Singulus slumps to heavy losses in 2014 but turnaround expected in 2015

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Technology manufacturing equipment specialist Singulus Technologies has reported heavy 2014 losses on weak revenue in its Optical Disc and Solar divisions. 

Singulus reported full year 2014 revenue of €66.8 million (US$71.8 million), compared to €134.9 million in 2013. Earnings before interest and taxes were negative €49.1 million in 2014 compared to negative €2.2 million last year, due to lower sales in the Optical Disc and Solar divisions and restructuring of operations. 

The company noted that exclusion of the impairment and restructuring charges it would have generated a negative EBIT €27.8 million, compared to a positive EBIT of €600,000 in 2013.  

Singulus reported 2014 order intake of €60.6 million, compared to €115.1 million in the previous year.  Order backlog amounted to €14.0 million, compared to €20.3 million in 2013.

Turnaround 

Singulus noted that its order intake so far in 2014 had topped €60 million, up from €50 million noted at the begining of March and guided sales would double in 2015, due primarily to sales growth from orders received in its Solar division, which includes CIGS thin-film orders from Hanergy

However, the company guided a small loss for year, due in part to interest expense being paid on a bond. 

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