Singulus posts positive EBIT for 1st half 2017
Singulus released financial results for the first half of 2017 today. The company reports gross revenue of €48.3 million, close to double the €24.6 million it registered for the same period of last year.
Order backlog, however, stood at €87.7 million. This is well below the previous year’s figure of €133.5 million.
“During the last weeks, we have received more important orders for different CIGS production systems,” says Singulus CEO Stefan Rinck. “These are buffer layer deposition systems of type TENIUS II, as well as GENERIS vacuum sputtering systems.”
For the full year 2017, Singulus is forecasting a doubling in its sales YoY, and an overall EBIT ‘in the low, positive double digit million [€] range’. Prepayments for the second part of a major CIGS order from CNBM, are expected in the third quarter.
Singulus also states that it expects further orders for its wet chemical machinery in the second half of the year, but notes that it is facing particularly high competitive pressures in this section of the business.