Corporate | 27 March 2012 07:30
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SINGULUS TECHNOLOGIES AG / Key word(s): Final Results
Press release Turnaround Achieved in 2011 – Optimistic Outlook for 2012 – Forecast for the business year 2011 met – Sales of + 33.2 % significantly above prior-year level – Positive EBIT in the amount of EUR 6.7 million – Order intake in 2011 considerably higher – Optimistic outlook for 2012 – Blu-ray Disc market will continue to grow in the coming years – Semiconductor segment gains momentum in 2012 Kahl am Main, March 27, 2012 – The SINGULUS TECHNOLOGIES AG (SINGULUS) reports sales of 160.0 million for the business year 2011. With an increase of 33.2 % the sales were significantly above the prior-year level (previous year: EUR 120.1 million). In the Optical Disc segment sales increased by EUR 15.8 million compared with the previous year's level and totaled EUR 104.5 million as of the end of the period under review. Within the Solar segment sales in the amount of EUR 52.4 million were achieved. Accordingly, the sales within this segment doubled compared with the previous year (EUR 25.5 million). In the Semiconductor segment the company realized sales in the amount of EUR 3.1 million in the year under review (previous year: EUR 5.9 million). The earnings before interest and taxes (EBIT) amounted to EUR 6.7 million in the year under review (previous year: EUR -80.2 million, adjusted for restructuring charges and impairments in the amount of EUR 53.0 million an EBIT of EUR -27.2 million resulted for the prior-year period). This corresponds to an improvement of the operating result by EUR 33.9 million after adjusting for one-time effects. The earnings before interest, taxes, depreciation and appreciation (EBITDA) amounted to EUR 18.5 million in the business year 2011 (previous year: EUR -16.6 million, adjusted for one-off items a total of EUR -11.0 amounted for the previous year). At 29.7 % the gross margin in the business year 2011 increased considerably (25.8 %). The operating expenses came to EUR 40.1 million in the business year 2011 (previous year: EUR 110.7 million). In the year under review the cash flow from operating activities was positive at EUR 7.5 million. In the prior-year period the operating cash flow was negative at EUR -0.9 million. The improvement is mainly due to the substantially increased sales as well as the achieved cost savings. As a result, cash and cash equivalents increased by EUR 5.5 million in the year under review.
Successful issue of 7.75% corporate bond – EUR 60 million placed before end of offer period
The net proceeds from the issue are used by SINGULUS 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. Furthermore, SINGULUS intends the set-up of new business areas in the vacuum coating technology through research and development as well as through acquisitions of companies and company divisions.
Optimistic outlook for the year 2012
The company's goal is to continue to maintain the market leadership in the Optical Disc segment for dual-layer Blu-ray Disc production equipment. In addition, SINGULUS will position itself ever stronger in the silicon and thin-film solar technology as a machine supplier as well as a development partner for new cell concepts.
SINGULUS possesses proven know-how in the manufacturing of machines for the vacuum coating of different materials. This know-how in the area of the development of vacuum coating machines is intended to be transferred to additional application areas by SINGULUS. The business activities in the segment Semiconductor only serve as an example for this and will be extensively expanded in the course of the growing market for the MRAM semiconductor technology. In addition, the company is constantly reviewing other sectors and work areas, where new market segments can be developed on the basis of the present know-how in the area of vacuum coating.
With the two strong core work areas Optical Disc and Solar as well as the opportunities presented by the semiconductor market and the potential inherent in new applications of vacuum coating we are optimistic for the year 2012. At a Glance – Consolidated Key Figures
The Annual Report 2011 of SINGULUS TECHNOLOGIES AG can be downloaded as a PDF file from the homepage www.singulus.de .
End of Corporate News 27.03.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| 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 | |
| End of News | DGAP News-Service |
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