Singulus Technologies Turns To Profit In Q2, Orders Down; Sees Growth In FY22

Singulus Technologies AG (SGTSF.PK,SGTSY.PK), a developer of machines and systems for efficient thin-film coating and surface treatment processes, reported Thursday that its second-quarter earnings before interest and taxes or EBIT was 1.4 million euros, compared to previous year's loss of 5.0 million euros.

In the second quarter, sales were 22.8 million euros, higher than last year's 11.0 million euros.

Order intake amounted to 27.1 million euros, slightly lower than prior year's 28.0 million euros. The order backlog increased further and reached 104.0 million euros, higher than 86.4 million euros last year.

Looking ahead for fiscal 2022, the company expects an increase in sales and earnings figures, on IFRS basis, compared with the past business years 2020 and 2021.

Stefan Rinck, CEO, said, "Despite the persistently difficult environment, in particular in connection with disrupted supply chains and the Russia-Ukraine war, we also expect the operating earnings before interest and taxes (EBIT) to develop positively for the current year."

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