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.
SINGULUS TECHNOLOGIES AG, Hanauer Landstraße 103,
D-63796 Kahl/Main, WKN A1681X / ISIN DE000A1681X5
Contact:
Maren Schuster, Investor Relations, Tel.: + 49 (0) 160 9609 0279
Bernhard Krause, Unternehmenssprecher, Tel.: +49 (0) 172 833 2224
E-Mail: bernhard.krause@singulus.de