Singulus Technologies : 12-08-2020 Results 1st half of 2020

First Half-Year 2020

August 12, 2020

Worldwide Connected, Close to the Markets, Close to the Customer Base

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 2 -

Headquarter

Kahl am Main, Germany

France

North America

Sausheim

Production Site

Fürstenfeldbruck (Munich)Germany

• Location HQ: Kahl am Main

(near Frankfurt), Germany

• Established: 1995 (Buyout at Merger

Balzers/Leybold)

• IPO:1997

• Employees: 354

Windsor

Subsidiaries & Agents
Worldwide	Latin America
	Sao Paulo
Headquarter

Subsidiaries/Sales & Services

Production Site Fürstenfeldbruck (Munich)

Agents

China

Shanghai

Asia Pacific

Singapore

Taiwan

Taipeih

SINGULUS TECHNOLOGIES

Uncertainties Concerning Corona COVID-19 Pandemic

Restrictions

• Travelling to China nearly impossible and other travel restrictions still ongoing
• Limitations of sales activities and no installation and commission of equipment
• Production limited due to supply chain disruptions
• Delayed ordering for all segments because partial shutdowns effect customers

Bright spots

• Containment of virus in China
• Resumption of production and activities in China
• Global easing of restrictions
• Central banks provide ample liquidity

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 3 -

No final assessment of the implications possible at the moment

Management closely monitoring situation to implement additional countermeasures if necessary

Financial Key Figures

	1st Half-Year		1st Half-Year
in million €	2019		2020
Revenues	44.1		16.2
Order Intake	27.1		66.9
Order Backlog (30.06.)	49.0		77.0
EBIT	1.6		-14.3
EBITDA	3.6		-12.0
Result before Tax	0.5		-15.4
Result for the Period	0.0		-15.0
Operating Cash Flow	-5.8		-4.7
Shareholders' Equity	19.8		-7.9
Total Assets	99.6		72.4

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 4 -

Profit & Loss Statement

	1st Half-Year		1st Half-Year
in million €	2019		2020
Gross Revenues	44.1		16.2
Net Revenue	43.6		16.0
Gross Profit	14.1		-0.6
(in % of Net Revenues)	(32.3 %)		(-3.8 %)
R & D	-3.0		-4.5
Sales & Customer Service	-5.2		-5.0
GM & A	-4.2		-4.4
Other Income/Expenses	-0.1		0.2
OPEX	-12.5		-13.7
EBIT	1.6		-14.3
(in % of Net Revenues)	(3.7 %)		(-89.4 %)
Net Result	0.0		-15.0
EPS (basic in €)	0.00		-1.69

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 5 -

Profit & Loss Statement Second Quarter 2020 Versus 2019

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 6 -

	2nd Quarter		2nd Quarter
in million €	2019		2020
Gross Revenues	23.3		5.3
Net Revenue	23.0		5.3
Gross Profit	7.7		-1.5
(in % of Net Revenues)	(33.5 %)		(-28.3 %)
R & D	-1.6		-2.7
Sales & Customer Service	-2.8		-2.3
GM & A	-2.4		-2.3
Other Income/Expenses	-0.4		0.3
OPEX	-7.2		-7.0
EBIT	0.5		-8.5
(in % of Net Revenues)	(2.2 %)		(-160.4 )
Net Result	-0.2		-8.4
EPS (basic in €)	-0.02		-0.94

• Increased R&D: investment for future products
• Decreased travel & marketing costs
• Prior year low due to one-time effects

Breakdown of OPEX and Realized Cost Savings in the Second Quarter 2020 Versus 2019

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 7 -

OPEX by category

Personal expenses

(55%)

Materials costs

(35%)

Depreciation

(10%)

Cost savings in		Cost savings in
Q2		%

€ 0.6 million		-20 %

€ 0.5 million		-18 %

-/--/-

Balance Sheet

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 8 -

in million €	31.12.2019		30.06.2020
Available Cash	14.8		6.4
Restricted Cash	4.4		4.1
Total Current Receivables and Other Assets	16.8		14.4
Total Inventories	15.5		15.5
Non Current Assets	32.2		32.0	In the period after the completion of the reporting period
				until July 31, 2020, further payments from the machine
Total Assets	83.7		72.4
	activities with a volume of € 14.2 million were received.
Total Current Liabilities	38.2		43.5
Total Non-Current Liabilities	38.5		36.8
Total Equity	7.0		-7.9
Equity and Liabilities	83.7		72.4

