Singulus Technologies AG

Earnings Release • Oct 25, 2012

News Details

Ad-hoc | 25 October 2012 21:02

SINGULUS TECHNOLOGIES Reports Preliminary Key Figures and Adjusts Full-Year Targets For 2012

SINGULUS TECHNOLOGIES AG / Key word(s): Preliminary Results

25.10.2012 21:02

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Ad hoc announcement pursuant to § 15 WpHG

SINGULUS TECHNOLOGIES Reports Preliminary Key Figures and Adjusts Full-Year
Targets For 2012

Kahl am Main, October 25, 2012 - Following talks with Optical Disc
customers SINGULUS TECHNOLOGIES (SINGULUS) has to concede that despite a
high utilization rate in disc manufacturing, larger investments in Blu-ray
production equipment will not be realized this year anymore. This has a
negative impact on the development of SINGULUS' business results for the
year 2012. Due to the disappointing development of this year's sales levels
for Blu-ray machines as well as the still difficult situation on the market
for equipment for the production of solar cells, SINGULUS had to implement
a couple of measures, which had an additional negative impact on the key
financial figures.

The Executive Board has resolved drastic measures owing to the business
situation. In the Optical Disc segment this mainly affects the foreign
subsidiaries and the product segment 'Mastering'. Furthermore, the work
area of machines for wet-chemical production steps at the subsidiary
SINGULUS STANGL SOLAR GmbH ('Wet-Chemical') is affected by the decline in
the market for silicon-based solar cells. Overall, in the Solar segment
structures and capacities in the wet-chemical division as well as
capitalized development expenses for traditional coating technology are
therefore further adjusted. Accordingly, at the end of the business year
2012 the headcount at the Fürstenfeldbruck site will be reduced by about 40
%.
The impairment review of all balance sheet items resulted in provisions,
write-offs on inventories and on accounts receivable as well as write-downs
in the amount of EUR 43.3 million for the current quarter 2012. The
majority of the necessary balance sheet adjustments do not result in
additional cash outflows. SINGULUS has sufficient liquid funds. The balance
sheet continues to remain stable and is still very solid with an equity
ratio of approximately 40 %.

Against this background pursuant to preliminary results SINGULUS expects
sales of about EUR 83.5 million (previous year: EUR 121.8 million) for the
first nine months and a negative result of about EUR 10.9 million (previous
year: EUR 6.3 million) excluding the aforementioned extraordinary charges.
The order intake in the first nine months stood at EUR 110.6 million
(previous year: EUR 137.0 million). The order backlog amounted to EUR 53.9
million as of September 30, 2012 (previous year: EUR 50.8 million). Due to
the trends in the Optical Disc segment sales for the full-year 2012 will
also fall short of expectations and will be in a range from EUR 100 to 115
million (previous year: EUR 160.0 million). This will lead to an overall
negative result including extraordinary charges in a range from - EUR 54 to
56 million for 2012. On a favorable note, the course of business in the
third quarter only (excluding extraordinary charges) resulted in positive
earnings, however.

SINGULUS sees its strategy in the Semiconductor segment further confirmed
and intends to further expand the position as a provider for vacuum coating
equipment for the semiconductor sector. In the period under review SINGULUS
realized an order intake of EUR 22.5 million for TIMARIS coating machines
in various configurations. Correspondingly, the order intake in the past
nine months exceeded the cumulated order intake of the previous three
years.

SINGULUS thus continues to gradually implement a structural change from a
pure supplier of machines in Optical Disc to a leading provider for vacuum
technology in different segments such as Optical Disc, Solar and
Semiconductor. New application areas will be developed in the future. On
the one hand, capacities have to be adjusted accordingly. On the other
hand, investments in industries of the future and expansions into new work
areas are made.

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

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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@go-metacom.de
Internet: www.singulus.de
ISIN: DE0007238909
WKN: 723890
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

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