Corporate | 5 November 2008 07:30
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: Order Intake and Order Backlog in the First Nine Months 2008 Exceeds Prior-Year Level - Cumulated order intake 2008 at € 197.5 million - Order backlog increased to € 103.4 million (+31 %) - Sales of € 68.6 million in the 3rd quarter 2008 - Gross margin exceeding 30 % in the 3rd quarter - Order intake Solar significantly above prior-year level Kahl am Main, November 5, 2008 Key financial figures of the SINGULUS TECHNOLOGIES Group (SINGULUS), the order intake and order backlog, were higher in the first nine months compared with the levels achieved in the prior-year period. As of September 30, 2008 a cumulated order intake in the amount of € 197.5 million (previous year: €167.2 million) was achieved. Accordingly, the order intake is almost at the level of € 203.8 million achieved in the full business year 2007. Due to weak CD, DVD and semi-conductor activities the order intake in the 3rd quarter came to € 42.2 million, which was below the prior-year level (€ 59.1 million). The order backlog as of September 30, 2008 rose by around 31 % to € 103.4 million (previous year:€ 78.9 million). Sales came to € 68.6 million in the 3rd quarter 2008 and thus exceeded the prior-year amount of € 58.0 million as well as the respective sales in the first two quarters of the current business year. SINGULUS reached cumulated sales in the amount of € 149.9 million during the first nine months of 2008 (previous year: € 170.2 million). The earnings before interest and taxes (EBIT) before the consideration of restructuring charges in the first nine months of 2008 were positive at € 3.9 million (previous year: € 0.8 million). Taking into account the extraordinary items a negative EBIT in the amount of € 40.7 million results. In the quarter under review the EBIT before restructuring charges amounted to € 2.2 million. Including the extraordinary expenses as of September 17, 2008 SINGULUS posted a negative EBIT totaling € 39.0 million in the 3rd quarter. The gross margin in the 3rd quarter stood at 31.6 %, considerably above the level of the prior-year period (27.0 %). This increase is mainly due to the comparably high share of sales of the activities with Blu-ray replication machines in the quarter under review. SINGULUS focuses on Solar and Optical Disc The Executive Board of the SINGULUS TECHNOLOGIES AG in agreement with the Supervisory Board decided on September 17, 2008 to focus the company on the segments Optical Disc and Solar in the future. In this connection, a portfolio optimization was also resolved as well as an adjustment of the balance sheet to the new economic and technologic conditions. The new positioning of SINGULUS results in one-time write-offs in the amount of € 41.2 million, which are not liquidity related. With this step the accounting base for a healthy development in the next years is formed. For example, these write-offs already result in cost relieves of € 15.8 million in total in the years 2009 to 2011. Outlook and strategy In the segment Optical Disc the global market leadership for Blu-ray Disc production machines is in the spotlight. The favorable trend in the Solar segment is driven by two factors: STANGL continues to experience very strong growth in the wet-chemical segment - SINGULUS is marketing the newly-developed solar coating machine SINGULAR since September 2008 and sees growth potential for the coming years. SINGULUS expects consolidated sales in the business year 2008 in a range from € 210 million to € 230 million. The agreed portfolio optimization in connection with the clear focus on the two growth areas Blu-ray and Solar will result in a significant improvement of the financial figures for both sales and earnings in the coming years. Consolidated key figures 3rd quarters 2006-2008 pursuant to IFRSIn million € 2006 2007 2008 Sales 96.6 58.0 68.6 Order intake 78.1 59.1 42.2 EBIT 2.6 0.1 -39.0 EBT 2.4 -0.1 -39.2 Net profit 0.8 0.3 -36.3Consolidated key figures (nine months cumulated) 2006-2008 pursuant to IFRS)In million € 2006 2007 2008 Sales 213.1 170.2 149.9 Order intake 272.4 167.6 197.5 Order backlog (Sept. 30) 120.2 78.9 103.4 EBIT 7.9 0.8 -40.7 EBT 8.3 1.2 -44.2 Net profit 8.1 1.2 -39.5 Employees (Sept. 30) 1,182 762 764 Earnings per share 0.23 0.00 -1.11Short profile SINGULUS SINGULUS TECHNOLOGIES is the global market leader for optical disc production lines for CDs, DVDs and Blu-ray Discs and the only provider to offer the entire product range: mastering, molding and replication lines. In addition to the further expansion of the core activities Optical Disc, the diversification into the work area Solar is the most important strategic goal. STANGL and SINGULUS will systematically expand the Solar activities. As of today, STANGL is one of the few providers of wet-chemical machines for both the crystalline silicon solar technology as well as for the thin-film solar technology. SINGULUS has been marketing its own solar coating machine, which is based on the know-how gained in the core area of Optical Disc, since September. In addition, STANGL’s experience and market knowledge will be tapped. In March 2008, SINGULUS TECHNOLOGIES teamed up with Q-Cells, the global leader of solar cell production, for the development of this new machine and won the company as a key customer. Combined with STANGL’s machines, SINGULUS TECHNOLOGIES will then be able to offer the 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 98280 20 or + 49 (0) 170 920 29 24 05.11.2008 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 ---------------------------------------------------------------------------