Singulus reports weak solar sales for 1H10, expects increase by end of year

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Singulus Technologies recorded a higher order intake for the first half of 2010 in comparison to the previous year, confirming €67.4 million in comparison to €40.8 million in 2009 – increasing by 65%. The sales figures were not as impressive however, with a decline from €67.1 million in the first six months of 2009 to €49.3 million in 2010. The company blames this decline on weak sales in the solar and semiconductor segments, while the optical disc segment remained strong.

The sales decline, according to Singulus, is also a result of the disposal of the HamaTech APE, Sternenfels (APE). Overall, this, combined with lower sales in the semiconductor and solar divisions, also had an impact on the EBIT which was negative in the first quarter with €-8.0 million (€-10.6 million in 2009). In the quarter under review the EBIT amounted to €-2.5 million (€ -5.7 million in 2009).The business performance to date in the optical disc segment could not compensate the to-date weak sales and the results of the solar segment.

The number of employees in the Singulus Group also declined from 608 as of June 30, 2009 to 470 employees as of June 30, 2010 – again Singulus puts this down to the disposal of APE as well the restructuring program in the third quarter of 2009.

However, Singulus has now completed its first front-end system for the manufacturing of silicon solar cells. The company is in talks with additional prospective buyers for this machine and has presented respective offers. In terms of thin-film solar technology, Singulus is involved in active project talks for wet-chemical plants, diffusion furnaces and ILGAR technologies.

The coming weeks will be decisive for the further course of the business year 2010 and impact the key figures for sales and earnings correspondingly. Although Singulus’ forecasts are currently behind for the business year, the company is still confident that it will reach its targets for 2010.

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