Corporate | 10 August 2011 07:30


SINGULUS TECHNOLOGIES AG: SINGULUS TECHNOLOGIES Reports Results for the 1st Half of 2011


SINGULUS TECHNOLOGIES AG / Key word(s): Half Year Results

10.08.2011 / 07:30

Presse Release

SINGULUS TECHNOLOGIES Reports Results for the 1 st Half of 2011

* Sales for the 1 st half of 2011 above prior-year level (+31.0 %)
* New order intake rises 70.6 % to EUR 115.0 million (1 st half 2010: EUR 67.4 million)
* Positive EBIT in the 2 nd quarter
* Order backlog increases to EUR 85.9 million
* Full-year forecast of 33 % sales increase compared with 2010 and positive earnings reaffirmed

Kahl am Main, August 10, 2011. The order intake of the SINGULUS TECHNOLOGIES Group (SINGULUS) has significantly increased in the 1 st half of the business year 2011. A total order intake of EUR 115.0  million (previous year: EUR 67.4 million) has been recognized. This corresponds to an increase of 70.6 % compared with the same period one year ago. Furthermore, the order intake in the 2 nd quarter was substantially higher than in the prior-year quarter in 2010. The order backlog as of June 30, 2011 amounted to EUR 85.9 million, nearly twice the level of last year (previous year: EUR 45.5 million).

Sales in the first six months in 2011 came to EUR 64.6 million, substantially higher than the prior-year level of EUR 49.3 million. This corresponds to a percental increase of around 31.0 %. In the 2 nd quarter sales amounted to EUR 44.8 million (previous year: EUR 27.8 million). In the 1 st half-year 2011 earnings before interest and taxes (EBIT) were within expectations and amounted to EUR -0.2 million (previous year: EUR -8.0 million). In the quarter under review a positive EBIT of EUR 2.3 million was realized (previous year: EUR -2.5 million).

In the 1 st half of 2011 the operating cash flow of the Group of EUR 7.5 million was positive and thus substantially higher than the prior-year level (previous year: EUR -11.6 million). In the 1 st half of 2011 bank loans in the amount of EUR 17.8 million were reduced, in contrast the company received EUR 25.2 million from the capital increase.

The number of employees in the SINGULUS Group declined slightly from 470 employees as of June 30, 2010 to 463 employees as of June 30, 2011. During the period under review 463 employees were employed on average in the group of companies (previous year: 506 employees).

Optical Disc-Segment with Blu-ray significantly above previous year
SINGULUS was able to realize the sales of a larger number of BLULINE II machines in the first half of the year. Long-time customers have continued to invest substantially in the production of Blu-ray discs. Accordingly, SINGULUS' positive growth expectations for the Blu-ray disc market are confirmed.

Business trends and market development Solar
Overall the solar market exhibits a slow-down in growth particularly for silicon solar cells due to the decline in demand in Europe and the resulting excess capacities. In general, a market recovery is currently expected from 2012 onwards. Projects for thin-film solar technology have a longer development and planning period and are less affected by this slow-down.

SINGULUS is still in negotiations regarding major projects for the areas silicon and thin-film solar technology. However, up to date they have not been concluded.

However, up to now several successful contracts and cooperation agreements have been concluded this year in addition to the major order in the 1 st quarter. SINGULUS is establishing itself as a partner for the photovoltaics industry for the development of new, highly-efficient cell concepts and new production processes, which enable a significant increase in performance as well as cost reductions.

Outlook
The Executive Board confirms its sales forecast of more than EUR 160 million published on May 26, 2011. Following three years with negative earnings, the company is expected to post a positive result for the full-year 2011.
SINGULUS TECHNOLOGIES relies on its two core business areas and a lean business model. For Optical Disc SINGULUS is market leader in the growth segment Blu-ray. Despite a short-term cooling, the activities in the Solar division will continue to have a positive impact on the business development of the company in the long-term. Accordingly, SINGULUS TECHNOLOGIES is very well positioned for the future.

SINGULUS Key Figures (IFRS unaudited)

1 st Half 2010 2011
Revenue (gross) in million EUR 49.3 64 . 6
Order intake in million EUR 67.4 115 . 0
Order backlog (June 30) in million EUR 45.5 85 . 9
EBIT in million EUR -8.0 -0 . 2
EBITDA in million EUR 0.9 5 . 4
Earnings before taxes in million EUR -10.2 -1 . 6
Profit/loss for the period in million EUR -7.9 -2 . 7
Employees (June 30) 470 463
Earnings per share, basic EUR -0.20 -0 . 06

2 nd Quarter 2010 2011
Revenue (gross) in million EUR 27.8 44 . 8
Order intake in million EUR 27.6 49 . 1
EBIT in million EUR -2.5 2 . 3
EBITDA in million EUR 1.9 5 . 2
Earnings before taxes in million EUR -3.5 1 . 5
Profit/loss for the period in million EUR -2.2 1 . 1
Research & development expenditures in million EUR 2.1 2 . 3
Earnings per share, basic EUR -0.05 0 . 03

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



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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@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
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