singulus technologies...singulus technologies ag august 2017 - 7 - new product development 2016/2017...

SINGULUS

TECHNOLOGIES

August 2017 SINGULUS TECHNOLOGIES AG – First Half Year 2017

SINGULUS TECHNOLOGIES AG

August 2017 - 2 -

Agenda

1 Overview

2

Financials 3

SINGULUS TECHNOLOGIES Segments & New Business Areas

4 SINGULUS TECHNOLOGIES Outlook


August 2017 - 3 -

History SINGULUS TECHNOLOGIES

Foundation

SINGULUS

TECHNOLOGIES

Ernst Leybold started his business in Cologne

Company building 1860

1966 1851 1860 1967 1995

LEYBOLD HERAEUS

Vacuum Technology, Metallurgy

and Coating

Unicorn Pharmacy was founded 1600 in Hanau

W.C. Heraeus took over business in 1851 and

started with platinum

18

51

Merger

LEYBOLD / BALZERS

1995


August 2017 - 4 -

Headquarter Kahl am Main, Germany

Fürstenfeldbruck (Munich)

Germany

France

Sausheim

US East Coast HQ

Hartford/CT

US West Coast San Francisco

Latin America

Sao Paulo

China

Guangzhou

China

Shanghai

Asia Pacific

Singapore

Taiwan

Taipeih

Worldwide Connected, Close to the Markets,

Close to the Customer Base

Semiconductor

over 180

systems installed

Photovoltaic

over 5000 MW

production capacity

installed

Optical Disc

over 8.550

systems sold

incl. Metallizer

Legend:

Subsidiaries/Sales & Services

Headquarter

Production Site Fürstenfeldbruck

Agents

SINGULUS TECHNOLOGIES

Subsidiaries & Agents Worldwide

China

Shanghai


August 2017 - 5 -

SINGULUS TECHNOLOGIES

Innovations for New Technologies

THIN FILM

DEPOSITION

SURFACE

ENGINEERING THERMAL

PROCESSING

WET

CHEMICAL


August 2017 - 6 -

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


August 2017 - 7 -

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


August 2017 - 8 -

Agenda

1

2

Overview

3 Financials




August 2017 - 9 -

THEMAL

PROCESSING

Energy Consumption per Person in kWh

Europa: 36.402 kWh

USA: 81.875 kWh

China: 24.888 kWh

Source: Bundeszentrale für politische Bildung 2016

http://www.google.de/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwilhdGn-8PTAhXGORQKHesYANQQjRwIBw&url=http://www.clker.com/clipart-95003.html&psig=AFQjCNFkQcH8Mr_hyHecmxW-tGtNy5YsWg&ust=1493359335789255



https://www.primolo.de/sites/default/files/user_generated_content/website_content_images/14207-tom-4a/erde_rund2_118337104.jpg_b.jpg


August 2017 - 10 -

Sun Radiation World Wide

Source: European Centre for Medium-Range Weather Forecasts;

http://www.ecmwf.int/

http://www.ecmwf.int/


August 2017 - 11 -

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)


August 2017 - 12 -

Unsubsidized Levelized Cost of Solar Electricity

Compared to Conventional Energy Sources

Source: Lazard’s Levelized Cost of Energy- Version 10, December 2016/IRENA

USD 0.03/kWh

United Arab Emirates

USD 0.03/kWh


August 2017 - 13 -

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


August 2017 - 14 -

CIGS GW Projects in China

• Two contracts with a total

volume in excess of € 110

million signed

• Output capacity of each

factory 150 MW will be

expanded to around

300 MW each

• Groundbreakings for

three CIGS production

sites


August 2017 - 15 -

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


August 2017 - 16 -

Thermal processing techniques are used in an wide range at the

photovoltaic and semiconductor applications, focused on high

temperature and diffusion processes.

Thermal Processing

SINGULUS - Innovations for New Technologies


August 2017 - 17 -

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.

Sputtering

SINGULUS - Innovations for New Technologies


August 2017 - 18 -

SELENIUS Vacuum Evaporation System for

CIGS Thin Film Modules


August 2017 - 19 -

TENUIS II Buffer Deposition for CIGS Thin Film

Modules


August 2017 - 20 -

Expectations for Investments for CIGS-Solar

CIGS

CIGS

CIGS

3 GW

CIGS-Investments in China

1.5 GW

0.6 GW


August 2017 - 21 -

SDR/ Texturing

a-Si Front/Rear

ITO Front/Rear

Metal Rear *

Print Front

Curing (Annealing)

