SINGULUS TECHNOLOGIES Publishes Interim Report as of September 30, 2022 (unaudited)
- Increased sales and earnings compared with 2021
- Order backlog at € 93.4 million as of September 30, 2022
- Gross profit margin at 28.8 % at prior-year level
- Liquidity amounting to € 15.6 million as of September 30, 2022
- Legally binding resolution of bondholders’ meeting
- Attestations for financial accounts 2020/2021 expected for beginning of 2023
Kahl am Main, November 11, 2022 – SINGULUS TECHNOLOGIES was able to further improve the key financial results for the year 2022 compared with the prior year. Sales in the first nine months of 2022 increased to € 67.5 million compared with € 45.5 million in the prior-year period. The operating earnings before interest and taxes (EBIT) for the first nine months also improved and came to € 9.5 million (previous year: € -7.6 million). This includes the one-time income from the sale of the property at the Fürstenfeldbruck site.
The order backlog as of September 30, 2022 amounting to € 93.4 million was slightly below the level of 2021 with € 105.6 million. During the first nine months of the business year 2022 the order intake of € 46.2 million was below the comparable result one year ago (previous year: € 73.3 million). The unrestricted, available liquidity of SINGULUS TECHNOLOGIES amounted to € 15.6 million as of September 30, 2022 compared with € 14.9 million as of December 31, 2021. The gross profit margin for the first nine months of 28.8 % was around the prior-year level of 29.2 %.
After the first bondholders’ meeting was not quorate due to the low quorum, all proposed resolutions to amend the bond terms and conditions were approved by over 98% at the second meeting. Amongst others, these included the temporary waiver of the bondholders’ potential termination rights due to the still pending publication of the audited financial results for 2020 and 2021 and allowed the company more flexibility for financing options. Accordingly, it is possible to draw a working capital credit line with a volume of up to € 30.0 million. The larger financing scope could especially be required in connection with larger PV projects. Furthermore, the Mutual Representative proposed by the issuer, the Tauris Service GmbH, was appointed with 98.4 % of the votes. The resolutions of the second meeting have thus become legally effective.
The bondholder of the loan amounting to € 10 million informed the company on October 31, 2022, to extend the deadline to publish the audited financial results for 2020 on 2021 until March 31, 2023. The attestations of the individual and consolidated financial results drawn up by SINGULUS TECHNOLOGIES for the business years 2020 and 2021 are currently still pending. SINGULUS TECHNOLOGIES is in talks with the auditor to fulfill the required conditions. The company currently expects the attestations for the business years 2020 and 2021 to be issued by January 31, 2023.
Development of markets with interesting growth rates
The company focuses on markets where the employment of the offered machines enables a differentiation against competitors and value-added for the respective customers. The company targets markets with attractive growth rates. In additional to new applications in the segments Solar and Life Science the company develops applications for coating technology in the work areas hydrogen and battery technology.
Despite the sustained difficult environment in particular in connection with disrupted supply chains and the Russia-Ukraine war, for the current fiscal year 2022, SINGULUS TECHNOLOGIES forecasts an increase in sales and earnings pursuant to IFRS compared with the prior fiscal years 2020 and 2021. The operating earnings before interest and taxes (EBIT) should also develop favorably. To achieve these improved financial forecasts requires a course of business activities in all segments as planned.
SINGULUS TECHNOLOGIES – Thin-Film Technology and Surface Treatment
SINGULUS TECHNOLOGIES develops and builds innovative machines and equipment for efficient production processes in the area of thin-film technology and surface treatment, which are utilized world-wide in the markets of photovoltaics, semiconductors, medical technology, packaging, glass & automotive as well as batteries & hydrogen. The company’s core competencies include processes of coating technology, surface treatment as well as wet-chemical and thermal production processes. SINGULUS TECHNOLOGIES views sustainability as an opportunity to position itself with innovative products. In the focus are:
- environmental awareness
- efficient use of resources
- avoidance of unnecessary CO2 pollution.
Responsible and sustainable corporate governance is very important to SINGULUS TECHNOLOGIES.
SINGULUS TECHNOLOGIES AG, Hanauer Landstraße 103,
D-63796 Kahl/Main, WKN A1681X / ISIN DE000A1681X5
Maren Schuster, Investor Relations, Tel.: + 49 (0) 160 9609 0279
Bernhard Krause, Unternehmenssprecher, Tel.: +49 (0) 172 833 2224