Major projects in the Solar segment delayed – SINGULUS TECHNOLOGIES adjusts forecast for the business year 2023
Kahl am Main, July 6, 2023 – Following information from key customers in the Solar segment regarding their investment plans, the company notes that the start of significant projects in this segment will be delayed. As these delays have an impact on the revenue recognition of the current year, SINGULUS TECHNOLOGIES adjusts the forecast for the business year 2023.
Based on the order backlog in the amount of € 82.6 million as of March 31, 2023, as well as in anticipation of further order intake in the current business year, SINGULUS TECHNOLOGIES adjusts the forecast for the business year 2023. Revenues are expected to be within a range of € 90 million to € 100 million instead of between € 140 million to € 150 million as previously. The company is reducing its expectation for operating earnings before interest and taxes (EBIT) from a low double-digit to a low single-digit million € amount as previously. The achievement of these key financial figures assumes that business will develop as planned in all segments.
Dr.-Ing. Stefan Rinck commented on the latest developments in the solar industry as follows: “Both the U.S. and the EU have announced significant support for local production of solar cells. The energy scenarios developed by the EU as part of its 2050 climate goals include photovoltaics as a critical component.” Dr. Rinck continued by emphasizing, “Currently, numerous investment projects are being discussed in the U.S. and Europe. As a company, we offer innovative and efficient production equipment for the crucial manufacturing steps in solar cells.”
Background SINGULUS TECHNOLOGIES and Solar Technology
In the Solar segment SINGULUS TECHNOLOGIES focuses on processes and equipment to produce crystalline solar cells as well as thin-film solar cells. The company’s spectrum includes vacuum coating equipment, thermal processing equipment and wet-chemical treatment equipment. The work area of crystalline silicon solar cells includes production equipment for high-performance cell concepts such as HJT (Heterojunction), IBC (Interdigitated Back Contact) and TOPCon (Tunnel Oxide Passivated Contacts) solar cells as well as tandem solar cells such as perovskite tandem solar cells. Furthermore, SINGULUS TECHNOLOGIES offers complete production lines for cell manufacturing.
SINGULUS TECHNOLOGIES – Thin-Film Technology and Surface Treatment
SINGULUS TECHNOLOGIES develops and builds innovative machines and equipment for efficient production processes in 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