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Singulus Technologies AG

Quarterly Report May 8, 2008

394_10-q_2008-05-08_1f7de9a5-a119-492d-86c8-bb09acbf3fdf.pdf

Quarterly Report

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Report First Quarter 2008

Consolidated Statements IFRS for Fiscal 2008 as of 31/03/08 (unaudited)

Business Trends and Situation of the SINGULUS TECHNOLOGIES Group

In the 1st quarter 2008 SINGULUS TECHNOLOGIES (SINGULUS) experienced a significant increase in the key figures order intake and order backlog. As a result of the minor order intake in the second half of 2007 sales in the 1st quarter 2008 were below previous year's level however.

With a focus on the segments Blu-ray Disc and Solar an order intake in the amount of € 84.4 million (previous year: € 60.4 million) was achieved in the quarter under review. Accordingly, the order intake was 39.7 % higher than in the same period one year ago. The order backlog rose to € 109.9 million (previous year: € 92.1 million). The general market weakness in the Optical Disc segment in the previous year and the still prevailing format dispute in 2007 only resulted in realized sales in the total amount of € 30.3 million in the 1st quarter 2008 (previous year: € 49.8 million) and an EBIT of € 0.3 million. This includes a one-time positive earnings effect totaling € 15.6 million.

Blu-ray Disc activities substantially better than expected In the 1st quarter 2008 the business prospects in the segment Blu-ray Disc have changed in favor of our company.

The decision of the most important American film studios in favor of the Blu-ray Disc format in January 2008 as the future video standard in the end forced Toshiba to withdraw the HD DVD format from the market. The long-lasting format dispute was settled. Correspondingly, Blu-ray will be the upcoming optical disc format with high growth potential in the next couple of years. At the beginning of the year SINGULUS had already been present at the most important, big disc manufacturers with first equipment supplied. With the strategic acquisition of the Blu-ray Disc equipment operations from Oerlikon Balzers AG on January 31, 2008 SINGULUS has improved its position for Blu-ray Disc.

Nearly 300 visitors from 34 countries showed up on February 27 and 28, 2008 for the Blu-ray machine presentation organized by SINGULUS. With an attendance of 138 companies nearly the entire optical disc industry was present at SINGULUS in Kahl am Main to gather information about the new BLULINE II replication line for Blu-ray dual layer discs. The result of this premiere: Already on the first day of the event orders were signed for BLULINE lines. At the same time, several of the new CRYSTALLINE mastering systems were sold.

Overall, the order intake of 21 machines in total for the BLULINE type in the 1st quarter 2008 confirms the positive expectations of the company for third generation optical discs.

Solar – the second pillar

The STANGL Semiconductor Equipment AG (STANGL), a subsidiary of SINGULUS, further strengthened its market position in the solar market in the first quarter. Several orders for thin-film solar modules on the basis of the CIGS technology as well as wet-chemical equipment in the segment for crystalline silicon solar cells led to an order intake of € 16.0 million in total in the 1st quarter. With STANGL SINGULUS succeeded in gaining instant market access to a market which promises a long-term positive trend with double-digit growth rates.

On March 19, SINGULUS was able to announce another important step for the development of the solar market. A cooperation agreement with Q-Cells for a fully-automated coating machine was signed. The first stage of the cooperation agreement with Q-Cells is the development of a new, fully into the cell production integrated coating station. With the vacuum coating process developed by SINGULUS, the manufacture of anti-reflective layers on solar wafers will be fully automated in the future. With the extremely high quality of the anti-reflective layers the light transmission and the passivation characteristics will be improved and therefore the energy efficiency of the finished solar cells enhanced. It is intended to test the first SINGULUS coating machine for the production at Q-Cells in the current year already.

Order backlog and order intake

The order intake in the 1st quarter of 2008 amounted to € 84.4 million and was thus 39.7 % above previous year's level in the amount of € 60.4 million. The order backlog of € 109.9 million as of March 31, 2008 was also 19.3 % above the level of € 92.1 million recorded in 2007.

