Corporate | 24 March 2016 08:41
SINGULUS TECHNOLOGIES Reports Consolidated Annual Results for 2015
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DGAP-News: SINGULUS TECHNOLOGIES AG / Key word(s): Final Results
Press Release SINGULUS TECHNOLOGIES Reports Consolidated Annual Results for 2015 – Sales in 2015 at EUR 83.7 million – Earnings before interest and taxes at EUR -34.5 million – Order intake amounts to EUR 96.3 million – Sales forecast for 2016 between EUR 115 and 130 million – Implementation of the approved restructuring Kahl am Main, March 24, 2016 – The SINGULUS TECHNOLOGIES AG reports sales of 83.7 million for the business year 2015 (previous year: EUR 66.8 million). This corresponds to a rise in sales of 25.3 % compared with the level achieved in 2014. The increase mainly results from higher sales from two major orders in the Solar division. In the Optical Disc and Semiconductor divisions sales declined. The order intake came to EUR 96.3 million overall in the year under review (previous year: EUR 60.6 million), which was above the previous year’s level once again. In particular orders in the Solar segment at the beginning of the business year 2015 led to a rise in a year-over-year comparison. The order backlog as of December 31, 2015 remained at EUR 26.6 million (previous year: EUR 14.0 million). The earnings before interest and taxes (EBIT) amounted to EUR -34.5 million (previous year: EUR -49.1 million). Excluding the write-offs and restructuring charges an EBIT in the amount of EUR -18.2 million (previous year: EUR -27.8 million) was realized. The financial result was negative at EUR -8.8 million (previous year: EUR -2.6 million). The net result in the business year 2015 amounted to EUR -43.4 million (previous year: EUR -51.6 million). Excluding the write-off and restructuring charges an adjusted net result in the amount of EUR -27.1 million (previous year: EUR -30.3 million) was realized. The write-off and restructuring charges mainly include the revaluation of the business activities in the Optical Disc segment (EUR 9.2 million). In this connection, in particular expenses reflected the adjustments of inventories. Furthermore, legal and advisory expenses in connection with the restructuring of the bond as well as expenses in connection with the extraordinary write-offs of capitalized development expenses were incurred. The Group had liquidity in the amount of EUR 19.0 million as of December 31, 2015.
Economic development and financial restructuring
On February 15, 2016, in the course of the bondholder meeting the bondholders of the corporate bond and on February 16, 2016 the shareholders in the course of an extraordinary general meeting approved the proposals of the company’s Boards with more than 90 % of the respective votes present. The competent District Court received an action in recession against the resolutions of the noteholder meeting. Furthermore the competent District Court Nürnberg received an action in recession against the resolutions of the extraordinary general meeting. However, the company is confident that these legal actions will be dismissed through a release process and that the implementation of the restructuring concept will commence afterwards.
Outlook for the Business Year 2016
The forecast for the full-year targets for 2016 is mainly based on the assumptions that the Solar market will continue to perform favourably, the extensive orders for production machines for thin-film solar modules in discussion are realized and that additional orders in the area of wet-chemical machines are received during the first half of the business year 2016. Key financial figures 2015/2014
For all machines, processes and applications SINGULUS TECHNOLOGIES utilizes its know-how in the areas of automation and process technology in order to develop additional, attractive work areas with innovative products next to the existing application areas of Solar, Semiconductors and Optical Disc.
Contact:
2016-03-24 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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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@singulus.de | |
| Internet: | www.singulus.de | |
| ISIN: | DE0007238909, DE000A1MASJ4 | |
| WKN: | 723890, A1MASJ | |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart | |
| End of News | DGAP News Service |