- Sales target for 2005 achieved at € 244.2 million
- Order intake of € 70.3 million in the fourth quarter 75 % higher than in the same quarter one year ago (€ 40.3 million)
- Expected savings from the integration of STEAG HamaTech in the range of about € 20 million
Today the SINGULUS TECHNOLOGIES AG (SINGULUS) acquires 66.28 % of the STEAG HamaTech AG shares from SES as planned. Thus, SINGULUS currently owns 78.73 % of the shares in total. The amount may further rise during the period of the voluntary offer to the shareholders of STEAG HamaTech, which lasts until Wednesday, February 1, 2006.
Integration STEAG HamaTech
The integration of the two companies is being progresses as quickly as possible and implemented immediately within the scope of the legal framework. With the optimum adjustments at both companies, savings and synergies in the amount of about € 20 million are targeted. These cost advantages in procurement, production, R&D, sales and administration will significantly strengthen the international competitiveness of the SINGULUS Group.
SINGULUS will continue to focus on its core business of machines for Optical Disc in the future as well as the further development and the expansion of the areas TMR and Optical Coating. The business units Prerecorded Disc will be located at SINGULUS in Kahl am Main, whereas the business unit Recordable Disc will be concentrated at STEAG HamaTech in Sternenfels. This means that the activities in the segment Recordable will be discontinued in Kahl. For the location in Sternenfels the executive board of STEAG HamaTech announced today that the activities in the Prerecorded segment will be stopped. Furthermore, a portfolio optimization will be implemented. Activities not regarded as core businesses are intended to be sold in case of attractive offers or transformed into joint ventures with strategic partners.
Taking into account the measures already initiated at STEAG HamaTech, the lay-off of more than 200 employees overall in both companies is expected in the course of the fiscal year 2006. Thereof, the workforce at SINGULUS’ headquarter in Kahl will be reduced by approximately 80 jobs.
"With the merger of the two companies an important consolidation step is taken in our sector, which will be vital for the joint success of the two companies in the future" says Roland Lacher, Chief Executive Officer of the SINGULUS TECHNOLOGIES AG.
The merger of SINGULUS and STEAG HamaTech forms the basis for a technologic and market leadership in all optical disc formats especially in the course of the launch of the upcoming once-recordable Blu-ray/HD DVD for the recording of high-definition TV shows (HDTV).
In the segments Prerecorded CD and DVD/HD DVD SINGULUS has a dominant market position for years. This is also targeted for prerecorded Blu-ray. After the combination of the companies, in particular the position in the Recordable activities where SINGULUS had a weaker position in the past will increase.
Preliminary full-year results 2005
The order intake in the fourth quarter of 2005 developed favorably. At € 70.3 million it was 75 % higher than in the same quarter one year ago (€ 40.3 million) and also exceeded the amount achieved in the 3rd quarter (€ 65.1 million). According to preliminary figures SINGULUS achieved sales of € 244.2 million (previous year: € 439.5 million) and therefore met its forecast announced in August 2005. Compared with the previous quarter the net cash position rose slightly from € 53 million to about € 57 million.
SINGULUS TECHNOLOGIES – Key figures | |||||
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| 2002 | 2003 | 2004 | 2005* |
Gross revenues | million Euro | 291 | 363 | 440 | 244 |
Order intake | million Euro | 293 | 383 | 418 | 249 |
Order backlog as of | million Euro | 59 | 90 | 57 | 61 |
* Preliminary and unaudited
The complete and audited figures for 2005 will be released on March 24, 2006.