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Unedited press release follows:
Kahl am Main, November 18, 2015 – The key financial figures of the current business year are mainly impacted by the once again weak course of business in the Optical Disc division. In its forecast for the business year 2015 SINGULUS TECHNOLOGIES had projected to achieve stable order intake and sales in the core segments Optical Disc and Solar. The renewed lack of expected orders for Blu-ray impact sales similar to the previous year and in particular also weighs heavily on the earnings. In the Solar division, sales were increased compared with the previous year.
SINGULUS TECHNOLOGIES had reported the preliminary key figures for the first nine months of 2015 on October 27, 2015 through an ad-hoc release pursuant to Art. 15 WpHG. During the first nine months of the current business year the company recorded sales of € 57.7 million and is thus slightly above the level of the prior-year period in the amount of € 52.8 million. Sales in the 3rd quarter came to € 28.5 million (previous year: € 22.7 million).
The loss on an operating basis (EBIT) amounts to € -13.9 million for the first nine months of the current business year (previous year: € -38.7 million). During the first nine months of the business year 2015 the order intake of € 84.4 million (previous year: € 48.4 million) was substantially above the comparable figures one year ago. In the quarter under review the order intake came to € 11.3 million (previous year: € 23.2 million). The order backlog as per September 30, 2015 amounted to € 40.7 million and was thus above the comparable level as of September 30, 2014 (€ 15.9 million).
The cash flow in the first nine months was negative. The available liquid funds of € 35.8 million as of December 31, 2014 declined by € 19.2 million to € 16.6 million as of the end of the third quarter.
The number of employees in the SINGULUS TECHNOLOGIES Group decreased from 352 salaried employees as of December 31, 2014 to 343 employees as of September 30, 2015.
Outlook for the business year 2015
The lack of expected new orders for Blu-ray impacts the sales and in particular the earnings expectations considerably. In contrast, in the Solar division sales were increased compared with the previous year. Nevertheless, the Group’s forecast for the current business year cannot be maintained.
For the current business year SINGULUS TECHNOLOGIES expects sales above the previous year. The EBIT at the end of the business year will be significantly negative and slightly improved compared with the previous year.
The Executive Board will discuss the restructuring concept of the bond with the designated joint representative in the coming weeks. The Executive Board still pursues the implementation of a debt-equity swap. The proposals will be presented to the bondholders in the course of an additional bondholder meeting and afterwards to the shareholders at an extraordinary general meeting. Accordingly, the Executive Board will not make use of the authorization of a capital reduction approved during the ordinary general meeting in June, but will rather put up for vote capital measures to the shareholders in connection with the debt-equity swap.
The Executive Board will report on the respective results in a timely manner.
Consolidated key figures SINGULUS pursuant to IFRS (unaudited)
|Sales (gross)||in million €||52.8||57.7|
|Order intake||in million €||48.4||84.4|
|Order backlog (Sept. 30)||in million €||15.9||40.7|
|EBIT||in million €||-38.7||-13.9|
|EBIT (operating)||in million €||-18.3||-13.9|
|EBITDA||in million €||-14.8||-10.5|
|Earnings before taxes||in million €||-41.3||-17.4|
|Net profit/loss||in million €||-41.7||-17.7|
|Employees (Sept. 30)||359||343|
|Earnings per share, basic||€||-0.85||-0.36|
|3rd quarter 2015||2014||2015|
|Sales (gross)||in million €||22.7||28.5|
|Order intake||in million €||23.2||11.3|
|EBIT||in million €||-26.2||-4.1|
|EBIT (operating)||in million €||-5.8||-4.1|
|EBITDA||in million €||-4.9||-2.5|
|Earnings before taxes||in million €||-27.0||-5.2|
|Net profit/loss||in million €||-27.4||-5.4|
|Earnings per share. basic||€||-0.56||-0.11|
Profile SINGULUS TECHNOLOGIES:
SINGULUS TECHNOLOGIES develops technologies for economical and resource-efficient production processes.
The application areas include vacuum thin-film and plasma coating for wet-chemical processes as well as thermal process technologies.
For all 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.