Singulus has reported revenue of €17.3 million for the first quarter of 2018. This represents a significant drop from the same period in 2017, when revenue reached €26.1 million. Other numbers paint an even worse picture for the tool maker – EBIT for Q1 2018 stood at minus €1.6 million, and EBITDA at minus €1.2 million, compared with €1.4 million and €1.9 million respectively for the first quarter of 2017. The company’s gross margin also fell to 27.1%, from 30.1% in Q1 2017.
However, Singulus points to its high order backlog – €125.5 million as of March 31st 2019, up from €92.9 million the previous year. Order intake in Q1 2018 reached €36.1 million, well above the previous year’s €9.1 million. The bulk of these orders are for CIGS production equipment.
According to Singulus, advance payments for delivery of production equipment, primarily from the solar segment, for a contract volume of more than €40 million, were received in the first months of 2018. Other deals in the semiconductor, decorative and medical applications are expected this year.
The company says it is planning for a significant sales increase year on year in 2018. The management board expects a significant revenue increase, to the low three-digit million range for the full year.
Accordingly, EBIT in 2018 is forecasted to close in the mid single-digit millions, with the solar segment, and in particular customers investing in production lines for CIGS thin-film modules, as the main drivers for this.