- Outstanding 20 % Growth in Revenue for 2004
- DVD Lines Instrumental to 2004 Success
- Measures Implemented to Offset Market Conditions
Kahl am Main, February 7, 2005 – SINGULUS TECHNOLOGIES AG (SINGULUS) has increased revenues by 20 % to 435 million Euro (previous year 363 million Euro) after a review of preliminary figures. The EBIT (earnings before interest & taxes) demonstrated high single-digit growth over the previous year’s figures. Due to the fiscal 2004 transition from US-GAAP to IFRS accounting standards, year-end details will next be provided at the Financial Press and Analysts Conference on March 24, 2005.
SINGULUS’ order intake totaled 416 million Euro for fiscal 2004 (prior year 383 million Euro). “We are proud to have achieved such excellent results despite the market-driven lower order intake for the fourth quarter�, commented Roland Lacher, CEO SINGULUS TECHNOLOGIES AG, on the preliminary figures. The decline in the order intake for the fourth quarter in 2004 (39 million Euro), attributed primarily to a downturn in Asian business, reduced the order backlog to 57 million Euro by December 31, 2004 (previous year 90 million Euro) but had only a negligible affect on revenues and earnings in fiscal 2004.
As a result, SINGULUS has implemented measures to offset these conditions. The organization as well as personnel and cost structures will be streamlined to offset this temporary downturn in demand. These cost-cutting measures which e.g. include a staff reduction of 120 employees in the SINGULUS Group worldwide are aimed at saving approx. 5 million Euro in 2005. The measures implemented by SINGULUS are intended to absorb the anticipated impact of the weakened Asian market and thereby sustain satisfactory results for 2005.
SINGULUS looks to the future with optimism, particularly in light of its growth potential which extends well beyond 2005. Independent research firms project further double digit growth rates for DVD and for DVD-R. Hence, SINGULUS considers the downturn to be temporary in nature.
The company is very well-positioned for the new third format generation of optical discs, HD-DVD and Blu ray, due to the partnerships it has forged with the major drivers Memory-Tech for HD-DVD and Sony for Blu ray. SINGULUS will introduce machines for each format during the first half of 2005 and also expects first revenues and earnings in this year.
SINGULUS is the leading global manufacturer of optical data storage production equipment. The company owes its strong market position primarily to its technological competence and exceptional financial strength.
SINGULUS TECHNOLOGIES – Consolidated Financial Data | ||||
In Mio. Euro | 2001 | 2002 | 2003 | 2004* |
Revenues (gross) | 226 | 291 | 363 | 435 |
Order Intake | 123 | 293 | 383 | 416 |
Order Backlog | 56 | 59 | 90 | 57 |
* Provisional and unaudited
The complete audited 2004 Year-End Report will be released on March 24, 2005.
SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103, D-63796 Kahl/Main
ISIN: DE0007238909 / WKN: 723890