singulus technologies · cigs thin-film cells – full pv value chain in one production flow –...

SINGULUS

TECHNOLOGIES

August 18, 2016 SINGULUS TECHNOLOGIES AG – First Half Year 2016

SINGULUS TECHNOLOGIES AG

18-08-2016 - 2 -

Agenda

1 Welcome – Overview

2 Financials

3 Markets and Products


18-08-2016 - 3 -

Equipment Signing 3 GW CIGS Project

• Two sets of contracts with

a total volume around

€ 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


18-08-2016 - 4 -

CIGS Thin-Film Cells – Full PV Value Chain in

one Production Flow – From Glass to Module

Process Options

Key production steps provided by SINGULUS TECHNOLOGIES


18-08-2016 - 5 -

Main Characteristics CIGS Thin-Film Technology

• Excellent stability

• Good low light performance

• Light soaking effect

• Reduced sensitivity to overheating

• Tolerance to shading & low intensity

• Low production costs at high volume production


18-08-2016 - 6 -

Agenda

1

2

Welcome – Overview

3 Markets and Products

Financials


18-08-2016 - 7 -

Step Shareholder

Structure

Equity/

Total Value in €

Number of Share

Nominal Value Bond

Before restructuring AA 100% 48.930.314 48.390.314

After capital reduction by withdrawal

of shares

AA 100% 48.930.240 48.930.240

After a simplified capital reduction AA 100%

305.814 305.814

After capital increase against

contributions

AA 5%

AG 95% 6.065.814 305.814

5.760.000

Exchange decision

After cash capital increase AA 5%

AG 95%

8.087.752

407.752

7.680.000

Target structure capital 8.087.752 8.087.752

Bonds AG 100% 60.000.000 1.000

Target for new bond AG 100% 12.000.000 100

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

160:1

1 Bond:96 New Shares

1 Bond: 2 New Bond à

100 €

-74

3 (old):1 (new)

deleted

+ 5.760.000

Overview Restructuring Concept


18-08-2016 - 8 -

Restructuring Details I

Former bondholders exercised the overall existing purchase rights to

the following extent:

• Exercised share purchase rights: 4,725,408 shares, corresponding to 82.04 %

• Exercised bond purchase rights: € 9,858,200.00 nominal value,

corresponding to 82.15 %

The purchase price

• For each liquidation share after the conclusion of the rights offering period

was determined at € 3.25

• The purchase price for the liquidation bond amounted to 71.25 % of the

nominal value


18-08-2016 - 9 -

Restructuring Details II

The net sales proceeds less liquidation expenses were distributed to

the former bondholders of the old SINGULUS bond who did not

exercise their respective acquisition rights, as share and bond cash

compensation, as follows:

• Share cash compensation: € 312.00 per share acquisition right that was not

exercised (corresponds to 96 new shares)

• Bond cash compensation: € 142.50 per non-exercised bond acquisition right

(corresponds to two new bonds with a nominal value of € 100.00 each)


18-08-2016 - 10 -

Overview New Shares

Total shares: 6,065,814

Share capital: € 6,065,814.00

Shares with a nominal value: € 1

ISIN/WKN: DE000A1681X5/A1681X

Stock symbol: SNG / Reuters SNGG.DE / Bloomberg SNG.NM

Type of Shares: Ordinary bearer shares

Prime Standard: Technology


18-08-2016 - 11 -

Shareholders Structure as of August 18, 2016

VVG Familie Roland Lacher KG 16.24 %

Universal-Investment-Gesellschaft mit

beschränkter Haftung 8.42 %

Prime Capital AG 7.97 %

Mr. Harald Busch 7.33 %


18-08-2016 - 12 -

Information Regarding New Bond

• Exchange identifier: WKN A2AA5H / ISIN DE000A2AA5H5

• Total nominal value: € 12,000,000.00

• Issue date/Interest from: July 22, 2016

• Face value: 120,000 bearer notes with a nominal value of € 100.00 each

• Coupon: Subject to early repayment, from interest period (including) until

July 22, 2017 (excluding) with an interest rate of 3.00 % annually




afterwards until maturity (excluding) with an interest rate of

10.00 % annually

• Maturity: Subject to early repayment, the notes will be redeemed

on July 22, 2021.


18-08-2016 - 13 -

Financial Overview 1st HY 2016

in million €

1st Half Year

2015

1st Half Year

2016

Gross Revenue 29.2 24.6

Order Intake 73.1 131.5

Order Backlog (30.06.) 57.9 133.5

EBIT -9.8 -9.3

EBITDA -8.0 -8.1

EBT -12.2 29.3

Profit / Loss for the Period -12.3 29.2

Operating Cash Flow 1.9 -5.0

Shareholders’ Equity (30.06.) 9.3 17.6

Equity Ratio (%) 7.3 23.7

Total Assets (30.06.) 127.3 74.2


18-08-2016 - 14 -

Profit & Loss Statement 1st HY 2016

in million €

1st Half Year

2015

1st Half Year

2016


Net Revenue 29.0 24.2

Gross Profit

(in % of Net Revenues)

5.6

(19.3 %)

4.3

(17.8 %)