Sales and earnings

Due to the weak market environment and the still prevailing format dispute in 2007 sales in the 1st quarter 2008 of € 30.3 million were significantly below previous year's level (previous year: € 49.8 million). The geographical breakdown of sales for the 1st quarter 2008 was as follows: Europe 61.1 % (previous year:

47.6 %), Asia 15.9 % (previous year: 23.5 %), North and South America 21.0 % (previous year: 26.1 %) as well as Africa and Australia 2.0 % (previous year: 2.8 %). The gross margin in the 1st quarter stood at 21.7 %, below the prior-year level (Q1 2007: 29.2 %). This decline was due to the high share of sales of machines in the segment of optical disc recordable equipment in relation to total sales. The earnings before interest and taxes (EBIT) were slightly positive at € 0.3 million in the 1st quarter and thus remained at previous year's level. The EBIT includes an extraordinary effect in connection with the first-time consolidation of the Blu-ray operations acquired from the Oerlikon Balzers AG. The one-off effect in the 1st quarter 2008 as a result of this acquisition is an extraordinary income in the amount of € 15.6 million (badwill) from the purchase price accounting method applied by independent auditors.

Balance sheet and liquidity

The non-current assets amounted to € 251.4 million and were thus above previous year's level (previous year: € 226.2 million). This increase is mainly due to the first-time consolidation of the Blu-ray activities acquired from the Oerlikon Balzers AG. In this connection the intangible assets rose by € 29.2 million.

The item property, plant & equipment of € 12.2 million remained around the prior-year level (previous year: € 12.5 million). The capital expenditure in fixed assets amounted to € 0.5 million in the 1st half of 2008 (previous year: € 0.3 million). Most of the expenditure was used for replacement investments. Current assets were reduced by € 9.8 million during the period under review. Specifically, accounts receivable due within one year declined by € 5.6 million compared with the prior year. Compared with the previous year cash and cash equivalents decreased by € 15.4 million. Compared with the previous year the short-term liabilities declined by € 11.0 million. Specifically, other provisions declined by € 1.5 million and the other short-term liabilities by € 2.1 million. The short-term bank liabilities were reduced by € 5.4 million in connection with the refinancing of a current account facilities that had been used. Compared

SEGMENT REPORTING AS OF MARCH 31, 2008 AND DECEMBER 31, 2007 (IFRS UNAUDITED)

Segment
Optical Disc
Segment
Solar
Segment
Semiconductor
Segment
Coating
Other SINGULUS
Group
03/31/08 03/31/07 03/31/08 03/31/07 03/31/08 03/31/07 03/31/08 03/31/07 03/31/08 03/31/07 03/31/08 03/31/07
Gross revenue 20,299 40,291 7,904 0 2,081 9,263 0 243 0 0 30,284 49,797
Sales deduction and
direct selling costs
661 1,143 107 0 1 143 0 0 0 0 769 1,286
Net revenue 19,638 39,148 7,797 0 2,080 9,120 0 243 0 0 29,515 48,511
Negative difference from the acquisition
of Oerlikon Blu-ray business
15,646 0 0 0 0 0 0 0 0 0 15,646 0
EBIT 6,691 403 417 0 -2,721 1,198 -4,024 -1,351 -100 -41 263 209
EBITDA 11,754 4,171 1,399 0 -1,807 1,757 -1,540 -1,064 76 32 9,882 4,896

with the previous year, the long-term liabilities increased by € 27.9 million. This is mainly due to the first-time consolidation of the Blu-ray activities acquired from the Oerlikon Balzers AG. In this context, the other long-term liabilities and deferred tax liabilities increased.

Shareholders' equity

As of March 31, 2008, the equity of the Group remained around the level as per December 31, 2007 (€ 293.3 million) and stood at € 291.7 million. Equity in the amount of € 286.2 million is attributable to the shareholders of the parent company and € 5.5 million to minorities. The equity ratio stood at 63.5 % and was thus below previous year's level (66.1 %).

Cash Flow

In the 1st quarter 2008 the operating cash flow of the Group of € -1.8 million was below previous year's level (Q1 2007: € 1.0 million). This decline is mainly due to changes in net working capital compared with the same quarter one year ago.

Risk report

During the first three months of the business year 2008 there were no changes with respect to the risks stated in the annual report for the year 2007.

Development of costs and prices

From our point of view the selling prices developed as planned in the 1st quarter of the business year. Material and personnel expenses also developed according to schedule.

Changes in the Executive and Supervisory Boards

With effect from January 1, 2008 per resolution of the Supervisory Board on November 15, 2007, Hans-Jürgen Stangl was appointed to the Executive Board of the SINGULUS TECHNOLOGIES AG responsible for the newly established business division "Solar".

