or option rights. Holders of conversion and/or option rights are entitled to
subscribe for the new shares. The acquisition of shares through the exercise of conversion
and/or option rights and each subsequent transfer of the shares is subject to the registration
restrictions set forth in Article 4 of the Articles of Association following acquisition.
The Board of Directors may limit or withdraw the preferential rights of shareholders to subscribe
to convertible bonds, bonds with option rights or similar financial market instruments
when they are issued, if:
– the financial instruments with conversion or option rights are issued in connection with the
financing or refinancing of the acquisition of an enterprise or parts of an enterprise, participations
or new investment projects, or
– an issue by firm underwriting by a bank or consortium of banks with subsequent offering
to the public without preferential subscription rights seems to be the most appropriate
form of issue at the time, particularly in terms of the conditions or time plan of the transaction.
If preferential subscription rights are withdrawn by a decision of the Board of Directors, the
following conditions shall apply:
– conversion rights may be exercisable for up to 10 years, option rights for up to 7 years
from the date of the respective issuance; and
– the respective financial market instruments must be issued at the relevant market conditions.
As a result of the exercise of option rights, the conditional share capital in accordance with
Article 3b of the Articles of Association was reduced to CHF 181,232.35 as of 31 December
2010. The conditional share capital in accordance with Article 3c of the Articles of Association
remained unchanged as of 31 December 2010 at CHF 200,000.
119

120 Meyer Burger Annual Report 2010
Authorised share capital
In accordance with its Articles of Association, as of 1 January 2010, Meyer Burger Technology
Ltd had an authorised share capital of CHF 188,500, issuable up to 8 May 2010, which was
created by a resolution passed by the Annual General Meetings held on 29 September 2006
and 8 May 2008. In conjunction with the completion of the purchase of the remaining 34%
participation in Hennecke Systems GmbH, 540,346 registered shares in the company were
issued from the then authorised share capital on 22 April 2010. This reduced the authorised
share capital to CHF 161,482.70. The continuation/creation of authorised capital in the maximum
amount of CHF 225,000, issuance of which is possible until 29 April 2012, was resolved
at the Ordinary General Meeting on 29 April 2010.
In accordance with Article 3a of the Articles of Association, dated 29 April 2010, the Board of
Directors is entitled to increase the share capital of Meyer Burger Technology Ltd by not more
than CHF 225,000 until 29 April 2012.
The Board of Directors is entitled to limit or exclude the subscription rights of the shareholders
or allocate them to third parties if the new shares are to be used for the following purposes:
– for the acquisition of enterprises, parts of enterprises, participations or new investment
projects;
– for the financing or refinancing of the acquisition of enterprises, parts of enterprises, participations
or new investment projects; or
– for a placement of shares in the capital market.
Shares for which subscription rights have been granted but not exercised should be used in
the interests of Meyer Burger Technology Ltd.
The increase may take place by means of a firm underwriting and/or in partial amounts. The
Board of Directors is entitled to set the issue price of the shares, the type of contribution and
the date of entitlement to dividends. Shares issued under these terms will be subject to the
registration restrictions set forth in Article 4 of the Articles of Association of Meyer Burger
Technology Ltd.

Report FY 2010 Corporate Governance Financial Report Other Information
6.18 Share-based payment
The Board of Directors of Meyer Burger Technology Ltd has approved an option plan for its
own members, the members of the Executive Board and other key employees in 2006, and
has granted options based on this plan. The options were allocated by the Board of Directors
free of charge and are non­transferable. The exercise price was calculated in each case on
the basis of the average closing price on the last 20 trading days prior to the allocation date.
Every option entitles the holder to subscribe for one registered share. The options may be
exercised after the expiry of a defined vesting period and during the exercise period, and only
while the holder has a valid employment contract or Board membership at the company.
Options that have not been exercised will be forfeited after the expiry of the exercise period.
The Board of Directors of Meyer Burger Technology Ltd approved in December 2009 to
replace the option plan with a share­based payment plan, which was applied for the first time
in 2010. A fixed number of Meyer Burger shares can be allocated annually. These shares
have a vesting period of two years and an optional retention period of zero, three or five years
that can be chosen by the participant (the retention period follows the end of the vesting
period). The amount of the share­based payment is calculated using the share price on the
day on which the recipients of the shares are informed of the share allocation and the appli­
cable terms and conditions.
The option plan (pursuant to paragraph 1) in force prior to the introduction of the share­based
payment plan will continue to run until such time as all options have been exercised, have
expired or have had to be cancelled. The options issued in 2010 were options from the 3S
Industries Ltd option plan which were acquired in the context of the merger with 3S Industries
Ltd and integrated into the Meyer Burger Technology Ltd option plan.
Share participation programme
The following shares were allocated during the 2010 reporting year:
Share-based compensation
2010 2009
Number of issued shares
134 230
–
Date of grant 15.12.2010 –
Share price at date of grant in CHF 28.90 –
Value of the granted shares in CHF 3 879 247 –
121

122 Meyer Burger Annual Report 2010
Option plan
Option plans
Number of
options
Average
exercise
price
Balance as of 1.1.2009
901 000 15.29
Issued 591 600 19.50
Expired (15 500) 17.15
Exercised (206 750) 11.23
Not exercised – –
Balance as of 31.12.2009 1 270 350 17.89
Thereof exercisable 244 750 –
Issued
–
–
Additions through merger with 3S 842 901 6.41
Expired (133 900) 17.69
Exercised (400 563) 8.70
Not exercised – –
Balance as of 31.12.2010 1 578 788 14.11
Thereof exercisable 916 471 –
The previous year’s figures with regard to number of options and average exercise price have
been adjusted in line with the share split in a ratio of 1:10 carried out on 14 January 2010.
The weighted average share price at the time the options were exercised in the reporting
period was CHF 27.46 (previous year: CHF 23.90).
Option expiration
Jahr
Average
exercise
price
in CHF
2010 2009
Number of
options
Average
exercise
price
in CHF
Number of
options
2010
–
– 4.83 30 250
2011 7.43 353 000 20.40 214 500
2012 12.06 563 471 15.37 434 000
2013 19.41 662 317 19.50 591 600
Options – 1 578 788 – 1 270 350
The previous year’s figures with regard to number of options and average exercise price have
been adjusted in line with the share split in a ratio of 1:10 carried out on 14 January 2010.

Report FY 2010 Corporate Governance Financial Report Other Information
Parameters of calculation and valuation at the time of grant
in TCHF Merger 3S
Tranche
2009
Grant date
14.01.2010 07.09.2009
Start of exercise period div. 07.09.2011
End of exercise period div. 06.09.2013
Holding period in years div. 3
Closing price in CHF 26.65 20.99
Exercise price in CHF 6.411) 19.50
Volatility 64% 1) 70%
Risk­free interest rate 1.061% 1) 1.429%
Expected employee fluctuation 8% 8%
Valuation at the time of option grant (CHF) 22.69 1) 8.77
The calculation parameters and the valuation of the 2009 tranche have been adjusted in line
with the share split based on a ratio of 1:10 carried out on 14 January 2010.
The options were valued at the time of issue on the basis of the extended Black­Scholes
model. The volatility of the tranches was calculated based on historical price movements. The
weighted average holding period for earlier tranches was used to calculate the holding period
for the 2009 tranche.
1) In conjunction with the merger with 3S Industries Ltd, a total of seven different option tranches
were acquired and integrated into Meyer Burger Technology Ltd’s existing option plan. The
allocation date for all of the acquired tranches is the date of the merger (14 January 2010). The
closing price of CHF 26.65 is the closing price on the date of the merger. The earliest date
on which exercising of the options may commence is 1 September 2009, and the latest date
for the commencement of the exercising of the options is 1 September 2011. The earliest date
on which exercising of the options may end is 31 August 2011, with the latest date being
31 August 2013. The holding period for the calculation of the value of the option at the time of
issue is between one and six years. The average weighted exercise price of the options
acquired as a result of the merger with 3S Industries Ltd is CHF 6.41 (lowest exercise price:
CHF 1.12, highest exercise price: CHF 19.04). The average weighted risk­free interest rate is
1.061% (lowest interest rate: 0.684%, highest interest rate: 1.814%). The average weighted
value at the time the acquired options were issued is CHF 22.69 (lowest value: CHF 17.24,
highest value: CHF 25.54).
6.19 Net sales
in TCHF 2010 2009
Net sales from sales of goods
789 894 412 526
Net sales from rendering of services 12 205 8 416
Net sales from construction contracts 23 906 –
Net sales 826 005 420 943
123

