DGAP-News: SINGULUS TECHNOLOGIES AG: Turnaround Achieved in 2011 - Optimistic Outlook for 2012
(firmenpresse) - DGAP-News: SINGULUS TECHNOLOGIES AG / Key word(s): Final Results
SINGULUS TECHNOLOGIES AG: Turnaround Achieved in 2011 - Optimistic
Outlook for 2012
27.03.2012 / 07:30
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Press release
Turnaround Achieved in 2011 - Optimistic Outlook for 2012
- Forecast for the business year 2011 met
- Sales of + 33.2 % significantly above prior-year level
- Positive EBIT in the amount of EUR 6.7 million
- Order intake in 2011 considerably higher
- Optimistic outlook for 2012
- Blu-ray Disc market will continue to grow in the coming years
- Semiconductor segment gains momentum in 2012
Kahl am Main, March 27, 2012 - The SINGULUS TECHNOLOGIES AG (SINGULUS)
reports sales of 160.0 million for the business year 2011. With an increase
of 33.2 % the sales were significantly above the prior-year level (previous
year: EUR 120.1 million).
In the Optical Disc segment sales increased by EUR 15.8 million compared
with the previous year's level and totaled EUR 104.5 million as of the end
of the period under review. Within the Solar segment sales in the amount of
EUR 52.4 million were achieved. Accordingly, the sales within this segment
doubled compared with the previous year (EUR 25.5 million). In the
Semiconductor segment the company realized sales in the amount of EUR 3.1
million in the year under review (previous year: EUR 5.9 million).
The earnings before interest and taxes (EBIT) amounted to EUR 6.7 million
in the year under review (previous year: EUR -80.2 million, adjusted for
restructuring charges and impairments in the amount of EUR 53.0 million an
EBIT of EUR -27.2 million resulted for the prior-year period). This
corresponds to an improvement of the operating result by EUR 33.9 million
after adjusting for one-time effects. The earnings before interest, taxes,
depreciation and appreciation (EBITDA) amounted to EUR 18.5 million in the
business year 2011 (previous year: EUR -16.6 million, adjusted for one-off
items a total of EUR -11.0 amounted for the previous year).
At 29.7 % the gross margin in the business year 2011 increased considerably
(25.8 %). The operating expenses came to EUR 40.1 million in the business
year 2011 (previous year: EUR 110.7 million).
In the year under review the cash flow from operating activities was
positive at EUR 7.5 million. In the prior-year period the operating cash
flow was negative at EUR -0.9 million. The improvement is mainly due to the
substantially increased sales as well as the achieved cost savings. As a
result, cash and cash equivalents increased by EUR 5.5 million in the year
under review.
Successful issue of 7.75% corporate bond - EUR 60 million placed before end
of offer period
On March 12, 2012 SINGULUS successfully placed its first corporate bond.
Since the issue volume of EUR 60 million was already achieved on the first
day of the offer period due to strong demand, the subscription period was
already closed ahead of schedule on March 12. The corporate bond has an
annual coupon of 7.75 % and a term to maturity of five years. Due to the
early termination of the offer period, trading of the bond at the Open
Market of Deutsche Börse AG in the segment 'Entry Standard for Bonds' on
the Frankfurt Stock Exchange (ISIN: DE000A1MASJ4 / A1MASJ) already started
on March 14, 2012. Issue and value date is still March 23, 2012.
The net proceeds from the issue are used by SINGULUS to finance larger
projects in the Solar segment, the expansion of the system partnership with
producers of thin-film solar cells, the development of new products in the
Solar division and the development of manufacturing equipment for the next
generation of Blu-ray Discs. Furthermore, SINGULUS intends the set-up of
new business areas in the vacuum coating technology through research and
development as well as through acquisitions of companies and company
divisions.
Optimistic outlook for the year 2012
Following three years with negative earnings SINGULUS once again reported
positive earnings for the business year 2011. After a stage of
consolidation and transition, the turnaround was finally achieved in the
past year.
The company's goal is to continue to maintain the market leadership in the
Optical Disc segment for dual-layer Blu-ray Disc production equipment. In
addition, SINGULUS will position itself ever stronger in the silicon and
thin-film solar technology as a machine supplier as well as a development
partner for new cell concepts.
SINGULUS possesses proven know-how in the manufacturing of machines for the
vacuum coating of different materials. This know-how in the area of the
development of vacuum coating machines is intended to be transferred to
additional application areas by SINGULUS. The business activities in the
segment Semiconductor only serve as an example for this and will be
extensively expanded in the course of the growing market for the MRAM
semiconductor technology. In addition, the company is constantly reviewing
other sectors and work areas, where new market segments can be developed on
the basis of the present know-how in the area of vacuum coating.
The orders received in the Semiconductor and Solar segment in the first
quarter 2012 as well as project negotiations for Blu-ray production lines
show a favorable trend at the beginning of 2012.
With the two strong core work areas Optical Disc and Solar as well as the
opportunities presented by the semiconductor market and the potential
inherent in new applications of vacuum coating we are optimistic for the
year 2012.
At a Glance - Consolidated Key Figures
2010 2011
Sales in million EUR 120.1 160.0
Order intake in million EUR 128.2 151.6
Order backlog in million EUR 35.5 26.8
EBIT in million EUR -80.2 6.7
EBITDA in million EUR -16.6 18.5
Earnings before taxes in million EUR -84.9 5.6
Net profit/ loss in million EUR -77.9 5.6
Operating cash flow in million EUR -0.9 7.5
Shareholders' equity in million EUR 106.2 137.9
The Annual Report 2011 of SINGULUS TECHNOLOGIES AG can be downloaded as a
PDF file from the homepage www.singulus.de.
Contact:
SINGULUS TECHNOLOGIES AG, Hanauer Landstraße 103,
D-63796 Kahl/Main, ISIN: DE0007238909, WKN: 723890
Contact:
Maren Schuster, Investor Relations,
Tel.: + 49 (0) 6188 440 612,
Bernhard Krause, Corporate Communications,
Tel.: + 49 (0) 6181 98280 20 / +49 (0) 170 9202924
End of Corporate News
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Language: English
Company: SINGULUS TECHNOLOGIES AG
Hanauer Landstrasse 103
63796 Kahl am MainGermany
Phone: +49 (0)1709202924
Fax: +49 (0)6188 440-110
E-mail: bernhard.krause(at)go-metacom.de
Internet: www.singulus.de
ISIN: DE0007238909
WKN: 723890
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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