KAHL am MAIN | SINGULUS TECHNOLOGIES —
Singulus Technologies progresses the strategic re-positioning of the company and accordingly, plans an adjustment of the capital structure.
This was released in the course of an invitation to the ordinary Annual General Meeting to be held on June 9, 2015.
The company reported on the results for the past business year 2014 in the course of the presentation of the annual results on March 31, 2015. Accordingly, the Group incurred a net loss of € -51.6 million in the previous business year, which correspondingly reduced the equity on a Group level to € 20.1 million as of the end of the year. The main reasons for this development were substantial decreases in volume sales and sales in the Solar and Optical Disc segments as well as the continuing burden of interest payments for the corporate bond.
While the operating activities picked up considerably in the first quarter 2015 and orders exceeding € 60 million were already recorded, the earnings situation remains difficult. To secure the economic viability of the company in the long-term and to enable further growth, the Executive Board accelerates the initiated strategic repositioning of the company and intends to adjust the capital structure as an essential basis for this.