Germanys Singulus, which manufactures tooling equipment for the solar and optical disc industries, has cut its forecast for the business year 2015 on the back of lower-than expected order volumes in its optical disc segment.
The companys executive board is no longer confident that it is probable for new orders of the Singulus BLULINE II to be received before the end of the year, and this lack of expected new orders has significantly impacted earnings expectations.
In contrast, sales in across Singulus solar division are projected to enjoy a "sharp increase", doubling on the target achieved in 2014, the company has revealed. First half sales reported by the company in August revealed an order intake of 73.1 million ($81.39 million), which itself was a $55.34 million increase on the same period in 2014.
The order backlog for CIGS projects booked during H1 2015 exceeded 57 million, which the company is confident can be built upon over the second half of the year.
"In the past couple of weeks we were able to win additional key orders in the area of wet-chemical for the application of heterojunction technology," said Singulus CEO Dr. Stefan Rinck. "Also in the CIGS area we are working on larger projects. Overall, we thus expect a positive development for the solar segment."
Singuluss noteholders are due to meet today, October 8, to discuss the appointment of a joint representative of the noteholders and a resolution of matters pertaining to its ongoing repositioning and debt restructuring.