124 Meyer Burger Annual Report 2010
6.20 Other income
in TCHF 2010 2009
Capitalised service
8 788 5 108
Gain from sale of property, plant and equipment 1 236 4 929
Currency translation differences 5 265 1 602
Gain on foreign currency contracts 214 1 414
Gain from acquisition AMB Apparate + Maschinenbau GmbH – 3 710
Other income 8 221 236
Other income 23 723 16 999
6.21 Personnel expenses
in TCHF 2010 2009
Wages and salaries
(89 645) (49 470)
Social security (11 281) (5 533)
Expenses pension plan (defined contribution) (231) (17)
Expenses pension plan (defined benefit) (2 870) (2 039)
Share­based payments (6 536) (4 233)
Other long­term employee benefit (267) (240)
Other personnel expenses (11 844) (4 821)
Temporary personnel (11 186) (448)
Personnel expenses (133 859) (66 801)
6.22 Other operating expenses
in TCHF 2010 2009
Rental costs
(6 969) (3 987)
Maintenance and repair (6 348) (1 726)
Vehicles and transportation expenses (26 131) (6 593)
Property insurance, fees and contributions (1 945) (1 375)
Energy and waste disposal expenses (2 016) (793)
Administration expenses (14 591) (4 652)
IT expenses (5 335) (2 958)
Marketing expenses (6 330) (2 565)
Loss on sale of property, plant and equipment (113) (422)
Other operating expenses (17 578) (14 881)
Other operating expenses (87 357) (39 952)

Report FY 2010 Corporate Governance Financial Report Other Information
6.23 Financial income and expenses
in TCHF 2010 2009
Interests received
Cash and cash equivalents 1 887 672
Financial assets available­for­sale 1 230 –
Loans 5 3
Impairment on financial assets – –
available­for­sale – 106
Financial income
Interest paid
3 122 782
Liabilities banks (3 483) (919)
Loans – (61)
Adjustment present value obligation business combinations (360) (2 344)
Currency translation differences (net) (31 595) 1 643
Other financial expenses (2 166) (1 098)
Financial expenses paid (37 604) (2 779)
Financial result (net) (34 482) (1 998)
6.24 Income taxes
in TCHF 2010 2009
Current income taxes
(22 085) (19 764)
Deferred income taxes 26 665 9 625
Income taxes 4 580 (10 139)
Transition calculation from expected to effective income taxes
Earnings before taxes (EBT) 93 369 39 317
Expected average weighted tax rate (%) 22.50% 22.50%
Expected income taxes
Cause for variance:
(21 008) (8 846)
Decrease in tax rate at Meyer Burger Ltd due to granted tax relief 14 125 –
Income tax in other accounting periods 11 796 (388)
Other deviation from tax rate to the expected tax rate of the Group (3 636) 1 713
Subsequent capitalisation of loss carry forwards from previous years 2 169 27
Waive of deferred income tax credit capitalisation of fiscal losses (1 812) (3 428)
Change of deferred income tax rate in comparison to previous year 1 601 –
Non­deductible expenses 849 7
Tax­exempt incomes 381 587
Other effects 116 189
Income taxes 4 580 (10 139)
Effective income taxes in % (4.9)% 25.8%
The expected tax rate of 22.5% has been calculated from the probable income tax rates applicable
to the operating companies in Switzerland, which may naturally change depending
on the level of their individual earnings.
The difference in the effective income tax expense in percent compared with the previous
year and compared with the expected rate of tax is primarily due to the tax relief granted to
125

126 Meyer Burger Annual Report 2010
Meyer Burger Ltd, Thun. The fact that this tax relief has been applied retrospectively with
effect from 1 January 2008 resulted in income from other periods in the form of tax credits
from the years 2008 and 2009, in addition to the lower rate of tax during the reporting year.
6.25 Currency translation differences
in TCHF 2010 2009
Other income
5 265 2 091
Cost of products and services (4 146) 285
Other operating expenses (34) (52)
Financial expenses (31 595) 1 643
Currency translation differences (30 510) 3 966
6.26 Earnings per share
in TCHF 2010 2009
Basic earnings
Group earnings attributable to shareholders of Meyer Burger Technology Ltd 97 948 29 177
Weighted average number of outstanding shares (in 1 000) 44 193 30 793
Basic earnings per share in CHF 2.22 0.95
Diluted earnings
Group earnings attributable to shareholders of Meyer Burger Technology Ltd 97 948 29 177
Weighted average number of outstanding shares (in 1 000) 44 193 30 793
Adjustment of share options issued (in 1 000) 799 95
Weighted average number of outstanding shares diluted (in 1 000) 44 992 30 888
Diluted earnings per share in CHF 2.18 0.94
The basic earnings per share are calculated by dividing earnings for the reporting period
by the average number of outstanding shares. The dilution takes into account the possible in­
fluence of the conversion of options from the employee participation programme.
A resolution on a share split in the ratio of 1:10 was passed at the Extraordinary General
Meeting on 14 January 2010. This share split was taken into account for the calculation of
the earnings per share. The previous year’s figure was also adjusted in line with the higher
number of outstanding shares.
As of 31 December 2010, there were no issued options which were not included in the calculation
of the dilution for 2010, as the exercise prices of all option tranches were lower than
the average share price in 2010.
A capital increase in connection with the merger with 3S Industries Ltd, Lyss, Switzerland,
was approved at the Extraordinary General Meeting of 14 January 2010. The Meyer Burger
Technology registered shares required for the share swap were created by means of the capital
increase. The share capital was increased after the General Meeting by CHF 625,231.20
(12,504,624 registered shares at a par value of CHF 0.05) for the purpose of completing the
merger. The new shares will be entitled to all dividends approved by the General Meeting from
the time of completion of the merger with the 3S Group onwards. These new shares were

Report FY 2010 Corporate Governance Financial Report Other Information
taken into account in the above calculation of earnings per share in 2010. The calculations
for 2009 did not take into account the shares that were newly created in 2010, since these
new shares did not affect the capital contribution used to generate the profit. For information
on the merger with the 3S Group, see Note 6.30.1.
6.27 Contingent liabilities
The guarantees amounting to TCHF 149,500 recognised in the 2009 Annual Report related
to guarantees by Meyer Burger Technology Ltd for obligations of Meyer Burger Ltd in connection
with taking up the syndicated loan. This is an intragroup guarantee and not a contingent
liability towards third parties. As of 31 December 2010, there were no contingent liabilities
vis­à­vis third parties.
6.28 Leasing
Future liabilities from operating leasing
in TCHF 31.12.2010 31.12.2009
Due date in the following fiscal year
6 131 3 793
Due date from 1 to 5 years 12 812 8 835
Due date more than 5 years 33 775 3 250
Future liabilities from operating leasing 52 718 15 878
Leasing payments reflected in income statement
Minimal leasing payment 9 652 3 361
Conditional leasing payment 270 23
Obligations arising from operating leases mainly relate to obligations for non­cancellable
rights to build and rental agreements. The largest items are composed as follows:
– Right to build agreement: Meyer Burger Ltd has entered into a right to build agreement
with the city of Thun for the construction of new company premises. The agreement has a
term of 99 years. Future lease obligations for this future ground rent amount to CHF 30.6
million.
– Rental agreements for property leased by Meyer Burger Ltd (CHF 4.4 million), Diamond
Materials Tech, Inc. (CHF 5.5 million), Somont GmbH (CHF 4.7 million) and Meyer Burger
Machinery (Shanghai) Co. Ltd. (CHF 2 million).
The expenses for operating lease obligations recognised in the income statement amounted
to CHF 9.7 million in the reporting period (previous year: CHF 3.4 million).
6.29 Fire insurance values
in TCHF 31.12.2010 31.12.2009
Inventories and equipment
257 613 178 725
Fire insurance values 257 613 178 725
127

