Singulus posts solar sales of €36 million in 2009: expects order intake to improve

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Hit by the global recession and weak solar equipment market in 2009, Singulus Technologies posted total revenue of €116.6 million for the business year 2009, compared to €212.1 million in 2008, approximately a 45% decline, year-on-year. Its solar business segment posted revenue of €36 million, down slightly from €37.9 million in 2008. However, 2009 results included the consolidated revenue of Stangl Semiconductor Equipment, which it recently acquired.

Adjusted for restructuring and impairment expenses an EBIT loss of €40.3 million was achieved compared to a €2 million profit in 2008. Headcount had been reduced from 722 employees to 572, as part of its cost cutting measures.

However, the company said that due to its commitment to new product development and collaborations with customers during the downturn, it expects new order intake to improve in the coming year.

Total order backlog, including solar equipment, stood at €34.7 million at the end of 2009, down from €70.2 million in the previous year.

The company also announced management changes that come into effect April 1.

Stefan Rinck, member of the executive board since September 1, 2009, will take over the management of the company as CEO.

Markus Ehret will become a member of the executive board as head of finance and administration, CFO, with effect from April 19.

As planned, Roland Lacher will return to the supervisory board on April 1, when he will be chairman. Deputy Chairman Wolfhard Leichnitz and Günter Bachmann are the other members of the three-person supervisory board. The supervisory board mandate of Jürgen Lauer terminates on March 31.

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