Singulus turns to profit in Q1

Image by Singulus Technologies AG. Source: http://www.singulus.com.

May 15 (Renewables Now) - German photovoltaics (PV) production equipment maker Singulus Technologies AG (ETR:SNG) reported a small net profit of EUR 0.2 million (USD 0.22) for the first quarter of 2019 after a loss of EUR 2.1 million a year earlier.

Earnings and sales increased year-over-year and the company’s gross margin rose to 31.1% from 27.1%.

Singulus’ involvement in the new application areas Decorative Coatings and Medical Technology has expanded so the company has added a new segment, Life Science, for such activities. The segment also includes Optical Disc. Details on first-quarter performance are available in the table, including information for the separate segments.

Results in EUR million	Q1 2019	Q1 2018
Net sales	20.6	17
- Solar segment sales	13.9	11.9
- Life Science segment sales	5.8	4.3
- Semiconductor segment sales	0.9	0.8
EBITDA (loss)	2	(1.2)
EBIT (loss)	1.1	(1.6)
- Solar segment EBIT	1	(0.7)
- Life Science segment EBIT	0.4	(0.7)
Semiconductor segment EBIT	(0.3)	(0.2)
Profit (loss) for the period	0.2	(2.1)

Order intake in the quarter reached EUR 11.8 million, down from EUR 36.1 million a year ago, because of large orders for CIGS module production machinery in early 2018.

The company confirmed its forecast for higher sales and EBIT for the full year, supported by the solar division, and, more specifically, large CIGS orders.

(EUR 1 = USD 1.12)

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