128 Meyer Burger Annual Report 2010
6.30 Business combinations
6.30.1 Merger with 3S Industries Ltd
At the Extraordinary General Meeting of Meyer Burger Technology Ltd on 14 January 2010 in
Berne, the shareholders agreed to the merger with 3S Industries Ltd, Lyss, Switzerland. The
General Meeting of Meyer Burger Technology Ltd approved the merger between the company
and 3S Industries Ltd and the merger agreement of 8 December 2009. The Extraordinary General
Meeting of 3S Industries Ltd, also held on 14 January 2010, likewise gave its full consent
to the merger with Meyer Burger Technology Ltd. On the basis of the approved merger agreement
and the statutory regulations, Meyer Burger took over all assets and liabilities of 3S Industries
Ltd in the merger.
3S Industries Ltd was integrated into Meyer Burger Technology Ltd in the absorption merger
and was deregistered upon its completion, or rather when the merger was entered in the
commercial register. The following group companies of 3S Industries Ltd were thus transferred
to Meyer Burger Technology Ltd in the merger:
– 3S Swiss Solar Systems Ltd, Lyss (Switzerland)
– 3S Swiss Solar Equipment Ltd, Lyss (Switzerland)
– Pasan SA, Neuchâtel (Switzerland)
– Somont GmbH, Umkirch (Germany)
– Service companies in the USA, Singapore, Spain and Hong Kong
100% of the shares in the equity and voting rights of the above­mentioned companies was
acquired.
Through this merger, Meyer Burger Group became the first global technology group in the
solar industry to cover the key technology steps in the photovoltaics value chain from solar
silicon to finished solar installations. The business combination offers fully integrated production
solutions for the solar industry consisting of machinery and automated production lines,
critical consumables, process know­how and local service from a single source. The combination
of these core competences is unique and enables further significant cost reductions
along the entire manufacturing chain, with the aim of reaching the targeted grid parity for
solar energy even more quickly. The companies are an ideal fit in terms of technology portfolio
and geographical presence, and have a global sales and service network at their disposal
which is unique in the industry.

Report FY 2010 Corporate Governance Financial Report Other Information
The following assets were acquired through the merger with 3S Industries Ltd:
in TCHF Fair value
Cash and cash equivalents
46 924
Trade receivables 14 963 1
Financial assets 79
Inventory 28 245
Property, plant and equipment 8 154
Intangible assets 184 655
Deferred tax assets 252 2
Other receivables 8 251 3
Trade payables (11 710)
Customer prepayments (5 096)
Provisions (4 108)
Deferred tax liabilities (43 007) 4
Defined benefit obligation (3 281)
Other liabilities (18 980)
Acquired net assets 205 340
Goodwill 141 503 4
Purchase price 346 843
plus acquired cash and cash equivalents 46 924
less value of employee options absorbed (14 803)
less fair value of shares issued (331 998)
less paid value for fraction of shares in the merger (41)
Net cash inflow 46 924
1 Gross amount of contractual trade receivables TCHF 16 053
Operating value adjustments TCHF (1 089)
Fair value of acquired trade receivables TCHF 14 963
2 The gross amount of deferred tax assets relates to carry forward losses that have not been used tax wise and reflect the
fair value at the time of the acquisition.
3 The other receivables consist of other receivables third parties, prepayments to suppliers and prepaid expenses. The
gross amount of these other receivables reflect the fair value at the time of the acquisition.
4 3S Swiss Solar Systems Ltd received a tax relief at the end of 2010 that will be applicable for reporting periods starting
from 2011. Due to this tax relief the tax rate for the calculation of the deferred income tax liabilities at the time of the acquisition
is reduced when compared to the amount published in the Half Year report 2010. The reduction in the deferred
income tax liabilities due to the lower tax rate has resulted in a change in goodwill.
In the context of the purchase price allocation, intangible assets (brand names, customer
relationships, technologies, software, order backlog) were identified, measured and assigned
to the acquired companies.
The goodwill recognised that is not assigned to any asset category represents strategic advantages
resulting from the business combination. These include complementary product
ranges, growth potential, anticipated synergies, the acquired know­how of the employees,
network setup costs and a premium paid for the business combination.
Between the purchase date and 31 December 2010, the acquired 3S companies generated
net revenue of TCHF 132,443 and realised a loss of TCHF 8,175. This loss results largely
from the amortisation of the intangible assets acquired in the merger, amounting to TCHF
31,211. If the companies had been included in the consolidated financial statements as at
129

130 Meyer Burger Annual Report 2010
1 January 2010, this would not have had a material effect on the earnings or net revenue of
the Meyer Burger Group.
6.30.2 Buyout of the remaining Hennecke participation
A 66% majority participation in Hennecke Systems GmbH (Hennecke) of Zülpich, Germany,
was acquired on 14 February 2008. The purchase agreement included an option for Meyer
Burger to purchase the remaining 34%, which, under the agreement, could have been exercised
in 2011. The payment for the remaining participation was estimated at CHF 38.5 million
at the time of the acquisition on 14 February 2008.
On 22 April 2010, Meyer Burger took over this remaining 34% by exercising the purchase
option early and making a payment of CHF 39.4 million (CHF 24.9 million in cash and
CHF 14.5 million by issuing shares in Meyer Burger Technology Ltd).
Under the contractual agreement, the payment still to be made in relation to the purchase
option for the remaining 34% of the shares was to result from the EBITDA achieved by
Hennecke in 2010 and an adjusted capital market multiplier for Meyer Burger Technology Ltd.
On the basis of revised estimates of the 2010 EBITDA and the adjusted capital market
multiplier, the value of the purchase option as of 31 December 2009 was reduced by CHF
13.8 million compared with the estimate at the time of the acquisition and by CHF 1.3 million
compared with 31 December 2008.
Hennecke’s order situation developed very positively in 2010, partly in conjunction with
large orders which the company was able to acquire through the Meyer Burger Group. The
EBITDA estimate for 2010 and the capital market multiplier of Meyer Burger Technology Ltd
had therefore increased accordingly at the time of the remaining payment being made. The
purchase obligation of CHF 24.1 million recognised in the balance sheet was discharged
by the early exercise of the purchase option as at 22 April 2010. The share of the remaining
payment in excess of the purchase obligation, amounting to CHF 15.3 million, was capitalised
as additional goodwill.
6.30.3 SGS
With effect from 1 December 2010, MBT Systems Ltd (formerly 3S Industries USA, Inc.) acquired
certain assets and employees from SGS Slicing Solutions, Inc., Colombia, New Jersey,
and from SGS Machine Tool, LLC, Hillsboro, Oregon, at their carrying amounts. The purchase
price was TUSD 1,150.
Both companies had been long­term strategic sales and service partners to MB Wafertec
(Meyer Burger Ltd) in the area of sawing systems and solutions. At the same time, MBT Systems
Ltd became a subsidiary of Diamond Materials Tech, Inc. and took over the sales and
service functions for the Meyer Burger technology group in the USA.

