Singulus Technologies AG

Earnings Release • Mar 30, 2004

News Details

Corporate | 30 March 2004 08:01

SINGULUS Announces Final Figures for 2003:

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– SINGULUS TECHNOLOGIES Announces Final Figures for 2003: -Revenues 362.6 Million Euro (+24,8%) -EBIT 60.5 Million Euro (+ 14,7 %) -Equity Ratio 70.4 % -Order Intake for Q1-2004 approx. 140 Mill. Euro -Q1-2004 Order Intake for DVD-R higher than DVD-R Revenues Fiscal 2003 -Share of new Business Segments to Exceed 20% within the next 5 Years SINGULUS TECHNOLOGIES added another good year to the company’s history. Revenues and earnings growth reached double-digit figures. At 362.6 million Euro, revenues for fiscal 2003 grew 24.8% over the prior year (290.5 million Euro). Earnings before interest and tax (EBIT) increased by 14.7% to 60.5 million Euro (prior year 52.7 million Euro). Pre-tax earnings total 63.0 million Euro (54.5 million Euro last year), a 15.6% increase over 2002. SINGULUS’ net income grew to 40.3 million Euro (+10%). Earnings per share rose from 0.99 to 1.09 Euro. At 107.6 million Euro, gross revenues for Q4/2003 were markedly higher (+32.7%) than those for the prior Q4/2002 (81.1 million Euro). During the course of 2003, orders booked totaled 382.7 million Euro. By 12/31/03, the order backlog totaled 78.6 million Euro. The acquisition of ODME B.V. increased this figure by 11.8 million Euro on January 1, 2004, boosting the total order backlog at the start of 2004 to 90.4 million Euro (prior year 58.5 million Euro). On December 31, 2003, 599 people were employed by the SINGULUS TECHNOLOGIES group (21/31/02: 502). The Kahl headquarters is staffed by 343 employees and 256 people are employed at the company’s subsidiaries. The ODME acquisition increased the employee count by 96 in 2004. In 2003, SINGULUS TECHNOLOGIES improved its excellent financial and asset standings. The company’s equity capital grew by 20.8% to 219.5 million Euro and its equity ratio is 70.4%. The company posted cash assets of 66.4 million Euro on 12/31/03 (2002: 53.9 million Euro) and remains debt-free. Forecast for 2004 Well-known market observers currently expect global DVD production to grow at an average rate of 25% annually for the next three years. SINGULUS contends that it can sustain its dominant position in this rapidly growing market. In the wake of the successes achieved by its recordable format machines in 2003, the company will devote particular attention to the substantial growth potential in the DVD-R (once recordable) market. The international market research firm Understanding & Solutions expects the current 630 million disc volume of the DVD-R market to quadruple within the next five years. The dual-layer DVD+R, jointly introduced by MITSUBISHI and PHILIPS a short time ago, presents a new business opportunity for SINGULUS TECHNOLOGIES. Home video recording of on-demand internet videos is considered to be the “killer application” for this innovative format. High definition digital television (HDTV) will achieve a breakthrough in North America and Japan by late 2004 and permeate the market at an accelerated rate in 2005 and beyond. This assertion was made by major TV manufacturers at the CEBIT trade show held in March 2004. Consequently, demand for the new “Blu-Ray” or “HD-DVD (AOD)” formats, or possibly both of these options competing for primacy in the 3rd generation of optical discs, will accelerate in 2005. SINGULUS is already engaged in the third generation of optical data storage with its mastering operations. SINGULUS TECHNOLOGIES will provide the prerequisites to also demonstrate technological leadership in the market for Blu-Ray/HD-DVD (AOD) replication lines. Sustained success in optical data storage replication lines will provide SINGULUS TECHNOLOGIES the opportunity for expansion into promising new vacuum thin film applications (MRAM, ophthalmics, specialty lenses, etc.) with initial revenues and earnings expected for fiscal 2004. The Managing Board has established a goal to increase new business segment revenues and earnings by more than 20% within the next five years. Accordingly, these new endeavors should demonstrate above-average growth by 2005. The company enters fiscal 2004 with a significantly higher order backlog than a year ago. The overall mood in the “digital industry” remains very upbeat. Based on its technological core competence, its leading position in the global market for optical disc replication systems, and its expansion into new areas of operation, the company considers itself well-prepared to remain an organization dedicated to achieving dynamic growth and solid earnings. The 2003 financial statements for the SINGULUS TECHNOLOGIES group will be released and discussed during a financial press and analyst conference to be held today in Frankfurt/Main. The annual report is available on the company’s website. 30.03.2004 For more Information: Bernhard Krause, SINGULUS TECHNOLOGIES AG, Mobil:+ 49 (0) 170 920 2924 Bernhard.Krause@go-metacom.de end of message, (c)DGAP 30.03.2004 ——————————————————————————– WKN: 723890; ISIN: DE0007238909; Index: TecDAX, NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 300801 Mär 04