During the period under review there were no other changes with respect to the Executive and Supervisory Boards.

Employees

The number of employees in the SINGULUS Group rose from 699 employees as of March 31, 2007 to 758 employees as of March 31, 2008. Adjusted for the addition of staff from STANGL a decline of 84 employees resulted.

Research and Development (R&D)

SINGULUS works intensively in further developing and optimizing the product range established in the market to maintain our achieved competitive edge. With the PTM inline mastering system CRYSTALLINE and the new production system BLULINE II for dual layer Blu-ray Disc with 50 GB storage capacity a market share of more than 65 % is targeted.

In the fall of 2007 SINGULUS TECHNOLOGIES decided to develop its own coating machine for the application of anti-reflective layers which is fully integrated into the production of silicon solar cells. Because of the extremely high quality of the layer, the anti-reflective and passivation characteristics will be improved and therefore the energy efficiency of the finished cells enhanced. A cooperation agreement with Q-Cells for a fully-automated coating machine was signed. The first step of the cooperation agreement with Q-Cells includes the cooperation in developing the new, fully-automated coating machines of silicon solar cells.

At € 3.9 million in total the expenses for R&D were below previous year's level (previous year: € 4.8 million).

Outlook

Optimistic future outlook

The strength of our company is its unique position in the market for machines for the production of optical storage media. We expect a long-lasting growth for equipment for the production of Blu-ray Discs. SINGULUS has a unique market position worldwide in the Blu-ray Disc technology.

We see a resumption to growth in our core area Optical Disc in the next couple of years.

At the same time together with STANGL we will strengthen our market position in the manufacturing of equipment for the solar cell production in the coming years to establish an additional significant business division next to Optical Disc. Moreover, based on our know-how in the area of surface coating, a machine for the application of anti-reflective coatings and passivation is scheduled to be sold from 2009. This will continue to expand our position in the solar market.

The members of the Executive Board are convinced that the two core business divisions Optical Disc and Solar form an attractive combination for the risk management in the sense of a broader portfolio and for the new positioning of the Group and hence look optimistically into the future with respect to the development of the company.

SINGULUS TECHNOLOGIES The Executive Board

March 31, 2008 Dec. 31, 2007
ASSETS [in k€] [in k€]
Cash and cash equivalents 21,528 36,952
Trade receivables 62,411 68,016
Other receivables and assets 16,517 16,288
Total receivables 78,928 84,304
Raw materials, consumables and supplies 33,340 34,847
Work in process 68,494 55,948
Total inventories 101,834 90,795
Total current assets 202,290 212,051
Non-current trade receivables 10,368 10,544
Non-current tax refund claims 8,675 8,675
Property, plant and equipment 12,159 12,474
Investment property 8,929 8,653
Capitalized development costs 44,864 48,318
Goodwill 76,814 76,814
Other intangible assets 78,418 51,411
Deferred tax assets 11,127 9,300
Total non-current assets 251,354 226,189
Non-current assets classified as held for sale 5,693 5,693
Total assets 459,337 443,933
March 31, 2008 Dec. 31, 2007
LIABILITIES [in k€] [in k€]
Trade payables 14,690 16,335
Current bank liabilities 12,686 18,061
Other current liabilities 19,915 22,008
Prepayments received 10,746 9,772
Tax provisions 3,245 4,551
Other provisions 3,143 4,673
Total current liabilities 64,425 75,400
Non-current bank liabilities 16,204 4,018
Other non-current liabilities 47,279 38,372
Pension provisions 6,525 6,452
Deferred tax liabilities 32,050 25,280
Total non-current liabilities 102,058 74,122
Liabilities in connection with assets held for sale 1,145 1,145
Total liabilities 167,628 150,667
Subscribed capital 36,946 36,946
Capital reserve 47,823 47,503
Other reserves -5,980 -4,428
Accumulated profit 207,454 207,197
Equity attributable to shareholders
of SINGULUS TECHNOLOGIES AG
286,243 287,218
Minority interests 5,466 6,048
Total equity 291,709 293,266
Total liabilities and equity 459,337 443,933

CONSOLIDATED INCOME STATEMENTS AS OF MARCH 31, 2008 AND 2007 (IFRS UNAUDITED)