Report FY 2010 Corporate Governance Financial Report Other Information
6.31 Significant shareholders
Meyer Burger Technology Ltd has the following significant shareholders:
Shareholder Voting rights
31.12.2010
Vontobel Fonds Services AG CH­Zurich 5.05%
Peter Pauli CH­Möhlin 3.60% 1
31.12.2009
Vontobel Fonds Services AG CH­Zurich 7.65%
Peter Pauli CH­Möhlin 5.71% 1
Eiger Investments, LLC (formerly Diamond Wire Technology, LLC) USA­Colorado Springs 3.07%
1 The voting rights reflect the participation held by registered shares, employee options, and restricted shares.
6.32 Compensation, participations and loans to members of the Board of
Directors, Advisory Board and Executive Board (disclosure in accordance
with the Swiss Code of Obligations)
6.32.1 Compensation to non-executive members of the Board of Directors
2010
Name
Position
in Board of
Directors
Honorarium 1
(CHF)
Share related
compensation 2
(number)
Share related
compensation 2
(CHF)
Additional
compensation 3
(CHF)
Social benefits 4
(CHF)
Peter M. Wagner
Chairman
203 000 2 500 72 125 126 520 27 089 428 734
Dr. Alexander Vogel Vice Chairman 103 000 1 500 43 275 – 7 946 154 221
Rudolf Samuel Güdel Member 70 000 1 000 28 850 – 5 400 104 250
Heinz Roth Member 93 000 1 000 28 850 – 7 175 129 025
Rolf Wägli Member 93 000 1 000 28 850 – 42 879 164 729
Prof. Dr. Eicke Weber Member 5 – – – – – –
Prof. Dr. Konrad Wegener Member 55 000 1 000 28 850 – 4 243 88 093
Total 617 000 8 000 230 800 126 520 94 732 1 069 052
1 Fees as a member of the Board of Directors and member of the Board of Directors’ committees.
2 The shares were allocated on 15 December 2010 with a nominal value of CHF 0.05. The share price at the time of issue
was CHF 28.90. In calculating the total compensation, the allocated shares were valued at CHF 28.85. The shares have
a vesting period of 2 years. Upon termination of an individual’s employment contract or Board membership, the shares
for which the two­year vesting period has not yet expired will be returned to the company.
3 The additional compensation for Peter M. Wagner includes the compensation for his role as temporary Chief Operating
Officer (COO) at AMB Apparate + Maschinenbau GmbH.
4 Includes post­employment benefits on Board of Directors’ fee, on additional compensations, and on options exercised
during the reporting year.
5 Prof. Dr. Eicke Weber was a member of the Board of Directors until 14 January 2010 and did not receive any compensation
to cover the period 1 January to 14 January 2010.
131
Total
(CHF)

132 Meyer Burger Annual Report 2010
Name
2009
Position
in Board of
Directors
Honorarium
(CHF)
Options 1
(number)
Options 1
(CHF)
Additional
compensation 2
(CHF)
Social benefits
(CHF)
Peter M. Wagner
Chairman
92 000 25 000 219 300 63 360 12 417 387 077
Dr. Alexander Vogel Vice Chairman 63 660 15 000 131 580 – 3 861 199 101
Prof. Dr. Eicke Weber Member 58 660 10 000 87 720 – – 146 380
Heinz Roth Member 42 433 10 000 87 720 – 2 573 132 726
Total 256 753 60 000 526 320 63 360 18 851 865 284
Total
(CHF)
1 The number of options and exercise prices were adjusted in conjunction with the share split of 1:10 on 14 January 2010.
The options were allocated free of charge on 7 September 2009. They are non­transferable. The exercise price is CHF
19.50 per option (prior to the share split CHF 195). The exercise price was calculated on the basis of the average closing
price on the last 20 trading days prior to the allocation date. Each option entitles the holder to subscribe for one
registered share in Meyer Burger Technology Ltd. The options have a vesting period of 2 years. The exercise period is
from 7 September 2011 to 6 September 2013. Options may only be exercised while the holder has a valid employment
contract or Board membership at the company. Options that have not been exercised will be forfeited after the expiry of
the exercise period. In calculating the total compensation, the options were measured at CHF 8.772 per option (prior to
the share split CHF 87.72). For more information on the calculation parameters and measurement of the options, see
Note 7.18.
2 The additional compensation for Peter M. Wagner includes professional service fees of CHF 44,960 and a bonus for his
work as Head of Research & Development at Meyer Burger Ltd in 2008 (CHF 18,400).
6.32.2 Compensation to members of the Technology Advisory Board
2010
Name Position
Honorarium
(CHF)
Total
(CHF)
Prof. Dr. Eicke Weber
Chairman
13 000 13 000
Dr. Patrick Hofer­Noser Member 1 – –
Sylvère Leu Member 1 – –
Ralf Preu Member 5 250 5 250
Prof. Dr. Konrad Wegener Member – –
Total 18 250 18 250
1 Dr. Patrick Hofer­Noser and Sylvère Leu do not receive any separate payment for their role on the Advisory Board. The
compensation is included in their compensation as members of the Executive Board (see following section).
2009
No compensation in the 2009 reporting year, as the Technology Advisory Board was set up
in 2010.

Report FY 2010 Corporate Governance Financial Report Other Information
6.32.3 Compensation to the members of the Executive Board
2010
Name Position
Basic salary 1
(CHF)
Bonus
(CHF)
Share related
compensation 2
(number)
Share related
compensation 2
(CHF)
Compensation
in kind 3
(CHF)
Social
benefits
(CHF)
Peter Pauli
Other members of the
CEO
270 400 322 840 8 900 256 765 7 619 111 299 968 923
Executive Board
711 532 506 200 18 900 545 265 17 037 330 697 2 110 731
Total 981 932 829 040 27 800 802 030 24 656 441 996 3 079 654
1 Peter Pauli was a member of the Board of Directors until 14 January 2010. His basic salary includes his contractually
agreed fixed salary as CEO of the company and his pro rata fee as a member of the company’s Board of Directors.
2 The shares were allocated on 15 December 2010 with a nominal value of CHF 0.05. The share price at the time of issue
was CHF 28.90. In calculating the total compensation, the allocated shares were valued at CHF 28.85. The shares have a
vesting period of 2 years. Upon termination of an individual’s employment contract or Board membership, the shares for
which the two­year vesting period has not yet expired will be returned to the company. For further information on the share
plan, see Note 6.18.
3 Compensation in kind includes the payment for private use of a company car. The sum declared in the salary statement
for the purpose of filing a tax return under “private share of company car” was applied as a component of salary.
2009
Name Position
Basic salary 3
(CHF)
Bonus
(CHF)
Options
(number)
Options 1
(CHF)
Compensation
in kind 2
(CHF)
Social benefits
(CHF)
Peter Pauli Delegate of the
Board of Directors,
Chief Executive Director 256 100 255 288 7 400 649 128 7 619 129 550 1 297 685
Michel Hirschi Chief Financial Officer 195 160 91 821 5 000 438 600 5 621 65 028 796 230
Total 451 260 347 109 12 400 1 087 728 13 240 194 578 2 093 915
1 Options were allocated to the members of the Executive Board in the 2009 reporting year on the same conditions as
those allocated to the non­executive members of the Board of Directors. For details of the options, please refer to footnote
1) below the table showing the compensation to non­executive members of the Board of Directors for 2009.
2 Compensation in kind includes the payment for private use of a company car. The sum declared in the salary statement
for the purpose of filing a tax return under “private share of company car” was applied as a component of salary.
3 Peter Pauli’s basic salary includes his contractually agreed fixed salary as CEO of the company and his fee as a member
of the company’s Board of Directors.
6.32.4 Compensation to related parties
The related parties consist primarily of shareholders, members of the Board of Directors,
pension funds, members of the Executive Board and non­consolidated subsidiaries.
Information on the allocation of free options to the Board of Directors and Executive Board is
disclosed in detail in Note 6.32.
The company and Meyer Burger Ltd procure advisory services from meyerlustenberger,
among others. Dr Alexander Vogel, member of the Board of Directors, is a partner in this law
firm. The scope of the services performed came to TCHF 615 in the 2010 fiscal year and
TCHF 883 in the 2009 fiscal year.
133
Total
(CHF)
Total
(CHF)

