DGAP-News: SINGULUS TECHNOLOGIES Reports Key Financial Figures for the First Nine Months of 2012
(firmenpresse) - DGAP-News: SINGULUS TECHNOLOGIES AG / Key word(s): Quarter Results
SINGULUS TECHNOLOGIES Reports Key Financial Figures for the First Nine
Months of 2012
08.11.2012 / 07:30
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SINGULUS TECHNOLOGIES Reports Key Financial Figures for the First Nine
Months of 2012
- Negative result of the first half-year impacts 9-month and full-year
results
- Q3 positive before extraordinary charges
- Still solid balance sheet
- Liquid funds amount to EUR 65.4 million as September 30
- Positive earnings intended for the business year 2013
Kahl am Main, November 8, 2012. During the first nine months of the current
business year SINGULUS TECHNOLOGIES (SINGULUS) recorded sales of EUR 83.5
million and is thus below the level of the prior-year period in the amount
of EUR 121.8 million. The operating result EBIT (before extraordinary
expenses) amounted to - EUR 10.9 million in the first nine months (previous
year: EUR 6.3 million). Including extraordinary charges a negative EBIT in
the amount of EUR -54.2 million and an EBITDA of EUR -29.9 million
(previous year: EUR 14.7 million) was recorded for the period under review.
The order intake in the first nine months of the business year 2012
amounted to EUR 110.6 million (previous year: EUR 137.0 million). As of
September 30, 2012 the order backlog of EUR 53.9 million is slightly above
the prior-year level of EUR 50.8 million.
Sales in the 3rd quarter amounted to EUR 39.9 million (previous year: EUR
57.2 million). Including extraordinary charges totaling EUR 43.3 million
the operating result stood at negative EUR 41.8 million. Accordingly in the
quarter under review the result adjusted for extraordinary charges amounted
to EUR 1.5 million.
Due to the disappointing development of the Optical Disc division as well
as the still difficult situation on the market for equipment for the
production of solar cells, SINGULUS had to implement a couple of measures,
which had an additional negative impact on the key financial figures.
SINGULUS is gradually implementing a structural change from a pure supplier
of machines in Optical Disc to a leading provider for vacuum technology in
different segments such as Optical Disc, Solar and Semiconductor. On the
one hand, capacities have to be adjusted accordingly. On the other hand,
investments in industries of the future and expansions into new work areas
are made. Due to the business situation the Executive Board resolved
drastic measures for the segments to be structured. In the Optical Disc
segment this mainly affects the foreign subsidiaries and the product
segment Mastering. Furthermore, the work area of machines for wet-chemical
production steps at the subsidiary SINGULUS STANGL SOLAR GmbH is affected
by the decline in the market for silicon-based solar cells. Overall, in the
Solar segment structures and capacities in the wet-chemical division as
well as capitalized development expenses for traditional coating technology
are therefore further adjusted. Accordingly, at the end of the business
year 2012 the headcount at the Fürstenfeldbruck site will be reduced by
about 40 %. The impairment review of all balance sheet items resulted in
provisions, write-offs on inventories and on accounts receivable as well as
write-downs in the amount of EUR 43.3 million for the current quarter 2012
('Extraordinary charges'). The majority of these balance sheet adjustments
do not result in additional cash outflows.
Dr.-Ing. Stefan Rinck, CEO SINGULUS TECHNOLOGIES AG: 'SINGULUS has good
liquid funds and will use the funds in the coming years for internal and
external growth.'
Overall, the liquid funds increased by EUR 47.6 million in the first nine
months and amount to EUR 65.4 million as of September 30, 2012. The balance
sheet continues to remain stable and is still very solid with an equity
ratio of approximately 40 %.
The described measures will lead to an overall negative result including
extraordinary charges in a range from EUR -54.0 to -56.0 million for 2012.
Outlook
SINGULUS TECHNOLOGIES solidly financed for the future - good prospects for
breaking-even in Optical Disc, Solar and Semiconductor - growth through new
business areas
In the business year 2011 SINGULUS completely repaid its liability owed to
banks. Except for a loan from the KfW in the amount of EUR 4.8 million
there are currently no more bank liabilities.
With the proceeds from the issue SINGULUS TECHNOLOGIES is able 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.
To strengthen SINGULUS' existing business segments the Executive Board has
elaborated a detailed portfolio strategy and is currently reviewing several
concrete acquisition opportunities. It goes without saying that the
Executive Board is analyzing the potential targets with the required
diligence.
The trends in the individual segments are projected as follows:
OPTICAL DISC
Since the market for Blu-ray Disc continues to grow at double-digit rates
in 2012, we expect stable sales and earnings contributions again.
SOLAR
In the thin-film technology CIGS/CIS SINGULUS is excellently positioned.
Larger investment projects have already been announced for 2013. If they
are realized according to plan, SINGULUS will surely succeed in delivering
a significant number of machines.
In a difficult market, crystalline solar cells we see us very well
positioned technologically due to the good development efforts in the past
years. The upgrade business in the area of crystalline solar cells to the
PERC standard promises new demand for this specialized production equipment
in 2013.
Semiconductor
The Semiconductor division will make positive earnings contributions this
year. The potential of the various application areas for the machines
suggests a further uptrend in the coming business years.
SINGULUS' Executive Board sees a good chance for the existing segments
Optical Disc, Solar and Semiconductor to generate positive earnings in the
next year again.
Consolidated key figures SINGULUS pursuant to IFRS (unaudited)
9-month figures 2011 2012
Sales (gross) in million EUR 121,8 83,5
Order intake in million EUR 137,0 110.6
Order backlog (Sept. 30) in million EUR 50,8 53,9
EBIT in million EUR 6,3 -54,2
EBITDA in million EUR 14,7 -29,9
Earnings before taxes in million EUR 4,9 -56,6
Net profit/loss in million EUR 3,7 -53,8
Employees (Sept. 30) 465 420
Earnings per share, basic EUR 0,09 -1,1
3rd quarter 2011 2012
Sales (gross) in million EUR 57,2 39,9
Order intake in million EUR 22,0 23,6
EBIT in million EUR 6,5 -41,8
EBITDA in million EUR 9,3 -23,5
Earnings before taxes in million EUR 6,5-42,7
Net profit/loss in million EUR 6,4 -41,5
Expenses research&development in million EUR 1,5 2,4
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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192107 08.11.2012
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