singulus technologies...singulus technologies ag august 2017 - 7 - new product development 2016/2017...
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SINGULUS
TECHNOLOGIES
August 2017 SINGULUS TECHNOLOGIES AG – First Half Year 2017
SINGULUS TECHNOLOGIES AG
August 2017 - 2 -
Agenda
1 Overview
2
Financials 3
SINGULUS TECHNOLOGIES Segments & New Business Areas
4 SINGULUS TECHNOLOGIES Outlook
SINGULUS TECHNOLOGIES AG
August 2017 - 3 -
History SINGULUS TECHNOLOGIES
Foundation
SINGULUS
TECHNOLOGIES
Ernst Leybold started his business in Cologne
Company building 1860
1966 1851 1860 1967 1995
LEYBOLD HERAEUS
Vacuum Technology, Metallurgy
and Coating
Unicorn Pharmacy was founded 1600 in Hanau
W.C. Heraeus took over business in 1851 and
started with platinum
18
51
Merger
LEYBOLD / BALZERS
1995
SINGULUS TECHNOLOGIES AG
August 2017 - 4 -
Headquarter Kahl am Main, Germany
Fürstenfeldbruck (Munich)
Germany
France
Sausheim
US East Coast HQ
Hartford/CT
US West Coast San Francisco
Latin America
Sao Paulo
China
Guangzhou
China
Shanghai
Asia Pacific
Singapore
Taiwan
Taipeih
Worldwide Connected, Close to the Markets,
Close to the Customer Base
Semiconductor
over 180
systems installed
Photovoltaic
over 5000 MW
production capacity
installed
Optical Disc
over 8.550
systems sold
incl. Metallizer
Legend:
Subsidiaries/Sales & Services
Headquarter
Production Site Fürstenfeldbruck
Agents
SINGULUS TECHNOLOGIES
Subsidiaries & Agents Worldwide
China
Shanghai
SINGULUS TECHNOLOGIES AG
August 2017 - 5 -
SINGULUS TECHNOLOGIES
Innovations for New Technologies
THIN FILM
DEPOSITION
SURFACE
ENGINEERING THERMAL
PROCESSING
WET
CHEMICAL
SINGULUS TECHNOLOGIES AG
August 2017 - 6 -
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
August 2017 - 7 -
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
August 2017 - 8 -
Agenda
1
2
Overview
3 Financials
4 SINGULUS TECHNOLOGIES Outlook
SINGULUS TECHNOLOGIES Segments & New Business Areas
SINGULUS TECHNOLOGIES AG
August 2017 - 9 -
THEMAL
PROCESSING
Energy Consumption per Person in kWh
Europa: 36.402 kWh
USA: 81.875 kWh
China: 24.888 kWh
Source: Bundeszentrale für politische Bildung 2016
SINGULUS TECHNOLOGIES AG
August 2017 - 10 -
Sun Radiation World Wide
Source: European Centre for Medium-Range Weather Forecasts;
http://www.ecmwf.int/
SINGULUS TECHNOLOGIES AG
August 2017 - 11 -
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
August 2017 - 12 -
Unsubsidized Levelized Cost of Solar Electricity
Compared to Conventional Energy Sources
Source: Lazard’s Levelized Cost of Energy- Version 10, December 2016/IRENA
USD 0.03/kWh
United Arab Emirates
USD 0.03/kWh
SINGULUS TECHNOLOGIES AG
August 2017 - 13 -
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
August 2017 - 14 -
CIGS GW Projects in China
• Two contracts with a total
volume in excess of € 110
million signed
• Output capacity of each
factory 150 MW will be
expanded to around
300 MW each
• Groundbreakings for
three CIGS production
sites
SINGULUS TECHNOLOGIES AG
August 2017 - 15 -
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
August 2017 - 16 -
Thermal processing techniques are used in an wide range at the
photovoltaic and semiconductor applications, focused on high
temperature and diffusion processes.
Thermal Processing
SINGULUS - Innovations for New Technologies
SINGULUS TECHNOLOGIES AG
August 2017 - 17 -
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.