134 Meyer Burger Annual Report 2010
In addition to his role on the Board of Directors, Peter M. Wagner also held the position of tem­
porary Chief Operating Officer (COO) of AMB Apparate + Maschinenbau GmbH in 2010. His
compensation in this regard totalled TCHF 127 in 2010. A fee of TCHF 18 (bonus for 2008) was
paid to Mr Wagner in 2009 for his work as interim Head of Research & Development at Meyer
Burger Ltd in 2008. He also invoiced TCHF 45 for additional professional services in 2009.
The company procures services from the Güdel Group. Mr Rudolf Güdel was a member of the
Board of Directors of 3S Industries AG and, since the merger on 14 January 2010, has been a
member of the Board of Directors of Meyer Burger Technology Ltd. He holds a participation in
Güdel Group and is also a member of its Board of Directors. The total value of procured services
during the 2010 reporting year was CHF 4.4 million. Companies in the Güdel Group purchased
goods and services from Pasan SA in the amount of TCHF 122 during the year under
review. In 2009, Mr Rudolf Güdel was not yet a member of the Board of Directors of Meyer
Burger Technology Ltd, with the result that he and his related parties were not included in the
company’s group of related parties.
The company procures services from CLS Communication AG (a wholly owned subsidiary of
CLS Corporate Language Services Holding AG). CFO Michel Hirschi is a member of the Board
of Directors of CLS Corporate Language Services Holding AG. The scope of the services performed
came to TCHF 51.2 in the 2010 fiscal year and TCHF 26 in the 2009 fiscal year.
The Fraunhofer Institute for Solar Systems ISE, in Freiburg, Germany, headed by Professor
Eicke R. Weber, invoiced the Meyer Burger Group TCHF 6 in 2009 for services in connection
with technical support and expert reports. No services were obtained from this institute during
the reporting year.
Of the compensation to related parties described above, TCHF 386 (31.12.2009: TCHF 519)
had not yet been paid as at 31 December 2010 and was recognised as a liability in the balance
sheet. Of the goods and services provided to related parties, TCHF 186 (31.12.2009: CHF 0)
had not yet been paid as at 31 December 2010 and was recognised as a receivable in the balance
sheet.
All business relationships with related parties are conducted at “arm’s length”. No unusual
transactions were effected with either the main shareholders or other related parties.
6.32.5 Compensation to former Board members
No compensation was paid to former Board members in 2009 or 2010.
6.32.6 Loans and credits to members of the Board of Directors or the Executive Board
As of 31 December 2010 and 31 December 2009 respectively, there were no company
loans or credits outstanding to the current members of the Board of Directors, the Executive
Board or or the Technology Advisory Board. There were also no loans or credits outstanding
to former members of the Board of Directors or the Executive Board or any related party.

Report FY 2010 Corporate Governance Financial Report Other Information
6.32.7 Participations in the company
2010
The members of the Board of Directors, the Technology Advisory Board and the Executive
Board (including related parties) held the following participations through shares, option
rights and restricted shares in Meyer Burger Technology Ltd as of 31 December 2010:
Name Position
Peter M. Wagner Chairman of the Board
of Directors
Dr. Alexander Vogel Vice Chairman of the
Board of Directors
Rudolf Samuel Güdel Member of the Board
of Directors
Heinz Roth Member of the Board
of Directors
Rolf Wägli Member of the Board
of Directors
Prof. Dr. Konrad Wegener
Member of the Board
of Directors
Registered
shares
(number)
6 500
50 000
–
10 000
–
–
Options 1
(number)
75 000
45 000
7 143
10 000
14 643
3 571
Restricted
shares 2
(number)
2 500
1 500
1 000
1 000
1 000
1 000
Total participation
(in % of
outstanding
shares)
0.18%
0.21%
0.02%
0.05%
0.03%
0.01%
Prof. Dr. Eicke Weber Chairman of the Technology
Advisory Board
– 30 000
– 0.07%
Peter Pauli Chief Executive Officer 1 484 000 148 000 8 900 3.60%
Michel Hirschi Chief Financial Officer 215 000 150 000 6 000 0.82%
Patrick Hofer­Noser Chief Technology Officer,
Deputy CEO
113 368 304 077 7 400 0.93%
Sylvère Leu Chief Innovation Officer – – 5 500 0.01%
1 Details of the options are shown in the following table.
2 Details of the shares (in vesting period) are shown in the following table.
3 Total participation in accordance with the regulations of SESTA, in force since 1 December 2007, showing the participation
(including options) as a percentage of the number of outstanding registered shares as of 31 December 2010.
Details in relation to options
Details of total options held by the members of the Board of Directors, the Executive Board
and the Technology Advisory Board as of 31 December 2010:
Grant date
Number
of options
Exercise price
(CHF) Ratio
Vesting
period Exercise period
12.09.2007
90 000 20.40 1 : 1 2 years
14.09.2009–14.09.2011
04.11.2008 174 000 15.37 1 : 1 2 years 04.11.2010–04.11.2012
07.09.2009 184 000 19.50 1 : 1 2 years 07.09.2011–06.09.2013
14.01.2010 1 329 434 6.41 1 : 1 div. div.
1 The options issued in 2010 were options from the 3S Industries Ltd option plan which were acquired in the context of
the merger with 3S Industries Ltd and integrated into the Meyer Burger Technology Ltd option plan.
The options were granted free of charge. They are non­transferable. Each option entitles the
holder to subscribe for one registered share in Meyer Burger Technology Ltd. After the defined
vesting period, the options may be exercised during the exercise period, but only if the
holder has a valid employment contract or Board membership. Options that have not been
exercised will be forfeited after the expiry of the exercise period.
135

136 Meyer Burger Annual Report 2010
Details of shares in vesting period
Granted
15.12.2010
Number
of shares Vesting until
35 800
01.12.2012
2009
The members of the Board of Directors and the Executive Board (including related parties)
held the following participations through shares and option rights in Meyer Burger Technology
Ltd as of 31 December 2009:
Name Position
Registered
shares
(number)
Options 1
(number)
Participation
total 2
(in % of
outstanding
shares)
Peter M. Wagner
Chairman of the Board of Directors
4 000 75 000 0.25%
Dr. Alexander Vogel Vice Chairman of the Board of Directors 50 000 45 000 0.30%
Prof. Dr. Eicke Weber Member of the Board of Directors – 30 000 0.09%
Heinz Roth Member of the Board of Directors
Delegate of the Board of Directors,
– 10 000 0.03%
Peter Pauli
Chief Executive Officer
1 647 000 185 000 5.71%
Michel Hirschi Chief Financial Officer 210 000 155 000 1.14%
1 Details of the options are shown in the following table.
2 Total participation in accordance with the regulations of SESTA, in force since 1 December 2007, showing the participation
(including options) as a percentage of the number of outstanding registered shares as of 31 December 2009.
Details of total options held by the members of the Board of Directors and the Executive
Board as of 31 December 2009:
Grant date
Number
of options
Exercise price
(CHF) Ratio
Vesting
period Exercise period
05.10.2006
5 000 4.83 1 : 1 2 years
05.10.2008–05.10.2010
12.09.2007 137 000 20.40 1 : 1 2 years 14.09.2009–14.09.2011
04.11.2008 174 000 15.37 1 : 1 2 years 04.11.2010–04.11.2012
07.09.2009 184 000 19.50 1 : 1 2 years 07.09.2011–06.09.2013
The options were granted free of charge. They are non­transferable. Each option entitles the
holder to subscribe for one registered share in Meyer Burger Technology Ltd. After the defined
vesting period, the options may be exercised during the exercise period, but only if the
holder has a valid employment contract or Board membership. Options that have not been
exercised will be forfeited after the expiry of the exercise period.

