Singulus Technologies AG

Earnings Release • May 19, 2016

News Details

Corporate | 19 May 2016 07:45

SINGULUS TECHNOLOGIES announces key figures for Q1 2016

DGAP-News: SINGULUS TECHNOLOGIES AG / Key word(s): Interim Report

2016-05-19 / 07:45

The issuer is solely responsible for the content of this announcement.

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Press Release

SINGULUS TECHNOLOGIES announces key figures for Q1 2016

– Sales and EBIT at low levels

– Implementation of the resolved bond restructuring initiated

– Available liquidity of EUR 12.8 million as of March 31, 2016

– Slightly negative EBIT expected for 2016

– Extensive Solar orders still in negotiations

Kahl am Main, 19. May 2016 – In the quarter under review, due to the lower order backlog at year-end, sales in the SINGULUS TECHNOLOGIES Group amounted to only EUR 14.1 million, which was slightly higher than the prior-year level of EUR 12.6 million, however. The earnings before interest and taxes (EBIT) came to EUR -5.8 million and nearly reached the level of the previous year of EUR -5.9 million. The order intake in the 1 st quarter 2016 amounted to EUR 10.4 million (previous year: EUR 62.8 million). The order backlog amounted to EUR 22.9 million as of March 31, 2016 (previous year: EUR 64.2 million).

The order intake in the prior-year quarter was impacted by major orders for the delivery of vacuum coating machines as well as by an order for the delivery of process machines of the SILEX II type. In the 1 st quarter 2016 the extensive orders for production machines for CIGS thin-film solar modules currently in negotiations could not yet be concluded. The amount of cash and cash equivalents declined by EUR 6.2 million in the 1 st quarter of 2016 to EUR 12.8 million.

Implementation of the resolved bond restructuring

The second bondholder meeting of the SINGULUS TECHNOLOGIES AG with respect to the SINGULUS bond 2012/2017 (ISIN DE000A1MASJ4 / WKN A1MASJ) had resolved a restructuring of the SINGULUS bond on February 15, 2016, which the Extraordinary General Meeting on February 16, 2016 also passed. Actions for rescission were filed against the resolutions of both assemblies. However, both the action for rescission against the resolutions of the bondholder meeting as well as the action for rescission against the resolutions of the Extraordinary General Meeting were revoked by the plaintiffs on short notice. Accordingly, the SINGULUS TECHNOLOGIES AG commenced the implementation of the resolved restructuring of the SINGULUS bond.

The resolutions passed by the bondholders meeting with respect to agenda items 4 to 7 as well as 12 and 13 have already been concluded at the custodian Clearstream Banking AG. Accordingly, the respite of the interest payment under the SINGULUS bond until March 23, 2017 and the temporary waiver of certain termination rights have become effective. The implementation of the resolution with respect to the exchange of the SINGULUS bond into purchase rights (agenda item 11) as well as the corporate actions resolved by the Extraordinary General Meeting will commence during the course of the year. A capital increase in kind by EUR 5,760,000.00 through the issuance of 5,760,000 new bearer shares with a nominal value of EUR 1.00 each to the exclusion of the subscription rights of the current shareholders should be implemented by the beginning of August of this year. The subject of the payment in kind are the entire claims from the certificates of indebtedness arising from the SINGULUS bond. In addition to the issuance of new shares, the company will issue a new secured bond with a nominal volume in the amount of EUR 12 million as further consideration.

In order to enable both the current and future shareholders to participate in the ordinary annual general meeting, the meeting will be postponed from June 7, 2016 to August 31, 2016.

Outlook for the Business Year 2016

For the current business year SINGULUS TECHNOLOGIES projects sales in a range of EUR 115 to 130 million. Despite the higher sales compared with the previous year, the company still expects a negative EBIT for 2016 in the range of EUR -2.0 to -6.0 million.

The forecast for the full-year targets for 2016 is mainly based on the assumptions that the Solar market will continue to perform favorably, the extensive orders for production machines for thin-film solar modules in discussion will be received in the short term and the associated sales can be realized as planned.

1 st quarter		2015	2016
Sales	in million EUR	12.6	14.1
Order intake	in million EUR	62.8	10.4
Order backlog as of March 31	in million EUR	64.2	22.9
EBIT	in million EUR	-5.9	-5.8
EBITDA	in million EUR	-5.0	-5.2
Result for the period	in million EUR	-6.9	-7.1
Earnings per share	EUR	-0.14	-0.15
Number of employees as of March 31		345	336

Actual Corporate Calendar 2016

May May 19 Q1/2016 Report

August August 18 Half Year Report 2016

August 31 Ordinary Annual Shareholders Meeting,

10:30 am, Deutsche Nationalbibliothek

Adickesallee 1, 60322 Frankfurt am Main

November November 14 Q3/2016 Report

SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103, D-63796 Kahl/Main, ISIN: DE0007238909, WKN: 723890

Contact:

Maren Schuster, Investor Relations, Tel.: + 49 (0) 160 9609 0279

Bernhard Krause, Corporate Communications, Tel.: + 49 (0) 1709202924

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2016-05-19 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	SINGULUS TECHNOLOGIES AG
	Hanauer Landstrasse 103
	63796 Kahl am Main
	Germany
Phone:	+49 (0)1709202924
Fax:	+49 (0)6188 440-110
E-mail:	bernhard.krause@singulus.de
Internet:	www.singulus.de
ISIN:	DE0007238909, DE000A1MASJ4
WKN:	723890, A1MASJ
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart

End of News	DGAP News Service