Singulus Technologies announced preliminary financial results for its full 2012 business year.
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Unedited press release follows:
SINGULUS TECHNOLOGIES Reports Preliminary Results for the Business Year 2012
• Sales in-line with expectations
• Earnings weaker than projected
• Order backlog improved to € 40.1 million
• Leading technologies in all three business segments
Kahl am Main, February 26, 2013 – SINGULUS TECHNOLOGIES (SINGULUS) confirms the forecast released on November 8, 2012 with sales of 108.6 million for the past business year 2012. According to preliminary results the total earnings including extraordinary charges amounted to minus € 60.5 million. The order intake in the fiscal year 2012 amounted to € 121.9 million (previous year: € 151.6 million). The order backlog in the amount of € 40.1 million has improved compared with the prior-year level of € 26.8 million.
SINGULUS has a high liquidity position and in the business year 2011 already completely repaid its borrowings owed to banks. The balance sheet remains stable and is still solid with an equity ratio of approximately 37 %.
For SINGULUS TECHNOLOGIES to once again develop favorably, the core segments will be further stabilized economically. Dr.-Ing. Stefan Rinck, Chief Executive Officer of the SINGULUS TECHNOLOGIES AG, comments: “We are leading with our machines in our three core segments Optical Disc, Semiconductor and Solar. We expect that overall we will be able to grow in these segments in 2013 and to achieve positive earnings for the full-year.
Dr. Rinck adds: “However, if the current investment restraint for production equipment in the solar market continues, this will have corresponding impacts on the earnings targets of the company. To strengthen the existing business activities, we continue to focus on developing innovative products, which opens new markets.”