Report FY 2010 Corporate Governance Financial Report Other Information
6.33 Disclosures on implementation of a risk assessment pursuant to the
Swiss Code of Obligations
In its capacity as an international group, Meyer Burger Group is exposed to various financial
and non­financial risks that are inextricably linked to its business activities. In the broadest
sense, the risks are defined as the threat that it might not be possible for the Group to
achieve its financial, operational or strategic aims as planned. In order to secure the Group’s
long­term corporate success, it is therefore crucial that risks are identified effectively, analysed
and either eliminated or limited by means of suitable measures.
Clearly defined management information and control systems are used to measure, monitor
and control the risks to which Meyer Burger is exposed. Detailed reports are prepared on a
half­yearly basis, and the Board of Directors is briefed accordingly. In 2010, the Board of
Directors discussed the risk portfolio during two Board meetings.
For the purposes of guaranteeing effective risk management, transparency and the aggregation
of risks in risk reporting, Meyer Burger has opted for a uniform and integrated approach
to corporate risk management across the Group as a whole.
As part of the risk assessment process, the probability of occurrence and the extent of the
loss are considered. Meyer Burger uses both quantitative and qualitative methods for this
process, applying these on a uniform basis across the Group as a whole and thereby enabling
risk assessments to be compared across different areas of the company. Based on
the results for probability of occurrence and expected implications, a clear risk assessment
matrix is drawn up.
To ensure transparency with regard to all risks within the Group and also to facilitate risk
management and reporting processes, the risk portfolio is managed and maintained using
organisational and process management software (IMS­KWP).
6.34 Events after the reporting date
There have been no events since the balance sheet date that could have a material influence
on the 2010 annual financial statements.
137

138 Meyer Burger Annual Report 2010
Report of the auditors

Report FY 2010 Corporate Governance Financial Report Other Information
Report of the auditors
139

140 Meyer Burger Annual Report 2010
Financial Statements Meyer Burger Technology Ltd
Balance sheet
in TCHF 31.12.2010 31.12.2009
Assets
Current assets
Cash and cash equivalents 79 152 16 023
Treasury shares 574 –
Receivables intercompany 17 916 4 148
Other receivables third parties 133 32
Other receivables intercompany 119 154 71 378
Accruals third parties 164 82
Total current assets
Long-term assets
217 093 91 663
Investments 10 542 37 051
Loans intercompany 9 974 –
Property, plant and equipment 62 83
Intangible assets 910 –
Total long-term assets 21 488 37 134
Total assets 238 581 128 797
Liabilities and equity
Liabilities
Liabilities third parties 2 156 1 293
Liabilities intercompany 255 15
Deferrals third parties 6 012 2 417
Long­term provisions 99 33
Total liabilities
Equity
8 522 3 758
Share capital 2 279 1 605
Capital reserves 175 276 89 141
Reserve for treasury shares 574 –
Retained earnings 51 930 34 293
Total equity 230 059 125 039
Total liabilities and equity 238 581 128 797

Report FY 2010 Corporate Governance Financial Report Other Information
Income statement
in TCHF 1.1.–31.12.2010 1.1.–31.12.2009
Income
Other operating income 16 003 10 245
Dividend income 35 000 25 000
Financial income 209 1 519
Interest income 7 050 1 620
Profit from foreign currency translations – 1 424
Total income
Expenses
58 262 39 808
Personnel expenses 6 557 2 485
Compensation to Board of Directors and Technology Advisory Board 635 257
Administrative expenses 9 761 3 682
Interest on loans – 105
Financial expenses 1 689 –
Bank interest and fees 253 48
Loss from currency translations 21 635 –
Depreciation and amortisation 96 48
Taxes (1) 605
Total expenses 40 625 7 230
Net profit 17 637 32 578
141

142 Meyer Burger Annual Report 2010
Notes to the financial statements
Information on significant investments
in TCHF 31.12.2010 31.12.2009
Meyer Burger Ltd, Thun
Purpose: Manufacturing and trading in machines and their parts
Share capital 500 500
Percentage of capital held 100% 100%
Meyer Burger GmbH, Langenfeld
Purpose: Holding of participations of Meyer Burger Group in Germany (Holding company)
Common stock 41 41
Percentage of capital held 100% 100%
Meyer Burger France SAS, Paris
Purpose: Holding of participations of Meyer Burger Group in France (Holding company)
Share capital – 60
Percentage of capital held – 100%
MB Services AS, Porsgrunn
Purpose: Providing of services
Common stock 20 20
Percentage of capital held 100% 100%
MB Services Pte. Ltd., Singapore
Purpose: Providing of services
Common stock 0 0
Percentage of capital held 100% 100%
MB Services Co. Ltd., Taiwan
Purpose: Providing of services
Common stock 166 49
Percentage of capital held 100% 100%
Meyer Burger Systems (Shanghai) Co. Ltd., Shanghai
Purpose: Providing of services
Common stock 1 080 –
Percentage of capital held 100% –
3S Swiss Solar Systems Ltd, Lyss
Purpose: Management and operation of companies in the area of solar energy
Share capital 3 000 –
Percentage of capital held 100% –
Pasan SA, Neuchâtel
Purpose: Manufacturing, purchase and sales of electronic, electromechanical and
audiovisual solar power plants
Share capital 102 –
Percentage of capital held 100% –
3S Industries Ltd, Hong Kong
Purpose: Providing of services
Common stock 0 –
Percentage of capital held 100% –

Report FY 2010 Corporate Governance Financial Report Other Information
in TCHF 31.12.2010 31.12.2009
Meyer Burger S.L., Barcelona
Purpose: Providing of services
Common stock 4 –
Percentage of capital held 100% –
MB Systems PVT, Ltd, Pune, India
Purpose: Providing of services
Common stock 21 –
Percentage of capital held 85% –
MB Systems Co. Ltd, Seoul
Purpose: Providing of services
Common stock 45 –
Percentage of capital held 100% –
Other operating income
Other operating income in fiscal year 2010 includes mainly management fees that were
invoiced to the consolidated companies.
Dividend income
The disclosed dividend income of TCHF 35,000 in fiscal year 2010 reflects the dividend payout
for fiscal year 2009 that was authorised by the Ordinary General Meeting of Shareholders
of Meyer Burger Ltd, Thun, held on 6 April 2010.
Interest income
The reported interest income in fiscal year 2010 includes mainly the interest received for
loans to consolidated group companies.
Loss from foreign currency translations
The decline of the Euro against the Swiss Franc compared with year­end 2009 led to a substantially
lower valuation of intercompany loans to foreign subsidiaries as of the balance sheet
date 31 December 2010. The loss from foreign currency translations is mainly due to this new
valuation as of 31 December 2010.
Leasing liabilities not entered in the balance sheet
Leasing liabilities not entered in the balance sheet amounted to TCHF 40 in fiscal year 2010
and to TCHF 32 in the previous year.
Liabilities towards pension plan institutions
Liabilities towards pension plan institutions amounted to TCHF 5 in fiscal year 2010. There
were no liabilities towards pension plan institutions in the previous year.
Guarantees, pledged assets
Meyer Burger Technology Ltd guarantees for a credit line of Meyer Burger Ltd in a maximum
amount of TCHF 149,500. The credit limit amounts to TCHF 130,000.
Meyer Burger Technology Ltd guarantees for the fleet framework contract with a total
guarantee of TCHF 2,000.
143

144 Meyer Burger Annual Report 2010
Share capital
The share capital of Meyer Burger Technology Ltd as of 31 December 2010 is divided into
45,584,723 registered shares with a par value of CHF 0.05 each. The share capital is fully
paid up.
Conditional capital
In accordance with Article 3b of the Articles of Association, Meyer Burger Technology Ltd
held conditional share capital as of 1 January 2010 of CHF 203,287.50 for option rights
granted to employees and members of the Board of Directors of Meyer Burger Technology
Ltd or of group companies. This capital was created by resolutions passed by the General
Meetings of Shareholders held on 29 September 2006 and 8 May 2008 and was adjusted
in conjunction with the merger with 3S Industries Ltd on the occasion of the company’s
Extra ordinary General Meeting on 14 January 2010 due to the share split in a ratio of 1:10.
In accordance with Article 3c of the Articles of Association, Meyer Burger Technology Ltd
held conditional share capital as of 1 January 2010 of CHF 150,000 for conversion and/or
option rights granted in connection with convertible bonds, bonds with options or other
financial market instruments of the company or group companies. This capital was created
by a resolution passed by the General Meeting of Shareholders on 8 May 2008, was adjusted
in conjunction with the merger with 3S Industries Ltd on the occasion of the Extraordinary
General Meeting of the company on 14 January 2010 due to the share split in a ratio of 1:10
and was subsequently increased from CHF 150,000 to CHF 200,000 on the occasion of the
Ordinary General Meeting of 29 April 2010.
Pursuant to Articles 3b and 3c of the Articles of Association, dated 29 April 2010, the share
capital may be increased as follows:
− The share capital may be increased by a maximum of CHF 202,512.50 through the exercise
of option rights granted to the employees and members of the Board of Directors of
Meyer Burger Technology Ltd or of group companies in accordance with a plan to be
devised by the Board of Directors. The preferential rights of the shareholders shall be
excluded. The new registered shares will be subject to the registration restrictions set forth
in Article 4 of the Articles of Association following acquisition.
− The share capital will be increased by a maximum amount of CHF 200,000 by virtue of the
exercise of conversion and/or option rights in conjunction with convertible bonds, bonds
with options or similar financial market instruments of Meyer Burger Technology Ltd or
group companies.
The preferential rights of shareholders are excluded in the event of the issuance of convertible
bonds, bonds with options or other financial market instruments which are linked to
conversion and/or option rights. Holders of conversion and/or option rights are entitled to
subscribe for the new shares. The acquisition of shares through the exercise of conversion
and/or option rights and each subsequent transfer of the shares is subject to the registration
restrictions set forth in Article 4 of the Articles of Association following acquisition.

