Singulus Technologies AG
SINGULUS TECHNOLOGIES announces key figures for Q1 2016
DGAP-News: SINGULUS TECHNOLOGIES AG / Key word(s): Interim Report Press Release SINGULUS TECHNOLOGIES announces key figures for Q1 2016 – Sales and EBIT at low levels – Implementation of the resolved bond restructuring initiated – Available liquidity of EUR 12.8 million as of March 31, 2016 – Slightly negative EBIT expected for 2016 – Extensive Solar orders still in negotiations Kahl am Main, 19. May 2016 – In the quarter under review, due to the lower order backlog at year-end, sales in the SINGULUS TECHNOLOGIES Group amounted to only EUR 14.1 million, which was slightly higher than the prior-year level of EUR 12.6 million, however. The earnings before interest and taxes (EBIT) came to EUR -5.8 million and nearly reached the level of the previous year of EUR -5.9 million. The order intake in the 1st quarter 2016 amounted to EUR 10.4 million (previous year: EUR 62.8 million). The order backlog amounted to EUR 22.9 million as of March 31, 2016 (previous year: EUR 64.2 million). The order intake in the prior-year quarter was impacted by major orders for the delivery of vacuum coating machines as well as by an order for the delivery of process machines of the SILEX II type. In the 1st quarter 2016 the extensive orders for production machines for CIGS thin-film solar modules currently in negotiations could not yet be concluded. The amount of cash and cash equivalents declined by EUR 6.2 million in the 1st quarter of 2016 to EUR 12.8 million. Implementation of the resolved bond restructuring The resolutions passed by the bondholders meeting with respect to agenda items 4 to 7 as well as 12 and 13 have already been concluded at the custodian Clearstream Banking AG. Accordingly, the respite of the interest payment under the SINGULUS bond until March 23, 2017 and the temporary waiver of certain termination rights have become effective. The implementation of the resolution with respect to the exchange of the SINGULUS bond into purchase rights (agenda item 11) as well as the corporate actions resolved by the Extraordinary General Meeting will commence during the course of the year. A capital increase in kind by EUR 5,760,000.00 through the issuance of 5,760,000 new bearer shares with a nominal value of EUR 1.00 each to the exclusion of the subscription rights of the current shareholders should be implemented by the beginning of August of this year. The subject of the payment in kind are the entire claims from the certificates of indebtedness arising from the SINGULUS bond. In addition to the issuance of new shares, the company will issue a new secured bond with a nominal volume in the amount of EUR 12 million as further consideration. In order to enable both the current and future shareholders to participate in the ordinary annual general meeting, the meeting will be postponed from June 7, 2016 to August 31, 2016. Outlook for the Business Year 2016 The forecast for the full-year targets for 2016 is mainly based on the assumptions that the Solar market will continue to perform favorably, the extensive orders for production machines for thin-film solar modules in discussion will be received in the short term and the associated sales can be realized as planned.
Actual Corporate Calendar 2016 May May 19 Q1/2016 Report SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103, D-63796 Kahl/Main, ISIN: DE0007238909, WKN: 723890 Contact:
2016-05-19 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | SINGULUS TECHNOLOGIES AG | |
Hanauer Landstrasse 103 | ||
63796 Kahl am Main | ||
Germany | ||
Phone: | +49 (0)1709202924 | |
Fax: | +49 (0)6188 440-110 | |
E-mail: | bernhard.krause@singulus.de | |
Internet: | www.singulus.de | |
ISIN: | DE0007238909, DE000A1MASJ4 | |
WKN: | 723890, A1MASJ | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart | |
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