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SINGULUS TECHNOLOGIES AG, DE000A1681X5

SINGULUS TECHNOLOGIES AG, DE000A1681X5

09.09.2019 - 07:32:19

SINGULUS TECHNOLOGIES AG: Order Intake Further Delayed To Fourth Quarter 2019 - Redemption of the annual forecast for sales and earnings

Press Release

SINGULUS TECHNOLOGIES AG: Order Intake Further Delayed To Fourth Quarter 2019 - Redemption of the annual forecast for sales and earnings

- Order intake from CNBM still projected for fourth quarter

- Sales and earnings targets for 2019 not achievable anymore, however

- Positive statements about the further development of CIGS projects in China

Kahl am Main, September 9, 2019 -The Chinese state-owned enterprise CNBM Group, Beijing, informed the Executive Board of the SINGULUS TECHNOLOGIES AG during just recently finished talks in Shanghai that the signing of the contracts for the further expansion of the production capacities for CIGS thin-film solar modules will presumably only take place in the fourth quarter 2019. Together with the expected signing of the contracts a respective prepayment will become due and, according to information provided, a timely realization of the subsequent project is expected.

With the conclusion of the first expansion stage, the CIGS factory set up by CNBM in Bengbu, China, is able to achieve a monthly output as projected. CNBM made favorable statements with respect to the additional expansion of the CIGS activities in China. The factory in Meishan is expected to be commissioned in the next couple of months as scheduled. For the next CIGS factories in China the customer still assumes a set-up as planned. On the basis of initial, on-going discussions, additional demand for identical factories for CIGS solar modules in other Asian countries is expected.

In summary, the Executive Board sees the previous statements with regards to the CIGS projects in China confirmed. Unfortunately, there are some temporary delays. Despite the overall favorable outlook, the further delayed placement of orders into the fourth quarter 2019 results in the fact that SINGULUS TECHNOLOGIES will not be able to achieve the sales and earnings (EBIT) targets communicated for the business year 2019.

SINGULUS TECHNOLOGIES - Innovations for New Technologies SINGULUS TECHNOLOGIES develops and assembles innovative machines and systems for efficient and resource-saving production processes, which are used worldwide in the solar, semiconductor, medical technology, consumer goods and optical disc sectors.

The company's core competencies include various processes of coating technology, surface treatment and wet-chemical and thermal production processes.

SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103, D-63796 Kahl/Main, WKN A1681X / ISIN DE000A1681X5 Maren Schuster, Investor Relations, Tel.: + 49 (0) 160 9609 0279 Bernhard Krause, Corporate Communications, Tel.: + 49 (0) 1709202924 Email: bernhard.krause@singulus.de

09.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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 Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 870175   End of News DGAP News Service

870175  09.09.2019 

@ dgap.de