Singulus expects to double sales in 2017 as order backlog increased over 300%

April 3, 2017
Facebook
Twitter
LinkedIn
Reddit
Email
The company allocated €12.3 million to R&D activities in 2016, up from €11.2 million in the previous year. The increase was driven by further CIGS and HJ technology development as well as P-type PERC (Passivate Emitter Rear Cell) technology.

Specialist PV manufacturing equipment supplier Singulus Technologies expects to double sales in 2017 after its new order backlog in 2016 reached €109.9 million, a 310% increase over the previous year. 

Singulus reported 2016 sales of €68.8 million, down from €83.7 million in 2015. The company said that doubling of sales guidance was based on expectations of follow-on orders with China-based CNBM (China National Building Materials), which owns German-based CIGS thin-film producer, AVANCIS, which is establishing production plants in China. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Singulus noted in its 2016 annual report that around 50% of the first phase order from CNBM had been shipped and assembled. The company expects further orders in the 300MW range from CNBM in 2017. Interest for further large CIGS production lines from other companies based in China were also promising, according to the company.

The company also noted that it expected further orders for its crystalline silicon wet-chemical equipment (Silex II) for N-type mono heterojunction (HJ) solar cells within its solar division in 2017. 

Total new order intake in 2016 was €152.1 million, up from €96.3 million in 2015, driven by the major orders from CNBM of over €110 million, the largest single order in the history of the company.

A restructuring gain of €41.2 million was recognized in 2016 in relation to its bond restructuring, helping produce income of €37.8 million, compared to a loss of €8.8 million in 2015. Net profit was €18.9 million in 2016, compared to a net loss of €43.4 million in the previous year.

Solar segment sales in 2016 accounted for 58.8% of total revenue in 2016, flat (59.5%) with the previous year. However, sales to Asia accounted for 38% of sales in 2016, down from 51.4% in 2015. Sales in the US accounted for 35.5% of sales in 2016, up from 30.7% in 2015. European and specifically sales in German were relatively flat year-on-year and 12.6% and 11.6%, respectively. 

The company allocated €12.3 million to R&D activities in 2016, up from €11.2 million in the previous year. The increase was driven by further CIGS and HJ technology development as well as P-type PERC (Passivate Emitter Rear Cell) technology. 

Read Next

October 23, 2025
US solar manufacturer T1 Energy sold approximately 725MW of solar modules in Q3 2025, as it continues to expand US manufacturing capabilities.
Sponsored
October 22, 2025
LONGi vice president Dennis She discusses the value logic behind the company's strategic focus on back contact technology.
October 20, 2025
Details of tariffs on US imports of polysilicon products may be announced as early as the end of this month, according to a note from investment bank Roth Capital.
Premium
October 14, 2025
OCI Holdings’ decision this week to buy a Vietnamese solar wafer facility to supply the US solar cell manufacturing industry makes clear the biggest vulnerability facing the sector today.
October 13, 2025
Korean chemical production firm OCI Holdings has acquired a 65% stake in a Vietnamese solar wafer production plant, intending to export solar wafers to the US.
October 13, 2025
US solar manufacturer T1 Energy has acquired a minority stake in fellow US-based solar cell producer Talon PV.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany