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Singulus withdraws sales, earnings projections for 2019

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

September 9 (Renewables Now) - German photovoltaics (PV) production equipment maker Singulus Technologies AG (ETR:SNG) said today that its sales and earnings targets for 2019 are no longer achievable due to some temporary order delays.

The company has been informed that Chinese state-owned enterprise CNBM Group will presumably sign certain delivery contracts in the fourth quarter of 2019. Its anticipated order relates to the further expansion of production capacities for copper indium gallium selenide (CIGS) thin-film solar modules.

CNBM is getting ready to commission a factory in Meishan in the next couple of months, as scheduled, and assumes “a set-up as planned” for its next CIGS facilities in China. Identical factories in other Asian countries could result in additional demand, Singulus said in a statement.

While the German company’s executive board sees a favourable outlook overall, it noted that the further delay of order placements will prevent Singulus from reaching its sales and earnings before interest and tax (EBIT) projections for 2019. In mid-August, the solar machinery maker confirmed a forecast for higher sales and EBIT for the full year.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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