Singulus Technologies announced financial results for the first quarter of 2018.

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Unedited press release follows:

SINGULUS TECHNOLOGIES announces key figures for Q1 2018

• Order backlog of € 125.5 million significantly above prior-year level

• Sales of € 17.3 million in the 1st quarter still below prior-year level

• EBIT in the amount of € -1.6 million

• Prepayments received until now exceeding € 40 million

• Several major orders in Solar division

• Solar division continues to perform favorably overall

Kahl am Main,15 May 2018 – Sales within the SINGULUS TECHNOLOGIES Group (SINGULUS TECHNOLOGIES) amounted to € 17.3 million in the quarter under review and was thus below the previous year’s level of € 26.1 million. The high order backlog of € 125.5 million (March 31, 2017: € 92.9 million) was above the prior-year level and mainly includes machines for the production of CIGS solar modules. The order intake at SINGULUS TECHNOLOGIES of € 36.1 million in the 1st quarter 2018 was significantly higher than the previous year’s level (€ 9.1 million). Overall, the 1st quarter came in below the prior-year level with earnings before interest and taxes (EBIT) amounting to € -1.6 million (previous year: € 1.4 million). The EBITDA of € -1.2 million was also below the previous year’s level of € 1.8 million. Within the first three months of the business year a gross profit margin of 27.1 % (previous year: 30.1 %) was achieved.

Dr.-Ing. Stefan Rinck, CEO SINGULUS TECHNOLOGIES: „In the first months of 2018, we have mainly received prepayments for the delivery of production machines for the Solar division with an order volume exceeding € 40 million. Our company was thus able to further expand the leading position for the delivery of production machines for CIGS solar modules.”

Dr.-Ing. Stefan Rinck continues: „In addition to the growth in the solar sector, SINGULUS TECHNOLOGIES will continue to work intensively in 2018 on the introduction of its processes and systems into new market areas. We expect further orders from semiconductor, decorative, and medical technology this year. “

The headcount within the SINGULUS TECHNOLOGIES Group remained at a constant level with 318 employees as of March 31, 2018 (December 31, 2017: 315 employees).

Outlook for the business year 2018
Pursuant to IFRS SINGULUS TECHNOLOGIES forecasts a significant increase in sales for the year 2018 compared with the previous year. Although several projects were only initiated towards the end of the quarter, the Executive Board expects a substantial increase in sales within the group of companies to a low triple-digit million Euro amount. Accordingly, the EBIT is forecast to be positive at a mid-single-digit million Euro range in the business year 2018.

The key sales and earnings driver are expected from the Solar division and here in particular from a few, major project orders for investments in production lines for thin-film solar modules on the basis of CIGS technology. The prerequisite for reaching these targets is a continuation of the agreed projects as planned, in particular the receipt of additional prepayments by our customer CNBM for the currently assembled machines at the sites in Bengbu and Meishan.

SINGULUS TECHNOLOGIES – Innovations for New Technologies
SINGULUS TECHNOLGOIES builds innovative machines and systems for efficient and resource-friendly production processes. SINGULUS TECHNOLOGIES’ strategy is to take advantage of its existing core competencies and to expand these further.

The core competencies include vacuum coating, surface processing, wet-chemical and thermal production processes. The company offers machines, which are used worldwide in the solar, semiconductor, medical technology, consumer goods and optical disc sectors. For all of the machines, processes and applications SINGULUS TECHNOLOGIES harnesses its automation and process technology expertise.