Three Months
2008 2007
Revenues (gross) k€
30,284
k€
49,797
Sales deductions and direct selling costs -769 -1,286
Revenues (net) 29,514 48,511
Cost of sales -23,108 -34,344
Gross profit on sales 6,406 14,168
Research and development -4,847 -3,806
Sales and customer service -6,154 -4,765
General administration -5,737 -5,270
Other operating expenses / income -5,053 -118
Negative difference from the acquisition
of Oerlikon Blu-ray business
15,646 0
Total operating expenses -6,144 -13,959
Operating income (EBIT) 263 209
Interest income / Interest expense -1,403 406
EBT -1,141 615
Tax income / expenses 1,180 129
Net income 39 744
Thereof attributable to:
Equity holders of the parent 257 648
Minority interests -218 96
Basic earnings per share (in €) 0.01 0.02
Diluted earnings per share (in €) 0.01 0.02
Weighted number of shares - basic 36,946,407 34,941,929
Weighted number of shares - diluted 37,798,637 35,321,929

CONSOLIDATED CASH FLOW STATEMENTS AS OF MARCH 31, 2008 AND 2007 (IFRS UNAUDITED)

Three Months
2008 2007
k€ k€
Net Income 39 744
Depreciation on amortization 9,619 4,687
Change in pension accruals 73 75
Change in deferred taxes 4,943 -1,047
Change in net working capital* -16,462 -3,474
Net cash flow from operating activities -1,788 985
Change in property, plant & equipment -528 -253
Change in other financial assets -452 3,469
Change in intangible assets -32,153 -5,010
Change in other long-term liabilities 8,907 -1,949
Long-term bank loans 12,186 -2,726
Change in minority interests -364 -630
Capital increase, capital reduction 320 179
Currency translation -1,552 292
Net change in cash & liquid funds -15,424 -5,643
Cash & cash equivalents at beginning of period 36,952 56,216
Cash & cash equivalents at end of period 21,528 50,573

* including long-term accounts receivable

STATEMENT OF CHANGES IN CONSOLIDATED EQUITY AS OF MARCH 31, 2008 AND 2007 (IFRS UNAUDITED)

Subscribed Capital Other Acculated Minority Equity
capital reserve reserves profit interests
k€ k€ k€ k€ k€ k€
Balance on December 31, 2007 36,946 47,503 -4,428 207,197 6,048 293,266
Minority interests -364 -364
Capital increase 0
Repayment of share capital 0
Share-based payment 320 320
Exchange rate related differences -1,552 -1,552
Net income 257 -218 39
Balance on March 31, 2008 36,946 47,823 -5,980 207,454 5,466 291,709
For comparison the figures of the
same period the year before:
Balance on December 31, 2006 34,942 29,879 -2,514 205,538 6,899 274,744
Minority interests -630 -630
Capital increase 0
Repayment of share capital 0
Share-based payment 179 179
Exchange rate related differences 292 292
Net income 744 744
Balance on March 31, 2007 34,942 30,058 -2,222 206,282 6,269 275,329

Notes to the interim financial statements (unaudited)

The SINGULUS TECHNOLOGIES Aktiengesellschaft (hereinafter also "SINGULUS" or the "Company") is a stock-listed corporate entity headquartered in Germany. The presented consolidated statements for the interim reporting of the SINGULUS TECHNOLOGIES AG and its subsidiaries (the "Group") for the 1st quarter of the business year 2008 were approved for publication as per resolution of the Executive Board dated May 7, 2008.

Accounting and valuation principles

The preparation of the abbreviated consolidated interim financial statements for the period from January 1 to March 31, 2008 was conducted in accordance with IAS 34 "Interim Financial Reporting". The abbreviated consolidated interim statements do not include all of the notes and information required for the full-year statements and should be read in connection with the consolidated financial statement as of December 31, 2007.

The preparation of the annual financial statements in accordance with IAS 34 requires estimates and assumptions by the management, which had an impact on the amounts of the stated assets, liabilities, income, expenses as well as contingent liabilities. These assumptions and estimates mainly concern the Group-uniform determination of expected useful lives, the write-offs of assets, the valuation of provisions, the realization of accounts receivable, the determination of realizable residual values of inventories as well as the determination of realizable future tax relieves. In individual cases, the actual values might differ from the assumptions and estimates made. Changes are recognized at the time of finding affecting the profit or loss.

The accounting and valuation methods applied to the consolidated financial statements for the interim reporting are in accordance with the methods applied to the consolidated financial statements for the business year 2007. A detailed description of the accounting principles was published in the Appendix to the consolidated financial statements of our annual report 2007.

