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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
SINGULUS TECHNOLOGIES AG
30.03.2017 - 3 -
SINGULUS TECHNOLOGIES
- Innovative Technology
THIN FILM
DEPOSITION
SURFACE
ENGINEERING THERMAL
PROCESSING
WET
CHEMICAL
SINGULUS TECHNOLOGIES AG
30.03.2017 - 4 -
Agenda
1
2
Overview
3 SINGULUS TECHNOLOGIES Segments & New Business Areas
4 SINGULUS TECHNOLOGIES Outlook
Financials
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
30.03.2017 - 6 -
in € million 2015 2016
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
SINGULUS TECHNOLOGIES AG
30.03.2017 - 7 -
Balance Sheet
in € million 2015 2016
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
SINGULUS TECHNOLOGIES AG
30.03.2017 - 8 -
Cash Flow Development
in € million 2015 2016
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
30.03.2017 - 11 -
Employees as of December 31, 2016
278
283
40
52
2016
2015
Germany Outside Germany
335
318
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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)
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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 %
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
30.03.2017 - 28 -
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
30.03.2017 - 29 -
Agenda
1
2
Overview
3
Financials
4
SINGULUS TECHNOLOGIES Segments & New Business Areas
SINGULUS TECHNOLOGIES Outlook
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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
SINGULUS TECHNOLOGIES AG
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!
SINGULUS TECHNOLOGIES AG
30.03.2017 - 34 -
Contact
SINGULUS TECHNOLOGIES AG
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
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.