German PV equipment manufacturer Singulus Technologies was able to increase turnover, profits and order intake in the first quarter of 2017.
The company achieved sales of €26.1 million ($28.6 million) for the period, up from €14.1 million in the same quarter of 2016. Furthermore, Singulus has improved its operating result from a loss of €5.8 million in the first three months of last year to a profit of €1.4 million in the latest quarter. Ebitda also swung from a loss of €5.2 million to a profit of €1.9 million.
Order intake at the end of March 2017 was €92.9 million ($101.9 million), a considerable improvement over the €22.9 million the company registered a year earlier. Singulus stressed that current order intake mainly includes machines for the production of CIGS solar modules for a subsidiary of the Chinese state-owned enterprise China National Building Materials (CNBM).
Looking forward, Singulus said it expects to double sales in the current fiscal year, while Ebit is forecast to come in at a “low single-digit million level”.
“In the current business year in the Solar division,” the company stated, “sales are generated from the construction and commissioning of production machines, which are primarily based on a few major project orders. This particularly applies to orders for investments in production lines for thin-film solar modules on the basis of CIGS. Moreover, orders for production machines for crystalline high-performance cells (e. g. heterojunction cells) are expected. The forecast for the annual targets for 2017 mainly rests on the assumption that the solar market will develop favorably in both the CIGS segment as well as the wet-chemical division.”