Singulus posts small op profit in 9-mo 2017

Singulus Technologies AG (ETR:SNG) today said its earnings before interest and tax (EBIT) were positive at about EUR 400,000 (USD 465,000) in the first nine months of 2017, against an EBIT loss of EUR 14.8 million a year earlier.

The German supplier of machinery to the solar and other industries, increased revenues in the period to EUR 63.6 million from EUR 36.7 million in the first nine months of 2016. Order intake, however, declined to EUR 53.4 million from EUR 144.1 million, while the order backlog at the end of the period contracted to EUR 99.7 million from EUR 134 million in the previous year. This reflects a big Chinese solar order of about EUR 110 million last year. In the third quarter, order intake rose to EUR 27.3 million from EUR 12.6 million a year ago.

The company confirmed its reduced full-year forecast, lowered in September, for sales in the range of EUR 90 million to EUR 100 million and EBIT in ranging from a positive EUR 2 million to a loss of EUR 3 million.

Singulus said it is starting a strategically important expansion into the market for medical technology. It has recently signed a contract for the sale of processing systems for the treatment of contact lenses.

(EUR 1 = USD 1.163)

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