German PV equipment supplier Singulus Technologies AG has posted preliminary financial figures for the third quarter of 2018, in which it achieved revenue of €44.6 million. This represents a significant improvement over the previous quarter, when its revenue reached €29.1 million.
This puts the company’s revenue figures for the first nine months of 2018 at €91 million, a big increase over 2017, when it had reached €63.6 million by the end of the third quarter. Operating result (EBIT) was also significantly improved QoQ, at €5.2 million. EBIT for the year so far also improved, at €4 million, ten times 2017’s €0.4 million.
As of the 30th September 2018, Singulus states it has an estimated order backlog of €90.3 million (2017: €99.7 million).
The German equipment supplier further stated that it expects this positive course to continue into the fourth quarter. The company confirmed its forecast for the full year 2018, stating that it expects annual sales in the low triple digit million range. This should lead to a mid-single digit EBIT figure for the full year.
In September, China National Building Materials – A state owned enterprise in the process of building out large capacities for CIGS modules – acquired a 13.11 share in Singulus Technologies AG, and according to Singulus, CNBM will take a further 3.64% of the shares, “in a timely manner after the occurrence of defined conditions precedent.”
Singulus has delivered equipment for CNBM’s factories in China, the first of which came online in Anhui Province in December 2017. In the medium term, CNBM has plans for up to 6 GW of production capacity for CIGS modules, part of which is already under construction.