Singulus Technologies Group announced preliminary financial figures for 2010.
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Unedited press release follows:
SINGULUS TECHNOLOGIES AG announces preliminary figures for 2010
February 03, 2011
* Revenue slightly up on previous year
* Key figures for year influenced by restructuring and balance sheet adjustments
* Orders received around 56 % up on previous year
* Cost base improving
* Substantial rise in Blu-ray sales
* Solar area gaining momentum
Kahl am Main, February 03, 2011 – According to preliminary figures the SINGULUS TECHNOLOGIES Group (SINGULUS) achieved revenue of approx. € 118.5 million (2009: € 116.6 million), in the financial year 2010, which lies within the range of its own forecast. Despite the disposal of Hamatech APE in January 2010 and the resulting deconsolidation, revenue for the group is up on the previous year. Earnings before interest and taxes (EBIT) for 2010 are negatively affected by the expenditure for balance sheet adjustments announced in October. Orders received for the financial year 2010 reached € 127.2 million well up on the figure for the previous year (€ 81.1 million). The volume of orders in hand at December 31, 2010 of € 35.9 million was slightly up on the prior-year figure.
Although the consequences of the global economic crisis continued to have a marked impact in 2010, SINGULUS TECHNOLGIES is able to report a welcome rise in project business in the two segments Optical Disc and Solar.
In the Optical Disc segment, SINGULUS TECHNOLOGIES is the only company in the world supplying the entire product range of Blu-ray systems, and expects to see strong growth for Blu-ray over the next few years. Excellent products with strong USPs form the basis for a profitable Optical Disc segment.
In the Solar segment, SINGULUS production technology for crystalline and thin-film solar cells will gain further ground. Negotiations are under way on numerous projects for both individual machines and complete systems, and in many cases are nearing their conclusion. The Management Board is confident that it will be able to expand its business activities in the solar segment as planned, so that this area becomes a regular source of profit for the group. It is the declared aim of the company to see further grow in the Solar segment and reach break-even in 2011.
SINGULUS TECHNOLOGIES is convinced that its two core business area and lean business model is the key to future success. In the Optical Disc segment, SINGULUS is the market leader; meanwhile business for the solar segment will provide a clear, positive stimulus for the company’s progress. The underlying economic situation has developed positively and is conducive to a good business performance.
SINGULUS TECHNOLOGIES is excellently equipped for the future and has every prospect of returning to a phase of clear profitability. The Management Board expects SINGULUS TECHNOLOGIES to achieve the targets it has set itself for 2011.
SINGULUS will be publishing the full report on the 2010 financial year on March 31, 2011.