Kahl am Main, March 15, 2021 – The SINGULUS TECHNOLOGIES AG (SINGULUS TECHNOLOGIES) reports preliminary, unaudited financial results for the business year 2020. As of December 31, 2020, the order backlog stood at about € 76.0 million. Sales for the business year 2020 were in a range from around € 33.0 to 34.0 million. For the operating earnings before interest and taxes (EBIT) excluding extraordinary write-offs, the company projects a loss in a range from € – 32.5 to 33.5 million. In addition, extraordinary write-offs in the amount of € 5.0 to 6.0 million were incurred in 2020. Accordingly, the EBIT including one-off items was in a range from € – 38.0 to 39.0 million. As of December 31, 2020, the liquid funds amounted to € 9.8 million. Currently, the company has sufficient liquid funds to finance the ongoing operations.
The financial results are preliminary and unaudited. The attestation by the responsible auditing company for the annual accounts drawn up by SINGULUS TECHNOLOGIES is currently still pending. It will be issued when the refinancing or the prolongation of the outstanding, interest-bearing liabilities is secured.
SINGULUS TECHNOLOGIES has already reached an agreement with the holders of over 25% of the total bond volume of € 12.0 million on the adjustment of essential terms of the bond. A renewed term for a further five years until July 2026 and a reduction in interest payments for the extended term were agreed. The company will invite all bondholders to the required voting at short notice to formally adjust and agree to the new bond terms. In addition, an agreement to prolong the term to maturity for the senior-secured bond in the amount of € 4.0 million was reached with the creditors.
The issuance of the attestation and thus the adoption and report of the final results for the business year 2020 for the Group and the Aktiengesellschaft (Stock Corporation) will be delayed until after March 31, 2021 due to the ongoing negotiations regarding the refinancing or the prolongation of the long-term financial liabilities.
SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103,
D-63796 Kahl/Main, WKN A1681X / ISIN DE000A1681X5