Singulus Technologies AG

SNG

Equity

ISIN DE000A1681X5 / Valor 32778041

Xetra (2026-10-08)

EUR 10.05-1.47%

Singulus Technologies AG
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About company

Singulus Technologies AG is a German engineering and equipment manufacturer that develops, builds and services production systems for thin-film and vacuum-coating processes used across electronics and industrial markets. The company supplies sputtering, CVD/PECVD and related vacuum-coating plants and process technology for customers in semiconductor and microelectronics, optical media and optics, photovoltaic and specialty surface-coating applications, together with associated process development, commissioning and aftermarket support. Operating internationally from its engineering base in Germany, Singulus targets industrial manufacturers and OEMs that require turn‑key coating lines and precision production equipment rather than end-user products.

Summarized from source with an LLMView SourceSector: Industrials

Revenue and margins

H1 2026 revenue €45.3m vs €31.3m a year earlier; gross margin improved to 33.5% (H1 2025: 31.9%). Q2 2026 revenue €23.5m (Q2 2025: €14.9m) with a Q2 gross margin of 30.9% (Q2 2025: 29.1%).

Profitability

H1 2026 EBIT positive at €2.7m (vs -€1.3m prior year) and net profit €1.3m. Q2 showed modest progress with EBIT €0.5m and a small quarterly loss on the profit line (-€0.2m reported for the quarter).

Cash, liquidity and financing actions

Cash and cash equivalents rose slightly to €6.8m (Dec 31, 2025: €6.2m). The company repaid the €12.0m corporate bond early (paid at 105% + accrued interest) and settled other loans (~€4.0m senior secured and ~€9.0m unsecured). New long-term financing includes a five‑year loan (~€29.0m) and a secured convertible bond issuance of €3.558m (5% interest, convertible into up to 1.8m shares).

Orders and backlog

New orders in H1 2026: €37.9m (H1 2025: €21.1m). Q2 new orders €9.1m (Q2 2025: €14.7m). Order backlog at June 30, 2026: €55.1m (prior-year comparable: €67.2m).

Segment performance

Solar drove the recovery: H1 2026 Solar revenue €29.2m (H1 2025: €9.0m). Semiconductor H1 revenue €9.4m (H1 2025: €12.1m). Life Science H1 revenue €6.7m (H1 2025: €10.2m). Company highlighted new TIMARIS orders, MicroLED/MRAM work and strategic solar partnership.

Balance sheet and equity

Total assets €64.7m (Dec 31, 2025: €45.2m). Long‑term liabilities increased to €50.4m (Dec 31, 2025: €28.0m) reflecting new financing; Group equity remains negative at -€62.6m but improved slightly from -€64.7m at year end.

Cash flow and operating liquidity

Operating cash flow was negative at -€4.0m in H1 2026 (driven by project-related working capital build due to increased receivables and contract work); investing cash flow -€1.4m; financing cash flow +€6.1m, leaving a small net increase in cash.

One‑off personnel expense and R&D

H1 recorded an exceptional personnel expense of €1.8m from valuation of phantom stock (driven by share price increase from €1.34 to €9.40). R&D spend totaled €3.4m in H1 2026, up from H1 2025.

Corporate actions and strategic items

SIGNIFICANT: strategic cooperation with a leading global solar technology company (includes refinancing elements), acquisition of MASS GmbH business operations to expand PCB/thermal processing capabilities, and issuance of a secured convertible bond tied to the strategic partner.

Outlook and risks

The company expects revenue of approx. €83m for FY 2026 and positive EBIT in the low single-digit millions, driven mainly by the Solar segment. Key risks remain project concentration, timing of customer payments, market/cyclical exposure and remaining financing/ liquidity sensitivities despite improved capital structure.

Summarized from source with an LLMView Source

Key figures

528%1Y

457%3Y

169%5Y

Performance

87.2%1Y

85.4%3Y

86.4%5Y

Volatility