OPEX (Total) -15.4 -13.6

− R+D

− Sales & Customer Service

− GM & A

− Other Income/Expenses

-4.2

-6.0

-5.5

0.3

-3.8

-5.8

-4.4

0.4

EBIT -9.8 -9.3


EPS basic (in €) -40.22 67.53


18-08-2016 - 15 -

Financial Overview Q2

million € Q2 2015 Q2 2016


Order Intake 10.3 121.1

Order Backlog (30.06.) 57.9 133.5

EBIT -3.9 -3.5

EBITDA -3.0 -2.9

EBT -5.2 36.4


Operating Cash Flow -3.8 2.0


18-08-2016 - 16 -

Profit & Loss Statement Q2

million € Q2 2015 Q2 2016


Net Revenue 16.4 10.3

Gross Profit

(in % of Net Revenues)

3.7

(22.6 %)

2.0

(19.4 %)

OPEX (Total) -7.6 -5.5

- R+D -2.0 -1.9

- Sales & Customer Service -3.0 -3.0

- GM & A -3.0 -2.1

- Other Income/Expenses 0.4 0.3

- Restructuring 0.0 1.2

EBIT -3.9 -3.5


EPS (basic) -17.66 64.94


18-08-2016 - 17 -

Cash Flow Development

in million € 6M 2015 6M 2016

Cash flow from Operating Activities 1.9 -5.0

Cash flow from Investing

Activities -2.4 -0.6

Cash flow from Financing Activities -11.9 -1.0

Total Cash flow -12.4 -6.6

Cash and Cash Equivalents at the

Beginning of the Period 35.8 19.0

Effect of Exchange Rate Changes 0.7 0.0

Cash and Cash Equivalents at the

End of the Period 24.1 12.4


18-08-2016 - 18 -

Balance Sheet

million € Dec. 2015 June 2016

Cash and Cash Equivalents 19.0 12.4

Total Current Receivables and other Assets 23.2 13.7

Total Inventories 28.9 28.2

Non Current Assets 21.0 19.9

Total Assets 92.1 74.2

Total Current Liabilities 36.3 27.1

Total Non-Current Liabilities 77.3 29.5

Total Equity -21.5 17.6

Equity and Liabilities 92.1 74.2


18-08-2016 - 19 -

Dec. 2015 June 2016 Δ

SINGULUS Group 335 333 -2

Domestic 283 284 +1

Abroad 52 49 -3

Employees


18-08-2016 - 20 -

Sales Split by Products

1st Half Year 2015 1st Half Year 2016

Optical Disc

45.2% Solar

50.3%

Semiconductor

4.5%

Semiconductor

8.9%

Optical Disc

39.4%

Solar

51.7%


18-08-2016 - 21 -

Sales Split by Region

Europe

19.5%

Africa & Australia

1.7%

Americas

53.8%

Asia

25.0%

1st Half Year 2015 1st Half Year 2016

Africa & Australia

2.4%

Europe

24.8%

Americas

55.3%

Asia

17.5%


18-08-2016 - 22 -

Agenda

1

2 Financials

3

Welcome – Overview

Markets and Products


18-08-2016 - 23 -

PV Technology Overview with SINGULUS

Technology and Product Portfolio

Production-Equipment for Crystalline & Thin-Film Solar

Crystalline Solar Cells (Multi/Mono), Heterojunction

c-Si Turn Key Solutions

Batch- and Inline Wet Processing

AR and ITO/ Ag Deposition (HJT)

c-Si = Highest Efficiency

CIGS Thin-Film Solar Cells

Selenization and Sulfurization Systems

Horizontal- and Vertical PVD Sputter Systems

Wet Process Applications

Evaporation System

CIGS = Highest Performance Potential

CdTe Thin-Film Solar Cells

Wet Process Applications

Horizontal- and Vertical PVD Sputter

Systems

CdTe = Lowest Production Cost per Watt/Peak


18-08-2016 - 24 -

SILEX II Wet Processing System


18-08-2016 - 25 -

SILEX II Wet Processing System


18-08-2016 - 26 -

Smart Solutions for High Tech Infrastructure


18-08-2016 - 27 -

PV Projects 2015/2016

• Wet Processing System SILEX II for Heterojunction Europe

• Buffer Layer Deposition systems TENUIS & Sputtering systems for CIGS

Project China, delivered 2015

• Wet Processing Systems SILEX II for GW project Heterojunction USA

• Large CIGS Order of around € 110 million received May 2016 - Two sets of 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

- 300 MW is the planned final output capacity of each factory

• Wet Processing Systems SILEX II & Utilities for GW project Heterojunction

in Russia

• Additional Wet Processing Systems SILEX II for Heterojunction expected


18-08-2016 - 28 -

SINGULUS TECHNOLOGIES

Innovations for New Technologies

SINGULUS TECHNOLOGIES is an engineering company

and develops and builds machines for vacuum thin-film

and plasma coating, wet-chemical cleaning and etching

as well as thermal processing technology for economic

and resource-efficient production.

Markets Energy Entertainment Mobility Semi-

conductor

Consumer

Goods


18-08-2016 - 29 -

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 · cigs thin-film cells – full pv value chain in one production flow –...

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