singulus technologies · in € million 2015 2016 cash flow from operating activities -10.5 14.1...

SINGULUS

TECHNOLOGIES

March 30, 2017 SINGULUS TECHNOLOGIES AG –

Annual Press and Analyst Conference for FY 2016

SINGULUS TECHNOLOGIES AG

30.03.2017 - 2 -

Agenda

1 Overview

2 Financials

3 SINGULUS TECHNOLOGIES Segments & New Business Areas

4 SINGULUS TECHNOLOGIES Outlook


30.03.2017 - 3 -

SINGULUS TECHNOLOGIES

- Innovative Technology

THIN FILM

DEPOSITION

SURFACE

ENGINEERING THERMAL

PROCESSING

WET

CHEMICAL


30.03.2017 - 4 -

Agenda

1

2

Overview

3 SINGULUS TECHNOLOGIES Segments & New Business Areas

4 SINGULUS TECHNOLOGIES Outlook

Financials


30.03.2017 - 5 -

Financial Key Figures

in € million 2015 2016

Revenues 83.7 68.8

Order Intake 96.3 152.1

Order Backlog (31.12.) 26.6 109.9

EBIT -34.5 -17.7

EBIT Adjusted -18.2 -17.3

EBITDA -27.0 -14.4

Profit Before Tax -43.3 20.1

Net Result -43.4 18.9

Operating Cash Flow -10.5 14.1

Shareholders’ Equity -21.5 12.1

Total Assets 92.1 96.2


30.03.2017 - 6 -


Gross Revenue 83.7 68.8

Net Revenue 82.3 67.6

Gross Profit

(in % of Net Revenues)

13.0

(15.8%)

12.9

(19.1%)

- R&D

- Sales & Customer Service

- GM & A

- Other Income/Expenses

- Restructuring and Impairment

-9.5

-12.2

-10.5

1.0

-16.3

-8.8

-12.1

-9.2

-0.1

-0.4

OPEX (Total) -47.5 -30.6

EBIT

(in % of Net Revenue)

-34.5

(-41.9%)

-17.7

(-26.2%)

Net Result -43.4 18.9

EPS (basic) -141.92 5.13

Profit & Loss Statement


30.03.2017 - 7 -

Balance Sheet


Available Cash 19.0 18.5

Restricted Cash 3.3 21.0

Total Current Receivables

and Other Assets

19,9 18.6

Total Inventories 28.9 22.0

Non Current Assets 21.0 16.1

Total Assets 92.1 96.2

Total Current Liabilities 36.3 54.1

Total Non-Current Liabilities 77.3 30.0

Total Equity -21.5 12.1

Equity and Liabilities 92.1 96.2


30.03.2017 - 8 -

Cash Flow Development


Cash Flow from Operating

Activities -10.5 14.1

Cash Flow from Investing

Activities -4.7 -0.5

Cash Flow from Financing

Activities -2.3 -14.1

Total Cash Flow -17.5 -0.5

Liquid Funds at the Beginning

of the Fiscal Year 35.8 19.0

Effect of Exchange Rate

Changes 0.7 0.0

Liquid Funds at the End

of the Fiscal Year 19.0 18.5


30.03.2017 - 9 -

America

1.6%

51.4%30.7%

7.2%

9.1%

Africa & Australia Europe (without

Germany)

Asia America

Germany

Sales Split by Region

2016 2015

America

2.3%

38.0%35.5%

11.6%

12.6%

Africa & Australia Europe (without

Germany)

Asia America

Germany


30.03.2017 - 10 -

Sales Split by Products

2016 2015

Asia 5.5%

59.5%

35.0%

Semiconductor

Optical

Disc

Solar

Asia 6.0%

58.8%

35.2%

Semiconductor

Optical

Disc

Solar


30.03.2017 - 11 -

Employees as of December 31, 2016

278

283

40

52

2016

2015

Germany Outside Germany

335

318


30.03.2017 - 12 -

Step Shareholder

Structure

Equity/

Total Value in €

Number of Share

Nominal Value Bond

Capital reduction AA 100% 48.930.240 48.930.240

After a simplified capital reduction AA 100% 305.814 305.814

Capital increase against

contributions

AA 5%

AG 95%

6.065.814 6.065.814

Cash capital increase 2.021.938 2.021.938

After cash capital increase 8.087.752

8.087.752

New bond SV 100% 12.000.000 100

160:1

+ 2 New Bonds à 100 €

+2.021.938

+ 5.760.000

Overview Restructuring Concept

AA = Old Shareholder, AG = Bondholder, SV= New Bondholder


30.03.2017 - 13 -

Agenda

1

2

Overview

3

Financials

_ CIGS Thin-film Solar – The Basis for Stability

_ SILEX II – Wet Processing System for Heterojunction Solar Cells

_ LINEX – New Inline Wet Processing System

_ GENERIS PVD – New Sputtering System for Heterojunction Solar Cells

_ More Products: BLULINE – TIMARIS – DECOLINE

SINGULUS TECHNOLOGIES Segments & New Business Areas


30.03.2017 - 14 -

Leveled Cost of Electricity of new Power Plants

(€ct/kWh)