Test Sorting

Wet PECVD PVD Sputter PVD Sputter Thermal

SINGULUS Offers the Key Production Steps for Heterojunction

SILEX II Wet Processing and GENERIS PVD Sputtering Equipment


August 2017 - 22 -

SILEX II Wet Processing System for

Heterojunction Solar Cells


August 2017 - 23 -

GENERIS PVD Inline Sputtering Equipment


August 2017 - 24 -

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

• Over 220 Blu-ray systems installed base

• Ready for 100 GB Ultra HD Blu-ray

• Billions of discs produced around the world lead to

service & maintenance business


August 2017 - 25 -

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


August 2017 - 26 -


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


August 2017 - 27 -

Agenda

1

2

Overview

3



Financials


August 2017 - 28 -

Financial Overview 1st HY 2017

in million €

1st Half Year

2016

1st Half Year

2017

Gross Revenue 24.6 48.3

Order Intake 131.5 26.1

Order Backlog (30.06.) 133.5 87.7

EBIT -9.3 2.5

EBITDA -8.1 3.5

EBT 29.3 1.7

Profit for the Period 29.2 1.7

Operating Cash Flow -5.0 -15.1

Shareholders’ Equity (30.06.) 17.6 13.6

Equity Ratio (%) 23.7 17.0

Total Assets (30.06.) 74.2 79.8


August 2017 - 29 -

Profit & Loss Statement 1st HY 2017

in million €

1st Half Year

2016

1st Half Year

2017

Gross Revenue 24.6 48.3

Net Revenue 24.2 47.7

Gross Profit

(in % of Net Revenues)

4.3

(17.8 %)

14.3

(30.0 %)

OPEX (Total) -13.6 -11.8

− R+D

− Sales & Customer Service

− GM & A

− Other Income/Expenses

-3.8

-5.8

-4.4

0.4

-2.6

-5.4

-4.1

0.3

EBIT -9.3 2.5

Profit for the Period 29.2 1.7

EPS basic (in €) 67.53 0.21


August 2017 - 30 -

Cash Flow Development

in million € 6M 2016 6M 2017

Cash flow from Operating Activities -5.0 -15.1

Cash flow from Investing

Activities -0.6 -1.2

Cash flow from Financing Activities -1.0 22.4

Total Cash flow -6.6 6.1

Cash and Cash Equivalents at the

Beginning of the Period 19.0 18.5

Effect of Exchange Rate Changes 0.0 -0.2

Cash and Cash Equivalents at the

End of the Period 12.4 24.4


August 2017 - 31 -

Balance Sheet

million € Dec. 2016 June 2017

Cash and Cash Equivalents 18.5 24.4

Restricted Cash 21.0 2.2

Total Current Receivables and other Assets 18.6 15.9

Total Inventories 22.0 21.1

Non Current Assets 16.1 16.2

Total Assets 96.2 79.8

Total Current Liabilities 54.1 36.6

Total Non-Current Liabilities 30.0 29.6

Total Equity 12.1 13.6

Equity and Liabilities 96.2 79.8


August 2017 - 32 -

Dec. 2016 June 2017 Δ

SINGULUS Group 318 312 -6

Domestic 278 272 -6

Abroad 40 40 -

Employees


August 2017 - 33 -

Sales Split by Products

1st Half Year 2016 1st Half Year 2017

Semiconductor

6.4% Optical Disc

18.2%

Solar

75.4%

Semiconductor

8.9%

Optical Disc

39.4%

Solar

51.7%


August 2017 - 34 -

Sales Split by Region

1st Half Year 2016 1st Half Year 2017

Africa & Australia

0.6% Europe

11.6%

Americas

22.2%

Asia

65.6%

Africa & Australia

2.4%

Europe

24.8%

Americas

55.3%

Asia

17.5%


August 2017 - 35 -

Agenda

1

2

Overview

3


4

Financials

SINGULUS TECHNOLOGIES Outlook


August 2017 - 36 -

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

Disclaimer:

For the current year SINGULUS TECHNOLOGIES projects a doubling of sales pursuant to IFRS compared with the previous year. The operating result

(EBIT) for the Group should come in at a low, positive double-digit million range. The forecast for the annual targets for 2017 mainly rests on the

assumption that the majority of the concluded delivery contracts, which are currently booked as order backlog, can be finished as scheduled within the

course of the business year. The prerequisite for this is that the respective, contractually agreed prepayments are received in a timely manner. For the two

major orders reported in 2017 with additional customers for CIGS production machines, the prepayments were received in the quarter under review or

shortly thereafter and the assembly of the machines has begun. The pending prepayments for the second site in the context of the major order placed by

the Chinese customer CNBM have to be made during the third quarter for the order to make sufficient sales and earnings contributions within the course of

the year. Furthermore, additional orders in the area of wet-chemical machines are anticipated for 2017. In particular with respect to wet-chemical machines,

the company is subject to high competitive pressures.

If the order intake or the resulting prepayments by customers for the business years 2017 and 2018 assumed within the framework of the forecast should

fall significantly short of expectations, this could potentially threaten the survival of the company. Furthermore, we refer to the risk of a 50% depletion of the

nominal capital of the SINGULUS TECHNOLOGIES AG pursuant to HGB accounting principles,

which is detailed in the Risk Report.


August 2017 - 37 -

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...singulus technologies ag august 2017 - 7 - new product development 2016/2017...

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