Singulus sees revenue grow in 2017

In the financial year 2017, Singulus Technologies AG was able to increase its sales by almost one third to €91.2 million. The operating result (EBIT) was significantly improved, although it remained negative at €1.2 million (2016: €-17.4 million euros). These results are in line with the forecasts previously released by the company.

EBIDTA, meanwhile, has swung from a loss of €14.1 million, to a profit of €0.7 million. The increased capacity utilization, above all in the solar segment, contributed to the positive development, the company said.

Singulus was able to increase its liquidity last year by €8.7 million to €27.2 million. The order backlog of €106.7 million at the end of 2017 was at about the same level of the previous year.

However, incoming orders were significantly lower at €88 million last year. Further contracts with a total volume of more than €30 million have already been signed, for which the plant manufacturer expects advance payments “in the short term”.

Singulus CEO, Stefan Rinck expects business growth to continue in the current year. Among other things, the company continues to work on a major project it started in 2016. At that time, China National Building Materials (CNBM) ordered equipment for the construction of two CIGS module plants in China for about €110 million.

The Chinese state-owned company is now also a minority shareholder in Singulus. The contract implies that equipment for the plant in Meishan, which would be delivered this year, is currently being produced. Accordingly, Singulus expects further down payments.

Forecast for 2018

For the current year, the Executive Board expects a further significant increase in sales. Turnover is expected to be in the “low three-digit million range”. EBIT, meanwhile, should be in the positive mid single-digit million range, the company stated.