DGAP-News: SINGULUS TECHNOLOGIES Reports Results for the 1st Half of 2012
(firmenpresse) - DGAP-News: SINGULUS TECHNOLOGIES AG / Key word(s): Half Year
Results/Quarter Results
SINGULUS TECHNOLOGIES Reports Results for the 1st Half of 2012
14.08.2012 / 07:30
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- Semiconductor segment above forecasts, Solar segment in line with
expectations, delays for orders in the Optical Disc segment
- External growth in the spotlight
- Key figures for the 1st half 2012 below prior-year levels
- Positive full-year earnings still goal but challenging
Kahl am Main, August 14, 2012 - SINGULUS TECHNOLOGIES AG's (SINGULUS) key
financial figures in the 1st half of 2012 were heavily impacted by the
mixed trends in the various segments. Currently, the sustained delays in
the order intake in the Optical Disc division for production machines of
the BLULINE II type are having an impact on the key figures. The Solar
division is in line with expectations. The Semiconductor segment has
developed very favorably. So far, six machines with an order volume of more
than EUR 20 million have been sold in 2012.
In the 1st half of the business year 2012 an order intake of EUR 87.0
million (previous year: EUR 115.0 million) was achieved. In particular the
order intake in the 2nd quarter was below the level achieved in the same
period one year ago due to delays in orders received for Blu-ray production
machines. As of June 30, 2012 the order backlog accordingly stood at EUR
70.2 million, which is below the EUR 85.9 million achieved in the
prior-year period. In the first six months of the year 2012 SINGULUS
realized sales of EUR 43.6 million (previous year: EUR 64.6 million),
thereof EUR 27.6 million in the 2nd quarter (previous year: EUR 44.8
million).
In the 1st half of 2012 earnings before interest and taxes (EBIT) stood at
EUR -12.4 million (previous year: EUR -0.2 million). In the quarter under
review the EBIT was also negative and came to EUR -6.7 million (previous
year: EUR 2.3 million). The EBIT of the 1st half of 2012 includes
extraordinary expenses in the amount of EUR 2.6 million. These mainly
concern burdens from the legal challenge in connection with the merger of
the HamaTech AG as well as losses from foreign exchange translations. The
prior-year period positive included one-off effects in the amount of EUR
2.4 million as other operating income. The EBIT in the 1st half of 2012
adjusted for these one-off effects amounted to EUR -9.8 million compared
with EUR -2.6 million in the same period one year ago.
Optical Disc segment
The media market still displays strong seasonality and is therefore
generally always quieter in the 1st half of the year. The orders for
Blu-ray production machines in the current business year were partly
postponed from the usual order months to late summer, which is due to the
changed planning of the big Hollywood studios in the US, amongst others.
'For 2012, Futuresource projects a growth rate around 35 % for the number
of produced Blu-ray Discs with movie content. Accordingly, Blu-ray will
continue to establish itself as the format of the future', comments Dr.
Stefan Rinck, CEO of the SINGULUS TECHNOLOGIES AG.
SINGULUS expects to receive additional orders for BLULINE II machines in
the next couple of weeks, which will still make positive sales and earnings
contributions in the current business year.
Together with the sales share from the service activities we expectSINGULUS to deliver good earnings contributions here in the next couple of
years.
Solar segment
Despite the difficult market environment SINGULUS was able to achieve some
important success in the past couple of months. However, overall the solar
market is characterized by substantial uncertainties due to excess
capacities. Nevertheless, due to political reasons numerous developing
countries are also considering to become independent of international
influences in terms of the energy supply. In particular renewable energies,
and here photovoltaics, are at the forefront. The value-added is intended
to remain in the developing countries.
SINGULUS is adapting the Solar segment to the current market conditions. On
the one hand, this includes cost reductions which will have a positive
impact in the 2nd half of the year and the following business year. On the
other hand, select key technologies are further developed, such as for
example the coating of cell rear panels, wet-chemical processes for new
crystalline high-performance cells as well as new coating equipment for
CIGS thin-film modules. Despite the difficult market environment SINGULUS
sees opportunities to successfully acquire new photovoltaic projects and to
receive corresponding orders in the 2nd half of 2012 and in the business
year 2013. With these orders SINGULUS positions itself as a powerful
technology supplier for the upcoming investment cycle in the photovoltaics
sector.
Semiconductor segment
Currently, SINGULUS has seven TIMARIS vacuum coating systems in the order
backlog. For the business year 2012, the order intake amounts to a total
exceeding EUR 20 million. Correspondingly, more machines were sold in the
first half of 2012 than in the previous three business years together.
The projections for this segment for the current year 2012 are
significantly exceeded. SINGULUS is now expecting positive segmental
earnings in the current business year following a negative result in the
previous business year. Due to the inquiries from potential customers and
the promising talks about concrete projects the company is expecting
additional conclusions of contracts in the coming months.
SINGULUS is the leading supplier for vacuum coating machines for MRAM
wafer, write/read heads and other semiconductor applications. In particular
for the upcoming industrial manufacturing of MRAM wafers, we are
excellently positioned with our machines.
Outlook
To strengthen SINGULUS' existing business activities the Executive Board
elaborated a detailed portfolio strategy and is currently reviewing
concrete acquisition opportunities, which can be integrated into the
existing segment and present core competencies.
The next couple of weeks provide the possibility for us to receive
additional orders, which can still make a positive earnings contribution in
the business year 2012. Against the background of the Euro-crisis and the
uncertain global economy we regard it increasingly more challenging to
achieve our expressed expectation of positive full-year results, however.
Consolidated key figures SINGULUS pursuant to IFRS (unaudited)
1st Half Year 2011 2012
Sales (gross) in million EUR 64.6 43.6
Order intake in million EUR 115.0 87
Order backlog (June 30) in million EUR 85.9 70.2
EBIT in million EUR -0.2 -12.4
EBITDA in million EUR 5.4 -6.4
Earnings before taxes in million EUR -1.6 -13.9
Net profit/loss in million EUR -2.7 -12.3
Employees (June 30) 463 444
Earnings per share, basic EUR -0.06 -0.25
2nd Quarter 2011 2012
Sales (gross) in million EUR 44.8 27.6
Order intake in million EUR 49.1 31.3
EBIT in million EUR 2.3 -6.7
EBITDA in million EUR 5.1 -3.7
Earnings before taxes in million EUR 1.5 -8.1
Net profit/loss in million EUR 1.1 -7.6
Expenses research&development in million EUR 2.3 2.1
Earnings per share, basic EUR 0.03 -0.15
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 Main
Germany
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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181499 14.08.2012
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