Singulus: Fiscal 3Q11 Financial Results

The SINGULUS TECHNOLOGIES AG (SINGULUS) generated sales of € 121.8 million in the first nine months of the current business year and therefore exceeds the total sales in 2010 of € 120.1 million.

This corresponds to an increase of around 50.4 % compared to previous year period. Sales of € 57.2 million in the 3rd quarter 2011 (previous year: € 31.6 million) were also significantly higher (81.0 %) than the prior-year level. This improvement is mainly based on higher sales within the Solar segment (+€ 28.8 million) and the Optical Disc division (+€ 12.0 million). The Nano Deposition segment with sales of € 2.9 million remained at last year’s level.

The operating result (EBIT) in the first nine months 2011 amounted to € 6.3 million compared with -€ 13.1 million (before extraordinary charges) in the first nine months of 2010. In the period under review the EBITDA totaled € 14.7 million. Due to the sharp pick-up in demand for Blu-ray machines sales in the Optical Disc segment sales continued to rise. The activities in the Solar segment were impacted by market uncertainties in the past couple of months. However, the business volume increased from 16.7 % to 34.7 % of total sales. SINGULUS generated a positive result on an EBITDA basis in the Solar segment in the first nine months.

In the first nine months of the business year 2011 SINGULUS was able to improve the gross margin by 7.8 percentage points from 22.7 % to 30.5 %. In particular in the 3rd quarter 2011 the gross margin contributed strongly to the positive operating overall results with a sharp increase to 33.9 % (previous year: 12.9 %).

The order intake in the first nine months of 2011 amounted to € 137.0 million (previous year: € 97.3 million). This corresponds to an increase of 40.8 % compared with the same period one year ago. The order backlog amounted to € 50.8 million as of September 30, 2011 (previous year: € 43.7 million).

The number of employees in the SINGULUS Group rose slightly from 454 employees as of September 30, 2010 to 465 employees as of September 30, 2011. During the period under review 461 employees were employed on average in the group of companies (previous year: 492 employees).

Outlook
The executive board confirms its sales forecast of more than € 160 million published on May 26, 2011. Following three years with negative earnings, the company is expected to post a positive result for the full-year 2011.

SINGULUS’ goal is to attain a position in the silicon and thin-film solar technology as a machine supplier as well as a development partner for new cell concepts and to continue to maintain the market leadership in the Optical Disc segment for dual-layer Blu-ray disc production equipment.

SINGULUS possesses know-how in the manufacturing of machines for the vacuum coating of different materials. For example, SINGULUS applies this technology for its replication lines for optical memory media as well as for machines for the coating of silicon solar cells. SINGULUS intends to expand this know-how in the area of the development of vacuum coating machines for various areas of applications in the future.

The business activities in the work area nano-technology were strengthened in the course of the growing market for MRAM semi-conductor technology. In addition, the company reviews other sectors and work areas, where new market segments can be developed on the basis of the present know-how in the area of vacuum coating.