Source: Fraunhofer ISE/ IPA Dec. 2013 „Study for planning and construction of an xGW factory for the production of

forward looking PV products in Germany” (0.5 GWp/a, Sevilla - Note: in this study, PV costs are projected for products

from a GWp fab, the costs for fossile driven power plants are today's)


30.03.2017 - 15 -

Global Annual Growth on PV Capacity Until 2020


30.03.2017 - 16 -

Global Cumulative in PV Capacity Until 2020


30.03.2017 - 17 -

Crystalline Solar vs. CIGS Thin Film

• High cell & module efficiency

• Easy process

• Advanced technology

• Production split on different

locations (Silicon, ingot, wafer,

cell, module)

Crystalline Solar

• Excellent stability

• Good low light performance

• Light soaking effect

• Reduced sensitivity to overheating

• Tolerance to shading & low intensity

CIGS Thin Film


30.03.2017 - 18 -

Equipment Signing 3 GW CIGS Project

• Two contracts with a total

volume in excess of € 110

million signed

• Two different factory sites

• For an output volume of

around 150 MW each as a

first expansion stage

• The planned final output

capacity of each factory

should amount to around

300 MW


30.03.2017 - 19 -

Signing Ceremony for Second CIGS Fab

between Government & CNBM

• CNBM signed the contract

for the construction of

1.5 GW CIGS thin-film

solar cell project in

Lingang Development

Zone, Jiangyin, Jiangsu

• 300 MW of CIGS thin-film

solar cell project planned

at the first phase

• Orders placed for an

output volume of around

150 MW


30.03.2017 - 20 -

Si barrier layer &

Mo Back

Contact > Sputtering

Scribing P1 > Laser

CdS or. alt. buffer

Deposition > Chemical Bath

Deposition (CBD)

> or ILGAR (In2S3) Interconnect and

Encapsulation >Lamination

Glass Washing > Wet cleaning

Scribing P2 >Mechanical

>Laser

2

7 Scribing P3 >Mechanical

> Laser

CIS/CIGS

Substrate

Inspection

Precursor > Sputtering

Front Contact > Sputtering

3

InS &

iZnO > Evaporation&

sputtering Automation

5

1 6

6

SINGULUS TECHNOLOGIES Provides all Key

Production Steps for a CIGS Fab

Selenezation/

Sulphurization > CISARIS Oven

4

Selen Evaporation > thermal evaporation


30.03.2017 - 21 -

Thermal Processing techniques are used in an wide range at the

photovoltaic and semiconductor applications, focused on high

temperature and diffusion processes.

▲ CISARIS – Sulphurisation- and Selenization System with RTP Step (Glass)

Thermal Processing

SINGULUS - Innovations for New Technologies


30.03.2017 - 22 -

Thin-film deposition systems are used in photovoltaic, electronics and on a wide range of coating

applications for the enhancement of surfaces and displays with specific functionalities.

Thin Film Deposition

SINGULUS - Innovations for New Technologies


30.03.2017 - 23 -

SILEX II Wet Processing System for

Heterojunction Solar Cells

Main Features SILEX II

• Customer reached 21.75 % efficiency for

heterojunction cells

• High throughput up to 6000 wph

• High uptime up to 95 %

• Low breakage rate down to 0.01 %

• Ozone-enhanced cleaning and etching

processes


30.03.2017 - 24 -

SDR/ Texturing

a-Si Front/Rear

ITO Front/Rear

Metal Rear *

Print Front

Curing (Annealing)

Test Sorting

Wet PECVD PVD Sputter PVD Sputter Thermal

New Product Development: GENERIS PVD

Sputtering Equipment for Heterojunction

SINGULUS TECHNOLOGIES offers key production

steps for Heterojunction cell production

Main Features GENERIS PVD

• 22.33 % efficiency for

heterojunction cell reached

• High throughput & high uptime

• Inline system

• Automatic carrier system


30.03.2017 - 25 -

New Product Development:

LINEX Inline Wet Process Equipment

Main Features LINEX

• From R&D tool to 10-lane facility

• Integration of ozone in every inline

process

• High uptime up to 99 %

• Low CoO

• Low breakage rate down to 0.01 %


30.03.2017 - 26 -

SINGULUS TECHNOLOGIES AG - OPTICAL DISC

Optical

Disc

Solar

Semi-

Conductor

Mastering, Molding and Replication for all Disc Formats CD – DVD – Blu-ray:

• Total 8,530 systems sold worldwide

• Market share Blu-ray > 90 %, SINGULUS is Market Leader!

