Press Release

Contact:

Bernhard Krause
Singulus Technologies AG
Hanauer Landstrasse 103, 63796 Kahl am Main, Germany
Tel.:     +49 (0) 1709202924
Fax:     +49 (0) 61 88 - 4 40 - 110
E-mail: Bernhard.Krause@Singulus.de
SINGULUS TECHNOLOGIES Reports Consolidated Annual Results for 2016
March 30, 2017
  • Sales in 2016 at € 68.8 million
  • Earnings before interest and taxes at € -17.7 million
  • Order intake amounts to € 152.1 million
  • Successful completion of the financial restructuring
  • Doubling of sales planned in 2017
  • Positive EBIT in the low single-digit million euro range expected for 2017

Kahl am Main, March 30, 2017 – The SINGULUS TECHNOLOGIES AG reports for the fiscal year 2016 that gross revenue of EUR 68.8 million was generated, down on the prior-year figure of EUR 83.7 million.

Earnings before interest and taxes (EBIT) amounted to EUR -17.7 million in the reporting period (previous year: EUR -34.5 million). Adjusted for one-off expenses, EBIT amounted to EUR -17.3 million (previous year: EUR -18.2 million). A restructuring gain of EUR 41.2 million was recognized in the reporting year in connection with the bond restructuring. Overall, the financial result for fiscal year 2016 was EUR 37.8 million (previous year: EUR -8.8 million). The net profit for the period amounted to EUR 18.9 million in fiscal year 2016 (previous year: net loss of EUR 43.4 million).

Total order intake was up significantly on the prior-year figure to EUR 152.1 million in the reporting period (previous year: EUR 96.3 million). The major order with state-owned China National Building Materials (CNBM) in China in particular led to a year-on-year increase in order intake. The order backlog as of December 31, 2016 was EUR 109.9 million (previous year: EUR 26.6 million). Overall, cash and cash equivalents decreased slightly in the reporting period, declining by EUR 0.5 million to EUR 18.5 million as of December 31, 2016.

SINGULUS TECHNOLOGIES continued to pursue a conservative human resources policy in fiscal year 2016. The headcount in Germany remained more or less unchanged as of the end of the year, at 278 employees (previous year: 283 employees). Overall, the SINGULUS TECHNOLOGIES Group's global headcount declined to 318 employees (previous year: 335 employees).

Financial restructuring of the company in 2016
During the first half of 2016 SINGULUS TECHNOLOGIES was able to already complete the financial restructuring of the corporate bond due in March 2017 as far as possible. The concept mainly provided for the exchange of the old SINGULUS bond into new shares of the company as well as new bearer notes of the secured bond, which was newly issued in the meantime.

As a final step of the financial restructuring, SINGULUS TECHNOLOGIES has issued 2,021,938 new shares for a subscription price of € 3.25 per new share in the course of the subscription right capital increase. All shareholders were offered a subscription right with a ratio of 3 : 1. In addition the former bondholders were able to exercise the overall held purchase rights. All of the offered shares were subscribed through the execution of subscription rights and additional subscriptions by the rights holders. The entry of the implementation of the capital increase into the commercial register was effected on October 7, 2016. The nominal capital of the company of € 6,065,814 was increased by the amount of € 2,021,938 to € 8,087,752.

Outlook und Expectations
For the business year 2017, the company thus expects a doubling of sales compared with the prior year and a positive EBIT in the low single-digit million euro range. The forecast for the full-year targets 2017 mainly rest on the assumptions that the work for the second production site for CNBM will commence during the first half of the year and that the realization of the expected additional orders for production machines in the Solar division will take place, especially in the area of wet-chemical equipment. Correspondingly, the forecasts assume a substantial expansion of sales in the Solar segment. Furthermore, the Semiconductor and Optical Disc division should improve compared with the previous year.

The strategy of our company is aimed at utilizing our core competencies in processing technology and engineering to gain additional market share in our key markets – in particular Solar – through innovative engineering and machine concepts.

Consolidated Key Figures 2015/2016

20152016
Salesin million €83.768.8
Order intakein million €96.3152.1
Order backlog (Dec. 31)in million €26.6109.9
EBITin million €-34.5-17.7
Earnings before taxesin million €-43.320.1
Net profit/lossin million €-43.418.9
Operating cash flowin million €-10.514.1
Shareholder's equityin million €-21.512.1
Balance sheet totalin million €92.196.2
Research & development expenditure in million €11.212.3
Employees (Dec. 31) 335318
Number of shares outstanding305,8148,087,752
Earnings per share, basic-141.95.13

SINGULUS TECHNOLOGIES
Innovations for new technologies

SINGULUS TECHNOLOGIES builds machines for economical and resource-efficient production processes.
SINGULUS TECHNOLOGIES’ strategy is based on the use and expansion of its existing core competencies. The application areas include coating technology, surface processing, wet-chemical applications as well as the related chemical and physical processing steps. The company’s target is to reach a technologically leading position in the Solar division.

For all machines, processes and applications SINGULUS TECHNOLOGIES draws upon its know-how in the areas of automation and process technology.

SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103, D-63796 Kahl/Main

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