SINGULUS TECHNOLOGIES reduces revenue forecast - operating result for 2017 of between EUR + 2 million and EUR - 3 million expected
Announcement of Insider Information Pursuant to Art. 17 MAR
SINGULUS TECHNOLOGIES reduces revenue forecast - operating result for 2017 of between EUR + 2 million and EUR - 3 million expected Kahl am Main, 26 09 2017 - SINGULUS TECHNOLOGIES AG (SINGULUS TECHNOLOGIES) is adjusting the IFRS forecast for the current financial year of 2017 announced at the start of the year.
In its IFRS planning, SINGULUS TECHNOLOGIES anticipated a doubling of revenue for the year in progress compared with the previous year (EUR 68.8 million). The forecast for the 2017 financial year was based principally on the assumption that the contractual supply agreements within the order backlog would for the most part be fulfilled on time in the course of the financial year. As already disclosed in the report on the first half of 2017, the key condition was that the individual contractually agreed payments on account would be received according to schedule.
The client in the large-scale project for CIGS production systems has notified SINGULUS TECHNOLOGIES that the outstanding payment on account for the next items of machinery is due to be made at the end of the year. The company therefore now no longer expects to receive the outstanding payments on account from the Chinese client for its next location in a manner that will allow the timely commencement of the work early enough to achieve the previous revenue and earnings forecast by the end of the year.
Revenue for the year in progress is now expected to lie within the range of EUR 90 to 100 million. This nevertheless represents a substantial revenue increase on the previous year (EUR 68.8 million).
Revenue realization also affects the earnings figures for the year in progress. Thanks to an improved cost structure and a healthier gross margin, SINGULUS TECHNOLOGIES has succeeded in bringing the profitability threshold down further. With the newly forecast revenue range, the operating profit (EBIT) is expected to come in at between EUR +2 and EUR -3 million.
The company will announce a new forecast for the 2018 financial year along with publication of the annual financial statements for 2017.
SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103, D-63796 Kahl/Main, WKN A1681X / ISIN DE000A1681X5 Contact: Maren Schuster, Investor Relations, Tel.: + 49 (0)160 9609 0279 Bernhard Krause, Corporate Communications, Tel.: + 49 (0)170 9202924 e-mail: email@example.com
26-Sep-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: 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: firstname.lastname@example.org Internet: www.singulus.de ISIN: DE000A1681X5, DE000A2AA5H5 WKN: A1681X, A2AA5H Listed: Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News Service
613223 26-Sep-2017 CET/CEST