Scope of consolidation

In addition to the SINGULUS TECHNOLOGIES AG, the consolidated financial statements include all companies under the legal of factual control of the company. In the interim financial statements as of March 31, 2008, in addition to the SINGULUS TECHNOLOGIES AG, in total 6 domestic and 15 international subsidiaries were included. No other companies were included in the scope of consolidation after December 31, 2007. Since December 31, 2007 no company has been excluded from the scope of consolidation.

Accounts receivable

As of March 31, 2008 the accounts receivable were split as follows:

March 31, 2008 Dec. 31,2007
k€ k€
Accounts receivable
short-term 72,652 77,886
Accounts receivable
long-term 10,748 10,924
Less write-offs -10,621 -10,250
72,779 78,560

Intangible assets

Capitalized development expenses, goodwill as well as concessions, industrial property rights and other intangible assets are included as intangible assets. The capitalized development expenses amounted to € 44.9 million (December 31, 2007: 48.3 million). The capital expenditure for development efforts amounted to € 3.0 million in the 1st quarter of 2008 (1st quarter 2007: € 2.9 million). Scheduled depreciation on activated development costs totaled € 4.0 million (1st quarter 2007: € 3.8 million). Furthermore in the period under review extraordinary depreciation amounting to € 2.5 million were accounted to activated development costs.

Tangible assets

During the first three months of 2008 € 0,5 million were invested in property, plant and equipment (1st quarter 2007: € 0,3 million). During the same period depreciation amounted to € 0,7 million (1st quarter 2007: € 1,4 million).

Investment properties

Pursuant to IAS 40 SINGULUS values investment properties at acquisition and production costs. The present values resulting from an inflation-adjusted projection mainly correspond to the acquisition and production costs. This concerns industrial land and buildings, which are leased. As of March 31, 2008 book values in the amount of € 8.9 million were reclassified from property, plant & equipment to investment properties. Straight-line depreciation is applied for a useful life ranging from 4 to 40 years.

Liabilities to banks

With effect from December 14, 2007 a syndicated credit line in the amount of € 60.0 million was negotiated. The credit facilities include a loan in the amount of € 25.0 million and a revolving credit facility with a volume of € 35.0 million with an overall duration of five years. The credit line is mainly used to refinance the acquisition of 51 % of the shares of

STANGL as well as for the financing of current operations. The interest rate of the credit commitment is adjusted quarterly on the basis of the "3-months EURIBOR". To hedge the interest rate risk a corresponding interest hedge in the amount of the loan was concluded in February 2008. From this credit facility € 20.0 million in total was used as per March 31, 2008. As of March 31, 2008 bank liabilities from the payout of loans totaled € 28.7 million (December 31, 2007: € 22.1 million). In addition, liabilities to banks resulting from discounting bills amounted to € 0.2 million (December 31, 2007: € 0.2 million).

Contingent liabilities and other financial obligations

The contingent liabilities and other financial obligations not included in the consolidated financial statements amount to € 8.6 million (previous year: € 11.6 million) and mainly concern obligations to take back equipment sold (€ 2.4 million) as well as bank guarantees for received prepayments (€ 5.1 million). In case of these obligations materializing, the obligations to take back lines sold to leasing companies are set against the income from the sale of these lines taken back. Management does not have any further information indicating a substantial adverse impact on business activities, the financial situation or the financial results of the company.

Geographic sales information Germany Remaining North and Asia Africa Australia
as of March 31, 2008 k€ Europe
k€
South America
k€
k€ k€ k€
Sales by
country of origin 22,740 2,656 2,674 2,214 0 0
Country of destination 11,318 7,172 4,813 6,371 610 0
Geographic sales information Germany Remaining North and Asia Africa Australia
as of March 31, 2007 Europe South America
k€ k€ k€ k€ k€ k€
Sales by
country of origin 35,961 5,956 2,690 5,190 0 0
Country of destination 3,175 20,523 11,695 12,998 1,406 0

Sales deductions and individual selling expenses

Sales deductions include cash discounts granted. Individual selling expenses mainly include expenses for packaging, freight and commissions.

General administrative expenses

General administrative expenses include expenses for Management, Human Resources, the Finance department and the resulting office and car fleet expenses. Furthermore, it includes recurring IT expenses, legal and consulting fees, the Investor Relations department, the Annual General Meeting and the expenses for the annual financial statements.

