DGAP-News: SINGULUS TECHNOLOGIES 2010: Turnaround achieved
(firmenpresse) - SINGULUS TECHNOLOGIES AG / Final Results
26.03.2010 08:30
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Press Release
SINGULUS TECHNOLOGIES 2010: Turnaround achieved
- 2009 sales forecast of EUR 116.6 million met
- Business year 2009 with loss
- Positive trend for Blu-ray gains momentum
- Solar sales 2009 around previous year's level
- Solar orders spark confidence
- Short-time work terminated as per March 31, 2010
- SINGULUS returned to TecDAX on March 22, 2010
- Target for 2010: Break-even on EBIT basis
- Dr. Stefan Rinck new CEO from April 1, 2010
- Markus Ehret new CFO from April 19, 2010
Kahl am Main, March 26, 2010 - The SINGULUS TECHNOLOGIES Group (SINGULUS)
reports sales of 116.6 million for the business year 2009. This corresponds
to a decline of EUR 95.5 million compared with the previous year
(EUR 212.1 million). In the Solar segment sales were mainly stemmed from
the consolidated STANGL Semiconductor Equipment AG with EUR 36.0 million in
the year under review and therefore remained around the prior-year level of
EUR 37.9 million.
The earnings before interest and taxes (EBIT) in the business year 2009
were strongly negative at EUR -73.2 million (previous year: EUR -46.2
million). Adjusted for restructuring and impairment expenses an EBIT in the
amount of EUR -40.3 million resulted (previous year: EUR 2.0 million). The
financial result of EUR -6.1 million came in better than in the previous
year (EUR -8.0 million). The net result of EUR 78.8 million was
characterized by declining sales as well as one-time charges. Excluding
restructuring charges a negative result in the amount of EUR -45.9 million
was incurred (previous year: EUR -1.1 million). In the year under review
the cash flow from operating activities was slightly positive at
EUR 0.2 million (previous year: negative at EUR -11.2 million). The liquid
funds at the end of the business year amounted to EUR 15.2 million.
The gross margin of 28.9 % in the business year 2009 was slightly lower
than in the previous year (31.6 %), which was mainly caused by a lower
share of high-margin activities of Blu-ray replication lines.
The order intake dropped by 64.2 % compared with last year and came to
EUR 81.1 million in the business year 2009. Therefore this trend reflected
the impacts of the financial and economic crisis. As per December 31, 2009
the order backlog of EUR 34.7 million also posted a considerable decrease
compared with the previous year (EUR 70.2 million).
SINGULUS continued to adjust capacities to the market development in the
business year 2009 and consequently reduced the cost base for the coming
years. At the end of 2009 the SINGULUS TECHNOLOGIES Group including
HamaTech APE employed 572 people in total (previous year: 722 employees).
With the sale HamaTech APE at the beginning of 2010 85 employees were
excluded from the scope of consolidation. With currently 487 employees the
headcount corresponds to required capacities so that the short-time work
will be terminated as per March 31, 2010.
OUTLOOK
The crisis of the global economy had a strong impact on the business
activities of the SINGULUS TECHNOLOGIES AG in 2009. For the year 2010
experts are projecting a gradual improvement of the economy. How quickly
this will happen, cannot be forecast reliably. However, fortunately the
project activities at SINGULUS improved in both the Optical Disc and Solar
segments and therefore an improvement in the order intake is expected.
We are optimistic for the Optical Disc segment due to the increase of 60 %
for Blu-ray Disc projected by market researchers. In case of such growth
rates disc manufacturers will quickly reach their capacity limits and have
to invest in new production equipment.
In the Solar segment an economic recovery has already become visible since
the beginning of 2010. Inventories at cell manufacturers declined and the
demand has improved considerably again. In many regions of the world the
generation of electricity with photovoltaics will continue to expand. On
that account SINGULUS offers modern plant systems, which provide cost
reduction potential for the cell manufacturers in the production process.
The strategic transition from a pure single machine provider towards a
system supplier will open new opportunities for the company.
SINGULUS has used the time of consolidation in the years 2008/2009 to
develop its Solar activities and to cooperate with important customers in
the solar market. The company's goal is to build a strong market position
for production equipment for solar cells in the next couple of years and to
benefit from the upcoming growth in the solar market. This holds true for
the introduction of new technologies for both the silicon and thin-film
solar technology.
Turnaround achieved - positive results on EBIT basis target for 2010
In the past business year 2009 the company achieved the turnaround. As the
market leader in the optical disc segment and with new products in the
Solar division SINGULUS TECHNOLOGIES will return to profitability with its
operating activities. It is the declared target of the Executive Board and
the entire management to generate profits on an EBIT basis in 2010 and to
realize sustainable earnings from 2011 once again.
Changes in the Executive and Supervisory Boards
Dr. Stefan Rinck (52), member of the Executive Board since September 1,
2009, will take over the management of the company as Chief Executive
Officer (CEO) from April 1, 2010.
With effect from April 19, 2010 Mr. Markus Ehret (43) will become a member
of the Executive Board as Head of Finance and Administration, CFO.
As planned, Mr. Roland Lacher will return to the Supervisory Board on April
1, 2010, where he will be Chairman. Deputy Chairman Dr. Wolfhard Leichnitz
and Mr. Günter Bachmann are the other members of the three-person
Supervisory Board. The Supervisory Board mandate of Mr. Jürgen Lauer
terminates on March 31, 2010.
At a Glance - Consolidated Key Figures
2007 2008 2009SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103,
Sales in million EUR 229,5 212,1 116,6
Order intake in million EUR 203,8 226,4 81,1
Order backlog (31.12.) in million EUR 55,8 70,2 34,7
EBIT in million EUR 1,1 -46,2 -73,2
Earnings before taxes in million EUR 1,6 -54,1 -79,4
Net profit in million EUR 3,0 -49,3 -78,8
Operating cash flow in million EUR -3,6 -11,2 0,2
Shareholders' equity in million EUR 293,3 245,5 165,7
Balance sheet total in million EUR 443,9 424,6 263,6
Research&Development in million EUR 25,6 20,1 15,1
Employees (Dec. 31) 764 722 572
Earnings per share, basic EUR 0,05 -1,32 -2,11
D-63796 Kahl/Main, ISIN: DE0007238909, WKN: 723890
For further information please contact:
Maren Schuster, Head of Investor Relations,
SINGULUS TECHNOLOGIES AG, Tel.: + 49 (0) 6188 - 440612, or
Bernhard Krause, Corporate Communications,
SINGULUS TECHNOLOGIES AG, Tel.: + 49 (0) 170 920 29 24
Contact:
SINGULUS TECHNOLOGIES AG, Hanauer Landstraße 103,
D-63796 Kahl/Main, ISIN: DE0007238909, WKN: 723890
Contact:
Maren Schuster, Investor Relations,
Tel.: + 49 (0) 6188 440 612,
Bernhard Krause, Corporate Communications,
Tel.: + 49 (0) 6181 98280 20 / +49 (0) 170 9202924
26.03.2010 08:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: SINGULUS TECHNOLOGIES AG
Hanauer Landstrasse 103
63796 Kahl am Main
Deutschland
Phone: +49 (0)1709202924
Fax: +49 (0)6188 440-110
E-mail: bernhard.krause(at)go-metacom.de
Internet: www.singulus.de
ISIN: DE0007238909
WKN: 723890
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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