Report FY 2010 Corporate Governance Financial Report Other Information
The Board of Directors may limit or withdraw the preferential rights of shareholders to sub­
scribe to convertible bonds, bonds with option rights or similar financial market instruments
when they are issued, if:
− the financial instruments with conversion or option rights are issued in connection with the
financing or refinancing of the acquisition of an enterprise or parts of an enterprise, participations
or new investment projects, or
− an issue by firm underwriting by a bank or consortium of banks with subsequent offering
to the public without preferential subscription rights seems to be the most appropriate
form of issue at the time, particularly in terms of the conditions or time plan of the transaction.
If preferential subscription rights are withdrawn by a decision of the Board of Directors, the
following conditions shall apply:
− conversion rights may be exercisable for up to 10 years, option rights for up to 7 years
from the date of the respective issuance; and
− the respective financial market instruments must be issued at the relevant market conditions.
As a result of the exercise of option rights, the conditional share capital in accordance with
Article 3b of the Articles of Association was reduced to CHF 181,232.35 as of 31 December
2010. The conditional share capital in accordance with Article 3c of the Articles of Association
remained unchanged as of 31 December 2010 at CHF 200,000.
Authorised share capital
In accordance with its Articles of Association, as of 1 January 2010, Meyer Burger Technology
Ltd had an authorised share capital of CHF 188,500, issuable up to 8 May 2010,
which was created by a resolution passed by the Annual General Meetings held on
29 September 2006 and 8 May 2008. In conjunction with the completion of the purchase
of the remaining 34% participation in Hennecke Systems GmbH, 540,346 registered
shares in the company were issued from the then authorised share capital on 22 April
2010. This reduced the authorised share capital to CHF 161,482.70. The continuation/
creation of authorised capital in the maximum amount of CHF 225,000, issuance of which
is possible until 29 April 2012, was resolved at the Ordinary General Meeting on 29 April
2010.
In accordance with Article 3a of the Articles of Association, dated 29 April 2010, the Board of
Directors is entitled to increase the share capital of Meyer Burger Technology Ltd by not more
than CHF 225,000 until 29 April 2012.
145

146 Meyer Burger Annual Report 2010
The Board of Directors is entitled to limit or exclude the subscription rights of the shareholders
or allocate them to third parties if the new shares are to be used for the following purposes:
− for the acquisition of enterprises, parts of enterprises, participations or new investment
projects;
− for the financing or refinancing of the acquisition of enterprises, parts of enterprises, participations
or new investment projects; or
− for a placement of shares in the capital market.
Shares for which subscription rights have been granted but not exercised should be used in
the interests of Meyer Burger Technology Ltd.
The increase may take place by means of a firm underwriting and/or in partial amounts. The
Board of Directors is entitled to set the issue price of the shares, the type of contribution and
the date of entitlement to dividends. Shares issued under these terms will be subject to the
registration restrictions set forth in Article 4 of the Articles of Association of Meyer Burger Tech­
nology Ltd.
Treasury shares
in TCHF No of shares 31.12.2010 31.12.2009
Opening balance
–
–
–
Increase through merger with 3S Industries Ltd 46 727 589 –
Decrease 1 206 15 –
Total treasury shares 45 521 574 –
Significant shareholders
Shareholder Voting rights
31.12.2009
Vontobel Fonds Services AG CH­Zurich 5.05%
Peter Pauli CH­Möhlin 3.60% 1
31.12.2009
Vontobel Fonds Services AG CH­Zurich 7.65%
Peter Pauli CH­Möhlin 5.71% 1
Eiger Investments, LLC (formerly Diamond Wire Technology, LLC) USA­Colorado Springs 3.07%
1 The voting rights reflect the participation held by registered shares, employee options and restricted shares.
Compensation, participations and loans to the members of the Board of Directors,
the Technology Advisory Board and the Executive Board (Disclosure in accordance
with Swiss Code of Obligations)
For details to the compensation, please refer to the consolidated financial statements on
page 131 of this Annual Report.
Information on the procedure of a risk assessment
For a description of the risk management, please refer to page 137 in the Notes to the consolidated
financial statements.

Report FY 2010 Corporate Governance Financial Report Other Information
Proposal by the Board of Directors for the
allocation of retained earnings
in TCHF 2010
Proposal by
the Board of
Directors
2009
Resolution by the
General Meeting
of Shareholders
For decision by the General Meeting of Shareholders
Balance carried forward from the previous year 34 293 1 715
Net profit for the period 17 637 32 578
Retained earnings 51 930 34 293
Proposal by the Board of Directors
Allocation to the capital reserves – –
Balance to be carried forward 51 930 34 293
Retained earnings 51 930 34 293
147

148 Meyer Burger Annual Report 2010
Report of the auditors

Report FY 2010 Corporate Governance Financial Report Other Information
Report of the auditors
149

150 Meyer Burger Annual Report 2010
Meyer Burger Group
Five-Year Summary
in TCHF 2010 1 2009 1 2008 1 2007 2006
Consolidated income statement
Incoming orders 1 329 828 193 748 575 541 710 500 169 717
Order backlog (as of 31 December) 1 048 535 516 367 829 832 657 900 141 365
Net sales 826 005 420 943 448 378 207 968 82 619
Gross profit 408 752 170 076 183 829 86 212 39 887
in % of net sales 49.5% 40.4% 41.0% 41.5% 48.3%
Earnings before interest, taxes, depreciation and amortization (EBITDA) 187 535 63 323 82 663 27 797 9 073
in % of net sales 22.7% 15.0% 18.4% 13.4% 11.0%
Earnings before interest and taxes (EBIT) 127 851 41 314 60 138 24 990 8 018
in % of net sales 15.5% 9.8% 13.4% 12.0% 9.7%
Earnings before taxes (EBT) 93 369 39 317 49 858 24 547 7 870
Group earnings 97 949 29 177 35 017 19 187 5 608
Consolidated balance sheet (as of 31 December)
Total assets 1 066 799 460 195 398 776 207 835 124 744
Current assets 624 564 283 745 284 651 193 821 117 353
Long­term assets 442 234 176 450 114 124 14 014 7 391
Current liabilities 372 300 178 178 205 773 130 834 70 405
Non­current liabilities 51 572 85 730 67 286 7 104 3 582
Equity 642 927 196 287 125 717 69 897 50 757
Equity ratio 60.3% 42.7% 31.5% 33.6% 40.7%
Cash flow statement
Cash flow from operating activities before changes in NWC 347 520 55 265 22 747 37 230 15 288
Cash flow from investing activities 10 147 (50 794) (57 665) (8 921) (3 658)
Investments in property, plant and equipment (16 495) (5 845) (16 165) (8 125) (2 843)
Cash flow from financing activities (53 557) 48 851 11 733 (4 411) 27 208
Employees 2
No. of employees (as of 31 December) 1 276 738 630 379 284
Net sales by employee in TCHF 716 639 849 627 351
Gross profit by employee in TCHF 355 258 348 260 156
1 Financial statements in accordance with IFRS, previous years 2006–2007 according to Swiss GAAP FER
2 Employees refers to full­time equivalent basis (FTE)

Report FY 2010 Corporate Governance Financial Report Other Information 151
Information for investors and the media
Important dates
21 March 2011: Press and Analyst Conference
SIX Swiss Exchange, Zurich
21 April 2011: Ordinary Annual General Meeting
Stade de Suisse, Berne
1 September 2011: Publication Half­Year
Results 2011, SIX Swiss Exchange, Zurich
Details to the registered shares
Swiss valor number
ISIN
Listing
SIX Ticker Symbol
Reuters
Bloomberg
Nominal value per registered share
Number of outstanding shares
Share price high/low 2010
Year end closing price 2010
Accounting standard
Auditors
Contact Address
Meyer Burger Technology Ltd
Grabenstrasse 25
CH­6340 Baar
Switzerland
Phone +41 41 761 80 00
Fax +41 41 763 08 08
Email mbtinfo@meyerburger.com
www.meyerburger.com
10850379
CH0108503795
SIX Swiss Exchange
MBTN
MBTN.S
MBTN SW
CHF 0.05
45 584 723 as of 31 December 2010
CHF 33.35/22.25
CHF 29.15
IFRS
PricewaterhouseCoopers AG
Investor Relations
Michel Hirschi
Chief Financial Officer
Phone +41 33 439 05 06
Fax +41 33 439 36 88
Email ir@meyerburger.com
Media Relations
Werner Buchholz
Head of Group Communications
Phone +41 33 439 05 06
Fax +41 33 439 36 88
Email w.buchholz@meyerburger.ch

152
Address Details
Group companies
HOLDING
Meyer Burger Technology Ltd
Grabenstrasse 25, 6340 Baar, Switzerland
Phone +41 41 761 80 00, Fax +41 41 763 08 08, Email mbtinfo@meyerburger.com, www.meyerburger.com
3S MODULTEC
3S Swiss Solar Systems Ltd
Schachenweg 24, 3250 Lyss, Switzerland
Phone +41 32 391 11 11, Fax +41 32 391 11 12, Email info@3­s.ch, www.3­s.ch
3S PHOTOVOLTAICS
3S Swiss Solar Systems Ltd
Schachenweg 24, 3250 Lyss, Switzerland, Phone +41 32 391 11 11, Fax +41 32 391 11 12,
Email info@3s­pv.ch, www.3s­pv.ch
AMB AUTOMATION
AMB Apparate + Maschinenbau GmbH
Gottlieb­Daimler­Strasse 4, 86462 Langweid, Germany
Phone +49 8230 700 99 0, Fax +49 8230 700 99 750, Email info@amb­automation.de,
www.amb­automation.de
DIAMOND WIRE
Diamond Materials Tech, Inc.
3505 N. Stone Ave., Colorado Springs, CO 80907, USA
Phone +1 719 570 1150, Fax +1 719 570 1176, Email info@dmt­inc.com, www.dmt­inc.com
HENNECKE
Hennecke Systems GmbH
Aachener Strasse 100, 53909 Zülpich, Germany
Phone +49 2252 9408 01, Fax +49 2252 9408 98, Email info@hennecke­systems.de,
www.hennecke­systems.de
MB ROBOTICS
Meyer Burger Automation GmbH
Elisabeth­Selbert­Strasse 19, 40764 Langenfeld, Germany
Phone +49 2173 3945 50, Fax +49 2173 3945 522, Email info@meyerburger.de, www.meyerburger.de
MB WAFERTEC
Meyer Burger Ltd
Allmendstrasse 86, 3600 Thun, Switzerland
Phone +41 33 439 05 05, Fax +41 33 439 05 10, Email mbinfo@meyerburger.ch, www.meyerburger.ch
Meyer Burger Machinery (Shanghai) Co. Ltd
Nanjing East Road, 200 001 Shanghai, China
Phone +86 21 636 024 55, Fax +86 21 635 047 15, Email jin.li@meyerburger.cn, www.meyerburger.com/en/
PASAN
Pasan SA
Rue Jaquet­Droz 8, 2000 Neuchâtel, Switzerland
Phone +41 32 391 16 00, Fax +41 32 391 16 99, Email info@pasan.ch, www.pasan.ch
Meyer Burger Annual Report 2010
SOMONT
Somont GmbH
Im Brunnenfeld 8, 79224 Umkirch, Germany
Phone +49 7665 9809 7000, Fax +49 7665 9809 7999, Email info@somont.com, www.somont.com

Report FY 2010 Corporate Governance Financial Report Other Information 153
Sales and Service companies
Meyer Burger Machinery (Shanghai) Co. Ltd
Nanjing East Road, 200 001 Shanghai, China
Phone +86 21 636 024 55, Fax +86 21 635 047 15; Email Sales: jin.li@meyerburger.cn,
Email Service: service@meyerburger.cn, www.mb­services.ch
MB Systems Co. Ltd
7F, Othrys B/D, 154­3, Samsung­dong, Gangnam­gu, Seoul 135­090, Korea
Phone +82 2 3454 0701, Fax +82 2 3454 0760, Email info@mbsystems.kr, www.meyerburger.com/en/
Meyer Burger Company Ltd
1F, No. 86­50, Wenhua 1st Road, Gueishan Township, Taoyuan County 333, Taiwan
Phone +886 3 396 06 36, Fax +886 3 396 06 23, Email service@meyerburger.tw, www.meyerburger.com/en/
Meyer Burger India Private Ltd
14 Commerce Avenue, Mahaganesh Colony, Paud Road, 411 038 Pune, India
Phone +91 20 2545 9531 / 32, Fax +91 20 2545 9530, Email s.raibagi@meyerburger.in, www. meyerburger.com/en/
MBT Systems Ltd
309 Route 94, 07832 Columbia, NJ, USA
Phone +1 908 496 8999, Fax +1 908 496 8998, Email sales@mbt­systems.com, www.meyerburger.com/en/
Meyer Burger S.L.
Alaba, 61 ­ Planta 6a, 08005 Barcelona, Spain
Phone +34 931 131 132, Fax +34 932 208 626, Email info@meyerburger.es, www.meyerburger.com/en/
Service companies
Meyer Burger Kabushiki Kaisha
Ishikawa Building 4F, 2­5­5 Kudan Minami, 102­0074 Chiyoda­ku, Tokyo, Japan
Phone +81 3 5211 2123, Fax +81 3 4496 4206, Email service@meyerburger.jp
MBT Systems Ltd
23562 NW Clara Ln, 97124 Hillsboro, OR, USA
Phone +1 503 645 3200, Fax +1 503 645 6707, Email spoc@mbt­systems.com
Meyer Burger Services GmbH
Albin­Schöne­Strasse 8, 04808 Wurzen, Germany
Phone +49 342 585 410 90, Fax +49 342 585 410 99, Email services@meyerburger.de,
www.meyerburger.com
MB Services AS
Tormod Gjestlandsveg 46, Bygg 239, 3908 Porsgrunn, Norway
Phone +47 35 93 40 30, Fax +47 35 93 40 33, Email services@meyerburger.ch, www.meyerburger.com
MB Services Pte. Ltd
20, Tuas South Avenue 14, 637312 Singapore, Singapore
Phone +65 6686 2170, Fax +65 6686 2173, Email service@meyerburger.sg, www.meyerburger.com

154 Meyer Burger Annual Report 2010
Declaration on Forward-Looking Statements
This Report contains statements that constitute “forward­looking statements”, relating to Meyer Burger.
Because these forward­looking 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 forward­looking statements are based only on data available to Meyer
Burger at the time of preparing this Report. Meyer Burger does not undertake any obligation to update any
forward­looking statements contained in this Report as a result of new information, future events or otherwise.
This Report is also available in German. The original German language version is binding.
The Report can also be viewed online: www.meyerburger.com
Publishing Details
Publisher: Meyer Burger Technology Ltd, Baar
Concept: Tolxdorff & Eicher Consulting, Horgen
Layout, prepress and printing: Linkgroup, Zurich
Translation: CLS Communication AG, Zurich
© Meyer Burger Technology Ltd 2011

Meyer Burger Technology Ltd
Grabenstrasse 25
CH­6340 Baar
Switzerland
mbtinfo@meyerburger.com
www.meyerburger.com