• Over 220 Blu-ray systems installed base

• Excellent equipment performance

• Ready for 100 GB Ultra HD Blu-ray


30.03.2017 - 27 -

SINGULUS TECHNOLOGIES AG -

SEMICONDUCTOR

Optical

Disc

Solar

Semi-

Conductor

Advanced Vacuum Coating applications

• TIMARIS is a market-ready machine for MRAM production

• Excellent prospects for further growth in applications like sensors

• Modular platform for new applications, e.g. Voltage Regulator, MEMS, Extreme

Ultraviolet (EUV) Technology


30.03.2017 - 28 -


Decorative Coating

Optical

Disc

Solar

Semi-

Conductor

Advanced Vacuum Coating Applications

• Brilliant layers on 3-dimensional parts

• Individual design variety

• UV-curing for protection lacquer

• Inline spray coating & metallization

• Fully automated processing & high productivity and flexibility

• Low cost of ownership

• Environment-friendly


30.03.2017 - 29 -

Agenda

1

2

Overview

3

Financials

4

SINGULUS TECHNOLOGIES Segments & New Business Areas

SINGULUS TECHNOLOGIES Outlook


30.03.2017 - 30 -

Process Overview SINGULUS TECHNOLOGIES

Thin Film Deposition

- Sputter deposition (DC, RF, MF, Bipolar, pulsed)

- Evaporation (thermal evaporation)

- CVD

- PECVD (ICP, µ-Wave) - AACVD (aerosol assisted CVD)

SURFACE ENGINEERING

- Embossing, imprint nano lithography

- Injection molding

- Functionalization

- Oxidation

- Plasma cleaning & etching

- Lacquering & bonding

Thermal Processing

- Rapid thermal processing

- Conditioning

- Annealing

Wet Chemical

- Cleaning/washing

- Etching/polishing

- Texturing

- Conditioning

- Chemical bath deposition

- Developing

THIN FILM

DEPOSITION

SURFACE

ENGINEERING

THERMAL

PROCESSING

WET

CHEMICAL


30.03.2017 - 31 -

New Product Development 2016/2017

Cisaris

Vistaris 900

Tenuis II

Vitrum II

CIGS Pilot Line

Linea I

c-Si

IBC,

PERC/PERT,

HJT

Thin-film

CdTe

CIGS

Semi-

conductor

Solar

2002 2006 2008 2009 2010 2011 2012 2013 2015 1997 1996 2014

Singular

Solare

Helioscoater

Rotaris

Timaris II Timaris I

Vistaris1600

Optical

Disc (OD)

Skyline

Spaceline

Bluline I Bluline III

Bluline II

Decoline II New

Business

(NB)

2016

Selenius

Silex II Linex

Generis

Polycoater

2017

Timaris III

Existing product portfolio Currently in our product pipeline


30.03.2017 - 32 -

Forecast 2017/2018

Year 2017 2018

Sales Doubling of revenues

(2016: 68.6 Mio. €)

Moderate increase in

revenues

EBIT Positive at low single-

digit million range

An improvement in the gross

margin is expected to lift

EBIT further compared with

2017

SINGULUS

TECHNOLOGIES

March 30, 2017

SINGULUS TECHNOLOGIES AG –

Annual Press and Analyst Conference for FY 2016

Vielen Dank!


30.03.2017 - 34 -

Contact


Hanauer Landstrasse 103

D-63796 Kahl/Main

Dr.-Ing. Stefan Rinck, President and CEO

Tel: +49-6188-440-109

[email protected] Markus Ehret, CFO

Tel: +49-6188-440-204 [email protected]

Maren Schuster, Head of Investor Relations

Tel: +49-6188-440-612

[email protected] Bernhard Krause, Communications Worldwide

Tel: +49-6181-9828020

[email protected]

Forward-Looking Statements

This presentation contains forward-looking statements

based on current expectations, assumptions and forecasts

of the executive board and on currently available

information. Various known and unknown risks,

unpredictable developments, changes in the economic and

political environment and other presently not yet

identifiable effects could result in the fact that the actual

future results, financial situation or the outlook for the

company differ from the estimates given here. We are not

obligated to update the forward-looking statements made in

this presentation unless there is a legal obligation.

singulus technologies · in € million 2015 2016 cash flow from operating activities -10.5 14.1...

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