Singulus Technologies AG

Latest Results (07.08.2024):

Sales Performance

During the third quarter of 2023, Singulus Technologies AG reported sales of €14.1 million, a significant decrease from the €23.3 million recorded in the same period the previous year. For the first nine months of 2023, total sales amounted to €55.8 million, down from €67.5 million in the previous year. The decline in sales is primarily attributed to delays in significant projects within the Solar division.

Earnings Before Interest and Taxes (EBIT)

Singulus Technologies AG's earnings before interest and taxes (EBIT) for the third quarter of 2023 were reported at €-4.9 million, a stark contrast to the €8.0 million EBIT in the same quarter of the previous year. For the first nine months of 2023, the EBIT stood at €-5.6 million, compared to €9.5 million in the previous year. The previous year's figures included a one-off income from the sale of property at the Fürstenfeldbruck site amounting to €9.7 million.

Order Intake and Backlog

In the first nine months of 2023, Singulus Technologies AG's order intake was €32.3 million, which is lower than the €46.2 million recorded in the same period of the previous year. The order backlog as of September 30, 2023, was €61.3 million, down from €93.4 million in 2022. The company is closely monitoring the development of order intake due to ongoing delays in project completions.

Liquidity Position

As of September 30, 2023, Singulus Technologies AG had unrestricted, available liquidity of €12.5 million, a decrease from €18.7 million as of December 31, 2022. Despite the receipt of further partial payments from key customers and the successful conclusion of a working capital credit line of €10.0 million, the company continues to classify the probability of liquidity risk occurrence as high.

Future Outlook

Singulus Technologies AG remains optimistic about substantial order intake in the Solar segment in the coming months, driven by global investment activities in the photovoltaics industry. The company also anticipates successful contract conclusions in the Semiconductor division by the end of the year, benefiting from the expansion of production capacities for magnetic, semiconductor-based sensors. However, the company acknowledges material uncertainties that could impact its ability to continue as a going concern.