SINGULUS TECHNOLOGIES AG, DE000A1681X5

SINGULUS TECHNOLOGIES AG, DE000A1681X5

14.11.2016 - 08:04:25

SINGULUS TECHNOLOGIES reports financial results for the first nine months of 2016

Press release

SINGULUS TECHNOLOGIES reports financial results for the first nine months of 2016

- High order intake in the amount of EUR 144.1 million

- Order backlog at EUR 134.0 million as of September 30, 2016

- Sales still at low level in the period under review

- Operating cash flow positive at EUR 11.6 million

- Restructuring income results in positive net profit

- Bond restructuring and cash capital increase successfully concluded

Kahl am Main, November 14, 2016 - The SINGULUS TECHNOLOGIES AG (SINGULUS TECHNOLOGIES) reports an order intake of EUR 144.1 million for the first nine months of the business year 2016 (previous year: EUR 84.4 million) and is thus significantly above the level of the comparable prior-year period. In the quarter under review the order intake came to EUR 12.6 million (previous year: EUR 11.3 million). As of September 30, 2016, the order backlog amounted to EUR 134.0 million and is thus also considerably above the prior-year level as of September 30, 2015 amounting to EUR 40.7 million.

In the course of the business year 2016 SINGULUS TECHNOLOGIES was able to conclude a major order with the Chinese state-owned enterprise China National Building Materials (CNBM). This includes three contracts each for two subsidiaries of the Group for the delivery of machines for the set-up of two independent production sites for the manufacturing of CIGS solar modules. The order volume for the two production sites combined totals approximately EUR 110.0 million.

Due to the delay in the order placement and the resulting delayed project start, the financial key figures of the interim report of the SINGULUS TECHNOLOGIES AG as of September 30, 2016 were strongly impacted. In the third quarter, SINGULUS TECHNOLOGIES received the first prepayments for the three delivery contracts for the first of the two production sites. Accordingly, the production of the machines for this site has already been started and the first revenues will be realized during the further course of the business year. However, the major part of sales will only be realized in 2017.

During the first nine months of the current business year, SINGULUS TECHNOLOGIES recorded sales of EUR 36.7 million, which was thus below the level of the prior-year period in the amount of EUR 57.7 million. Sales in the third quarter came to EUR 12.1 million (previous year: EUR 28.5 million). The loss on an operating basis (EBIT) amounts to EUR -14.7 million for the first nine months of the current business year (previous year: EUR -13.9 million).

In connection with the bond restructuring, a restructuring income in the amount of EUR 41.2 million was realized in June 2016. The income was reported as financial income. From this a financial result of EUR 38.4 million was recognized. The operating cash flow was positive at EUR 11.6 million during the first nine months (previous year: EUR -8.7 million). The available liquid funds increased by EUR 8.5 million to EUR 27.5 million as of the end of the third quarter.

In the past couple of weeks, SINGULUS TECHNOLOGIES has to a large extent concluded the restructuring of the corporate bond due in 2017. All of the resolutions passed by the second bondholder meeting and the Extraordinary General Meeting were successfully implemented by the company.

Outlook for the business year 2016 The company had published its sales forecast in the amount of around EUR 68 to 78 million for the current business year on September 19, 2016. During the first nine months the company realized sales in the amount of EUR 36.7 million. The level of sales in the fourth quarter 2016 is mainly impacted by the pending realization of sales of two major solar projects. The corresponding machines were already constructed and delivered in prior periods. However, the assembly as well as the commissioning is still pending due to delays on the customer side. If the final realization of sales of these two projects is unexpectedly delayed to the following business year, the company will report on this in a timely manner. In addition, the delayed start of the large order from CNBM and the resulting deferral of parts of sales into the business year 2017 impacts the respective financial results.

For the fiscal year 2017, SINGULUS TECHNOLOGIES expects a continuing favorable trend of the demand for machinery for the production of solar cells. In this case, according to the company's assessment, this improvement could result in a doubling of the sales level achieved in the business year 2016.

Consolidated key figures SINGULUS pursuant to IFRS (unaudited)

Nine-month results 2015 2016 Sales (gross) in million EUR 57.7 36.7 Order intake in million EUR 84.4 144.1 Order backlog (Sept. 30) in million EUR 40.7 134.0 EBIT in million EUR -13.9 -14.7 EBITDA in million EUR -10.5 -12.8 Earnings before taxes in million EUR -17.4 23.7 Net profit/loss in million EUR -17.7 23.5 Employees (Sept. 30) 343 327 Earnings per share, basic EUR -57.55 10.11

3rd quarter 2015 2016 Sales (gross) in million EUR 28.5 12.1 Order intake in million EUR 11.3 12.6 EBIT in million EUR -4.1 -5.4 EBITDA in million EUR -2.5 -4.7 Earnings before taxes in million EUR -5.2 -5.6 Net profit/loss in million EUR -5.4 -5.7

SINGULUS TECHNOLOGIES - Innovations for New Technologies The SINGULUS TECHNOLOGIES AG is a supplier of machines and production equipment in the areas of vacuum thin-film and plasma coating, wet-chemical processes as well as thermal processing technologies.

SINGULUS TECHNOLOGIES is an engineering company, which develops and constructs machines for efficient and resource-conserving production processes. The company utilizes its know-how in automation and processing technology to not only serve the photovoltaic, semiconductor and optical disc industries with its innovative products but also additional, attractive work areas.

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) 1709202924 Email: bernhard.krause@singulus.de

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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: DE000A1681X5, DE000A2AA5H5 WKN: A1681X, A2AA5H Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service

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