- Focus on growth drivers Blu-ray and Solar
- Sales targets for 2010 of more than € 200 million for Optical Disc and at least € 120 million for Solar
- Balance sheet adjusted to new economic and technologic conditions, adjustment of € 41.2 million
- No deterioration of cash position
- Positive EBIT in 2008 before extraordinary charges
- Future double-digit million cost relief
Kahl am Main, September 17, 2008 - The Executive Board of the SINGULUS TECHNOLOGIES AG (SINGULUS) in agreement with the Supervisory Board decided on September 17, 2008 to focus the company exclusively on the segments Optical Disc and Solar in the future. In this connection, a portfolio optimization was also resolved as well as an adjustment of the balance sheet to the new economic and technologic conditions.
The new positioning of the company results in one-time write-offs in the amount of € 41.2 million, which are not liquidity related. With this step inherited burdens are adjusted and the accounting base for a healthy development in the next years formed. For example, these write-offs already result in cost relieves of € 15.8 million in the years 2009 - 2011.
The measures resolved include primarily a revaluation of the market expectations of our semiconductor activity HamaTech APE as well as the adjustment of our non-core activities Nano Deposition and Optical Coating.
The future replacement of the CD and DVD mastering machines by the new CRYSTALLINE plant for Blu-ray Disc results in a reevaluation of the mastering activities.
The agreed portfolio optimization in connection with the clear focus on the two growth areas Blu-ray and Solar will both improve sales and earnings significantly in the coming years. Correspondingly, SINGULUS will return to its successful track.
Sales in 2010 in the Optical Disc division are expected to exceed € 200 million once again. The Solar segment is projected to contribute sales of at least € 120 million.