Research and development expenses

In addition to the research expenses and the non-capitalized development expenses, the research and development expenses of the 1st quarter of 2008 also include scheduled amortization of capitalized development expenses in the amount of € 4.0 million (previous year: € 3.8 million).

Financial income and expenses

The interest income/expenses are composed as follows:

March 31, 2008 Dec. 31, 2007
k€ k€
Interest income from long-term
accounts receivable 231 363
Interest income from time deposits
and call deposits 127 292
Other interest income 9 16
Interest expenses -1,770 -265
-1,403 406

The interest expenses include the compounding of the put / call option from the acquisition of STANGL and amount to € 0,9 million.

Earnings per share

The earnings per share were calculated on the basis of IAS 33. The average number of shares outstanding amounted to 36,946,407 shares in 2008 (previous year: 34,941,929 shares). The earnings after taxes with respect to shareholders of the parent company amount to € 0.3 million in the first quarter 2008 (previous year: € 0.6 million). The earnings per share (undiluted) for the 1st quarter 2008 therefore amount to € 0.01 (1st quarter 2007: € 0.02). In August 2007 stock options were issued to the members of the Executive Board and to senior management. In this connection, the earnings per share in the business year 2008 are diluted by 472,230 shares. Furthermore, in connection with the acquisition of STANGL in September 2007 2,004,478 shares were issued. The earnings per share (diluted) for the 1st quarter 2008 therefore amount to € 0.01 (1st quarter 2007: € 0.02).

Events after the balance sheet date

There were no events of particular importance after the end of the quarter.

Shareholdings of Executive and Supervisory Board members

As of the balance sheet date, the members of the Executive and Supervisory Board of the SINGULUS TECHNOLOGIES AG held the following number of shares, convertible bonds and stock options:

Shareholdings as of March 31, 2007:
shares with a nominal value of € 1:
Stefan A. Baustert, CEO 2,000
Dr.-Ing. Anton Pawlakowitsch,
Member of the Board 2,500
VVG Roland Lacher KG 394,472
William Slee 49,520
Thomas Geitner 1,500

Granted stock options (€ 1 nominal value) through convertible and stock options as of March 31, 2007: Stefan A. Baustert, CEO 320,000 Dr.-Ing. Anton Pawlakowitsch, CTO 80,000 Employees 1,034,980

Kahl am Main, in May 2008 The Executive Board

Company Calendar 2008

May 08, 2008 Q1/2008 Report
June 06, 2008 Annual Shareholders Meeting
August 05, 2008 Q2/2008 Report
November 05, 2008 Q3/2008 Report

Consolidated key figures (three month cumulated) pursuant to IFRS, status March 31

2005 2006 2007 2008
IFRS IFRS IFRS IFRS
Sales million € 50.4 48.8 49.8 30.3
Order intake million € 34.3 107.5* 60.4 84.4
Order backlog (March 31) million € 40.6 119.5 92.1 109.9
EBIT million € 0.9 7.0 0.2 0.3
EBITDA million € 4.5 18.8 4.9 9.9
Earnings before taxes million € 1.3 7.2 0.6 -1.1
Net profit million € 0.8 9.6 0.7 0.0
Operating cash flow million € -4.1 3.1 1.0 -1.8
Shareholders' equity million € 250.2 273.0 275.3 291.7
Balance sheet total million € 380.0 433.0 389.5 450.3
Research & Development million € 4.4 5.0 4.8 3.9
Employees (March 31) 692 1,240 699 758
Weighted average shares 35,341,987 34,941,929 34,941,929 36,946,407
outstanding, basic
Earnings per share, basic 0.02 0.02 0.02 0.01

* incl. € 42.6 million from HamaTech takeover

Future-oriented statements and forecasts

This report contains future-oriented statements based on the current expectations, assessments and forecasts of the Executive Board as well as on the currently available information to them. Known as well as unknown risks, uncertainties and impacts could cause the actual results, the financial situation or the development to differ from the statements made in this report.We assume no obligation to update the future-oriented statements made in this report.

SINGULUS TECHNOLOGIES AG Mail: [email protected]

Hanauer Landstraße 103 D-63796 Kahl Phone: +49-6188-440-0 Fax : +49-6188-440-110 Investor Relations: Maren Schuster Phone: +49-6188-440-612 Fax : +49-6188-440-110 Web: www.singulus.de

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