Sputtering
SINGULUS - Innovations for New Technologies
SINGULUS TECHNOLOGIES AG
August 2017 - 18 -
SELENIUS Vacuum Evaporation System for
CIGS Thin Film Modules
SINGULUS TECHNOLOGIES AG
August 2017 - 19 -
TENUIS II Buffer Deposition for CIGS Thin Film
Modules
SINGULUS TECHNOLOGIES AG
August 2017 - 20 -
Expectations for Investments for CIGS-Solar
CIGS
CIGS
CIGS
3 GW
CIGS-Investments in China
1.5 GW
0.6 GW
SINGULUS TECHNOLOGIES AG
August 2017 - 21 -
SDR/ Texturing
a-Si Front/Rear
ITO Front/Rear
Metal Rear *
Print Front
Curing (Annealing)
Test Sorting
Wet PECVD PVD Sputter PVD Sputter Thermal
SINGULUS Offers the Key Production Steps for Heterojunction
SILEX II Wet Processing and GENERIS PVD Sputtering Equipment
SINGULUS TECHNOLOGIES AG
August 2017 - 22 -
SILEX II Wet Processing System for
Heterojunction Solar Cells
SINGULUS TECHNOLOGIES AG
August 2017 - 23 -
GENERIS PVD Inline Sputtering Equipment
SINGULUS TECHNOLOGIES AG
August 2017 - 24 -
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
• Over 220 Blu-ray systems installed base
• Ready for 100 GB Ultra HD Blu-ray
• Billions of discs produced around the world lead to
service & maintenance business
SINGULUS TECHNOLOGIES AG
August 2017 - 25 -
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
August 2017 - 26 -
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
August 2017 - 27 -
Agenda
1
2
Overview
3
SINGULUS TECHNOLOGIES Segments & New Business Areas
4 SINGULUS TECHNOLOGIES Outlook
Financials
SINGULUS TECHNOLOGIES AG
August 2017 - 28 -
Financial Overview 1st HY 2017
in million €
1st Half Year
2016
1st Half Year
2017
Gross Revenue 24.6 48.3
Order Intake 131.5 26.1
Order Backlog (30.06.) 133.5 87.7
EBIT -9.3 2.5
EBITDA -8.1 3.5
EBT 29.3 1.7
Profit for the Period 29.2 1.7
Operating Cash Flow -5.0 -15.1
Shareholders’ Equity (30.06.) 17.6 13.6
Equity Ratio (%) 23.7 17.0
Total Assets (30.06.) 74.2 79.8
SINGULUS TECHNOLOGIES AG
August 2017 - 29 -
Profit & Loss Statement 1st HY 2017
in million €
1st Half Year
2016
1st Half Year
2017
Gross Revenue 24.6 48.3
Net Revenue 24.2 47.7
Gross Profit
(in % of Net Revenues)
4.3
(17.8 %)
14.3
(30.0 %)
OPEX (Total) -13.6 -11.8
− R+D
− Sales & Customer Service
− GM & A
− Other Income/Expenses
-3.8
-5.8
-4.4
0.4
-2.6
-5.4
-4.1
0.3
EBIT -9.3 2.5
Profit for the Period 29.2 1.7
EPS basic (in €) 67.53 0.21
SINGULUS TECHNOLOGIES AG
August 2017 - 30 -
Cash Flow Development
in million € 6M 2016 6M 2017
Cash flow from Operating Activities -5.0 -15.1
Cash flow from Investing
Activities -0.6 -1.2
Cash flow from Financing Activities -1.0 22.4
Total Cash flow -6.6 6.1
Cash and Cash Equivalents at the
Beginning of the Period 19.0 18.5
Effect of Exchange Rate Changes 0.0 -0.2
Cash and Cash Equivalents at the
End of the Period 12.4 24.4
SINGULUS TECHNOLOGIES AG
August 2017 - 31 -
Balance Sheet
million € Dec. 2016 June 2017
Cash and Cash Equivalents 18.5 24.4
Restricted Cash 21.0 2.2
Total Current Receivables and other Assets 18.6 15.9
Total Inventories 22.0 21.1
Non Current Assets 16.1 16.2
Total Assets 96.2 79.8
Total Current Liabilities 54.1 36.6
Total Non-Current Liabilities 30.0 29.6
Total Equity 12.1 13.6
Equity and Liabilities 96.2 79.8
SINGULUS TECHNOLOGIES AG
August 2017 - 32 -
Dec. 2016 June 2017 Δ
SINGULUS Group 318 312 -6
Domestic 278 272 -6
Abroad 40 40 -
Employees
SINGULUS TECHNOLOGIES AG
August 2017 - 33 -
Sales Split by Products
1st Half Year 2016 1st Half Year 2017
Semiconductor
6.4% Optical Disc
18.2%
Solar
75.4%
Semiconductor
8.9%
Optical Disc
39.4%
Solar
51.7%
SINGULUS TECHNOLOGIES AG
August 2017 - 34 -
Sales Split by Region
1st Half Year 2016 1st Half Year 2017
Africa & Australia
0.6% Europe
11.6%
Americas
22.2%
Asia
65.6%
Africa & Australia
2.4%
Europe
24.8%
Americas
55.3%
Asia
17.5%
SINGULUS TECHNOLOGIES AG
August 2017 - 35 -
Agenda
1
2
Overview
3
SINGULUS TECHNOLOGIES Segments & New Business Areas
4
Financials
SINGULUS TECHNOLOGIES Outlook
SINGULUS TECHNOLOGIES AG
August 2017 - 36 -
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
Disclaimer:
For the current year SINGULUS TECHNOLOGIES projects a doubling of sales pursuant to IFRS compared with the previous year. The operating result
(EBIT) for the Group should come in at a low, positive double-digit million range. The forecast for the annual targets for 2017 mainly rests on the
assumption that the majority of the concluded delivery contracts, which are currently booked as order backlog, can be finished as scheduled within the
course of the business year. The prerequisite for this is that the respective, contractually agreed prepayments are received in a timely manner. For the two
major orders reported in 2017 with additional customers for CIGS production machines, the prepayments were received in the quarter under review or
shortly thereafter and the assembly of the machines has begun. The pending prepayments for the second site in the context of the major order placed by
the Chinese customer CNBM have to be made during the third quarter for the order to make sufficient sales and earnings contributions within the course of
the year. Furthermore, additional orders in the area of wet-chemical machines are anticipated for 2017. In particular with respect to wet-chemical machines,
the company is subject to high competitive pressures.
If the order intake or the resulting prepayments by customers for the business years 2017 and 2018 assumed within the framework of the forecast should
fall significantly short of expectations, this could potentially threaten the survival of the company. Furthermore, we refer to the risk of a 50% depletion of the
nominal capital of the SINGULUS TECHNOLOGIES AG pursuant to HGB accounting principles,
which is detailed in the Risk Report.
SINGULUS TECHNOLOGIES AG
August 2017 - 37 -
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.