Singulus Technologies Aktiengesellschaft: SINGULUS TECHNOLOGIES reports financial results for the first nine months of 2020

Kahl am Main (pta008/13.11.2020/08:00 UTC+1) Press release

SINGULUS TECHNOLOGIES reports financial results for the first nine months of 2020

* COVID-19 pandemic burdens sales and earnings
* Several projects in the order pipeline delayed
* Order backlog at Eur 75.3 million as of September 30, 2020
* Important order for the Semiconductor division received in October
* Signing of orders after the reporting period
* Start of production for machines at Xuzhou site
* Participation at CIIE in Shanghai

Kahl am Main, November 13, 2020 - The global impact of the COVID-19 pandemic is felt in nearly all of the segments of the SINGULUS TECHNOLOGIES AG (SINGULUS TECHNOLOGIES) and the current "second wave" will continue to have an effect on the business developments in the coming weeks and months. Accordingly, the Executive Board already initiated various programs in spring to cut costs. These concern both personnel and non-personnel expenses. Since April 1, 2020 the company has been applying the instrument of short-time work at the two German sites in Kahl am Main and in Fürstenfeldbruck and will continue to apply short-time work in some departments in the coming months.

Dr.-Ing. Stefan Rinck, Chief Executive Officer of the SINGULUS TECHNOLOGIES AG, remarks: "The negative impacts have resulted in delays for nearly all of the projects in our company. Investment decisions for the purchase of new machines and systems were postponed either to the end of the current year or to the largest extent to the coming year."

During the first nine months of the current business year SINGULUS TECHNOLOGIES achieved sales in the amount of Eur 21.9 million (previous year: Eur 61.5 million). Sales in the third quarter came to Eur 5.7 million (previous year: Eur 17.4 million). The production of the first machines for the manufacturing plant for CIGS solar modules at the Xuzhou site have started in October after the completion of the reporting period. The EBIT in the first nine months stood at Eur -20.6 million (previous year: Eur 0.3 million). In the third quarter the EBIT came to Eur -6.3 million (previous year: Eur -1.3 million). As of September 30, 2020, the liquidity position of SINGULUS TECHNOLOGIES amounted to Eur 12.5 million. During the first nine months of the business year 2020 the order intake came to Eur 70.9 million, significantly above the prior-year level of Eur 33.9 million in 2019. The order intake in the quarter under review amounted to Eur 4.0 million (previous year: Eur 6.8 million). The order backlog amounted to Eur 75.3 million as of September 30, 2020 (previous year: Eur 38.5 million).

The headcount within the SINGULUS TECHNOLOGIES Group of 355 employees as of September 30, 2019 was nearly unchanged (December 31, 2019: 351 employees).

After the completion of the reporting period, additional new orders were received. In addition to orders for the Solar division, in particular the order for the Semiconductor segments has to be mentioned. In October, SINGULUS TECHNOLOGIES received the order for a large production machine of the TIMARIS type for the vacuum coating of 300 mm wafers.

"We are very pleased to have won an additional, internationally leading semiconductor producer for our TIMARIS vacuum coating platform. This underscores our competence in process development as well as the reliability and output of our machines in the environment of a modern factory for 300 mm semiconductor wafers", comments Dr. Stefan Rinck.

The order in a mid-single-digit range was placed by one of the largest semiconductor producers in the world and is intended for the mass production of highly-integrated inductors.

SINGULUS TECHNOLOGIES took the opportunity to present its products in the areas Solar, Semiconductor and Decorative Coatings at the China International Import Expo (CIIE), which concluded this week's Tuesday and which as the first import fair forms an excellent platform on a national scale. SINGULUS TECHNOLOGIES took this opportunity with Executive Board presence at the joint booth with the customer CNBM to further increase awareness and hold discussions about upcoming projects.

Outlook
Due to the current situation SINGULUS TECHNOLOGIES is unable to specify the impacts of the COVID-19 pandemic with sufficient accuracy. The already existing impacts of the COVID-19 pandemic on all of the company's divisions are substantial. The Executive Board expects that the short-time work will be continued until the end of the year and also further during the beginning of 2021. Accordingly, the Executive Board currently still refrains from providing an outlook for the key financial results for the business year 2020.

However, it can already be foreseen today that in the fourth quarter of the current financial year there will probably only be a slight improvement in operational business activity.

Consolidated key figures SINGULUS TECHNOLOGIES pursuant to IFRS (unaudited)

		2019	2020
Sales (gross)	in million Eur	61.5	21.9
Order intake	in million Eur	33.9	70.9
Order backlog (Sept. 30)	in million Eur	38.5	75.3
EBIT	in million Eur	0.3	-20.6
EBITDA	in million Eur	3.3	-17.1
Earnings before taxes	in million Eur	-1.3	-22.2
Net profit/loss	in million Eur	-1.9	-21.4
Operating cash flow	in million Eur	-6.3	3.6
Shareholders' equity	in million Eur	18.3	-14.6
Balance sheet total	in million Eur	93.3	75.7
Research & development expenses	in million Eur	9.9	8.1
Employees (Sept. 30)		358	355
Weighted average shares outstanding, basic		8,896,527	8,896,527
Earnings per share, basic	Eur	-0.21	-2.41

SINGULUS TECHNOLOGIES - Innovationen für neue Technologien

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 as well as consumer goods and data storage sectors.
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 9202 924
Email: bernhard.krause@singulus.de

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