Corporate | 5 August 2008 07:45
SINGULUS TECHNOLOGIES AG / Quarter Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Press Release SINGULUS TECHNOLOGIES Posts Significantly Higher Order Intake Compared with Previous Year and Expects Strong Sales for the Second Half of 2008 - Order intake + 47 %, order backlog + 67 % compared with previous year - Sales + 68 % compared with previous quarter, EBIT slightly negative - Further optimization of cost structure initiated - Positive outlook for Blu-ray and Solar Kahl am Main, August 5, 2008 - The key figures for order intake and order backlog at SINGULUS TECHNOLOGIES (SINGULUS) in the 2nd quarter 2008 were also significantly higher than prior-year figures. Accordingly, an order intake of € 70.8 million (previous year € 48.1 million) was achieved in the quarter under review. Therefore, the order intake rose by 47.2 % compared with the same quarter one year ago. As of June 30, 2008 the order backlog rose about 67 % to € 129.7 million (previous year: € 77.7 million). The high order intake in the first half of the year reflects the interest in the new Blu-ray technology as well as in our solar equipment. Sales in the 2nd quarter increased by 68 % compared with the previous quarter. However, at € 51.0 million they were below the € 62.5 million reported in the 2nd quarter 2007. Since the orders for the high-margin products from the Blu-ray and Solar segment in the first half of the year will only be recorded as sales in the following quarters, an EBIT of only € -2.0 million could be achieved in the quarter under review (previous year: € 0.5 million). In particular, the weak semi-conductor activities at HamaTech and the segment coating weighed on the results in the 2nd quarter. The gross margin in the 2nd quarter stood at 27.1 % and thus remained at the level of the prior-year period (27.0 %). At € 8.3 million, in the 1st half of 2008 the expenses for R&D declined significantly by -20.2 % compared with the previous year (€ 10.4 million). A further review of the work processes and our cost situation had induced SINGULUS in the meantime to also relocate the assembly of the MoldPro injection molding machines to Kahl am Main. One of the reasons for this step was the fact that the commissioning of Dual Layer Blu-ray Disc machines in Kahl requires a fine tuning of the injection molding machine with the rest of the line. Approximately 50 employees are affected by the closure of the SINGULUS MOLDING AG in Schaffhausen. Outlook and strategy SINGULUS will even stronger focus on the two core work areas Optical Disc and Solar. In the segment Optical Disc the global market leadership for activities with Blu-ray production machines as well as the rapid market launch of the new inline mastering system for Blu-ray is clearly in the focus. For the segment Solar SINGULUS has made the decision for a fast further development. STANGL continues to grow at double-digit rates and will have sufficient capacity for a planned expansion after the completion of the new production areas. SINGULUS works extensively on the development of the new solar coating machine and will unveil its coating technology for silicon solar cells in 2008. SINGULUS expects consolidated sales in a range from € 210 million to € 230 million for the fiscal 2008. With respect to the order intake we project an increase compared with the business year 2007. The sales and earnings situation in the 1st half of 2008 was still characterized by the weak order backlog at the end of 2007. In this respect, the sales so far reflect the weakness in the previous year, but not the favorable order intake, which we have been experiencing since the beginning of 2008. This will mainly be reflected by the sales from the 3rd quarter onwards. The new products in our Blu-ray and Solar portfolio will substantially gain importance in our Group in the next couple of years and considerably impact the favorable trend at SINGULUS. Consolidated key figures 2nd quarters 2006-2008 pursuant to IFRS2006 2007 2008 Sales million € 67.6 62.5 51.0 Order intake million € 86.8 48.1 70.8 EBIT million € -1.8 0.5 -2.0 EBITDA million € 3.8 5.9 4.6 Earnings before taxes million € -1.4 0.7 -3.9 Net profit million € -2.4 0.1 -3.2 Research & development million € 7.5 5.6 7.4Consolidated key figures 1st half 2006-2008 pursuant to IFRS2006 2007 2008 Sales million € 116.5 112.3 81.3 Order intake million € 194.3 108.5 155.2 Order backlog (June 30) million € 138.7 77.7 129.7 EBIT million € 5.2 0.7 -1.7 EBITDA million € 22.6 10.8 14.5 Earnings before taxes million € 5.9 1.3 -5.1 Net profit million € 7.3 0.9 -3.2 Employees (June 30) 1,154 674 758 Earnings per share, basic € 0.21 0.01 -0.09Short profile SINGULUS TECHNOLOGIES SINGULUS TECHNOLOGIES is the world market leader for optical disc production lines for CDs, DVDs and Blu-ray Discs, and the only manufacturer to offer the full product range: mastering, molding and replication lines. In addition to the further development of optical disc core business, diversification into the new area of solar is its principal strategic goal. STANGL and SINGULUS will systematically expand their solar activities. STANGL is currently one of the few suppliers of wet-chemical machines for both crystalline silicon solar technology and thin-film solar technology, with growth rates in excess of 40 %. SINGULUS is set to unveil its own solar coating machine in 2008, based on its wealth of experience in the core area of optical discs. It will be able to tap into STANGL's experience and market knowledge for this move. In March 2008 SINGULUS TECHNOLOGIES teamed up with Q-Cells, the most important solar cell producer worldwide, for the development of this new machine and won the company as a key customer. Together with the equipment made by STANGL, SINGULUS TECHNOLOGIES will then be able to offer two important machine groups with wet-chemical and vacuum coating processes for a production line for crystalline silicon solar cells. The goal is to strengthen its global position for production equipment for crystalline solar cells over the next few years. SINGULUS TECHNOLOGIES AG, Hanauer Landstraße 103, D-63796 Kahl/Main, ISIN: DE0007238909, WKN: 723890 For further information please contact: Bernhard Krause, Corporate Communications Tel.: + 49 (0) 6181-9828020 / Mobile: + 49 (0) 170 920 29 24 05.08.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: SINGULUS TECHNOLOGIES AG Hanauer Landstrasse 103 63796 Kahl am Main Deutschland Phone: +49 (0)6188 440-105 Fax: +49 (0)6188 440-110 E-mail: bernhard.krause@go-metacom.de Internet: www.singulus.de ISIN: DE0007238909 WKN: 723890 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------