Singulus Technologies reported sales of €43.6 million for the first six months of the year, down from €64.6 million in the same period of 2011. Solar segment equipment sales were 27.5% of revenue in the first half of 2012, or approximately €12 million, down from 33.1% of sales in the prior-year period.
Not expecting a recovering in equipment sales to the solar industry any time soon, Singulus Technologies said it would be investing in new technologies and products within both the CIGS thin-film and crystalline silicon (c-Si) sectors to become a key technology partner. Management also hinted at potential acquisitions as part of the strategy.
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The company said that it would be making further cost cutting measures, notably in its solar segment operations having seen total losses for the first 6-months of the year increase to €12.4 million, up from losses of just €0.2 million in the prior year period.
As of June 30, 2012 the total order backlog stood at €70.2 million, down from €85.9 million achieved in the prior-year period.
Singulus announced at the end of July 2012 that it had received an order worth more than €7 million from Photovoltaic Technology Intellectual Property (Pty) Limited (PTIP), a spin-off from the University of Johannesburg undertaking research into CIGS thin-film cells. Orders were placed with Singulus for its vacuum coating, selenization as well as wet-chemical process tools.
Management noted that it did expect to receive new orders in the second-half of the year but didn’t expect to turn a profit for the full-year.