Cash Flow Development 1st Half-Year

	1st Half-Year		1st Half-Year
in million €	2019		2020
Cash Flow from Operating Activities	-5.8		-4.7
Cash Flow from Investing Activities	-2.0		-1.9
Cash Flow from Financing Activities	4.3		-1.7
Total Cash Flow	-3.5		-4.9
Cash and Cash Equivalents at the Beginning of
the Period	13.5		14.8
Effect of Exchange Rate Changes	0.1		-0.1
Cash and Cash Equivalents at the Beginning of
the Period	10.1		6.4

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 9 -

Employees

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 10 -

					Several initiatives were used to cut costs:
		31.12.2019		30.06.2020	•	Decrease of overtime
					•	Short term work
SINGULUS Group	+3	351		354
	• Reduction of temporary staff
Domestic	+4	296		300
Abroad	-1	55		54

Sales Split by Segments 1st Half-Year 2020

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 11 -

14.2 %

Semiconductor

42.6 %	Life Science

43.2 %Solar

		Life		Semi-	1st Half-Year 2019
Solar		Science		conductor	Solar	65.8 %
					Life Science	29.0 %
					Semiconductor	5.2 %

Sales Split by Region 1st Half-Year 2020

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 12 -

43.8 %Europe

20.4 % Americas

0.6 %

Africa & Australia

35.2 %	Asia

1st Half-Year 2019

Asia66.5 %

Americas16.1 %

Europe17.2 %

Africa & Australia

0.2 %

Annual Solar PV Markets 2020-2024

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 13 -

CNBM

Announced Steps of Investment for CIGS

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 14 -

1.5 GW

1.5 GW

1.5 GW

1.5 GW

City of Bengbu,	City of Meishan,	City Xuzhou,	City Weihai,
Province Anhui	Province Sichuan	Province Jiangsu	Province Shandong
1.5 GW	1.5 GW	1.5 GW	1.5 GW

2nd step

LOI

300 MW

1st step	1st step	1st step	1st step
Order	Order	Order	300 MW
in discussion
300 MW	150 MW	150 MW

Order for 150 MW signed

January 15, 2020

SINGULUS TECHNOLOGIES Production Systems for Thin-film Solar Cells CIGS & CdTe

Production Equipment for CIGS & CdTe

• Long experience in equipment technology
• Market leader for CIGS equipment
• Excellent experience for sputtering & evaporation systems
• Over 850 sputtering systems in the market

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 15 -

SINGULUS TECHNOLOGIES Production Systems for Heterojunction and TopCon Solar Cells

Sputtering & Wet Processing Equipment for High Performance Solar Cells

• All systems in the market for daily cell production
• High cell & module efficiency
• Largest market share
• Advanced technology potential
• Lower capex
• Potential for cell efficiency over 25 %

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 16 -

Objectives in 2020/2021

Recovery of order intake and increase in sales and earnings influenced by COVID-19

Solar

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 17 -

• Extend leadership in Thin-film Solar (CIGS/CdTe)
• Expand customer base for Heterojunction solar cells

Semiconductor

• Maintain leading position in magnetic films, e.g. Magnetic Sensors, MRAM
• Expand presence in production environment
• Grow into additional applications such as Inductors, MEMS, RF-Filters, LED, Power Electronics
• Grow market share for wet cleaning, etching and drying in semiconductor and electronics industry

Life Science

Medical Technology

• Addressing of new applications/costumers for production system for medical technology Decorative Coatings
• Intensive marketing of the existing machine platform for cosmetics, consumer goods & automotive New Applications
• Introduction of sputtering & wet processing equipment for new applications/markets

Contact

SINGULUS TECHNOLOGIES AG

August 12, 2020 - 18 -

SINGULUS TECHNOLOGIES AG

Hanauer Landstrasse 103

D-63796 Kahl/Main

Dr.-Ing. Stefan Rinck, President and CEO

[e-mail]

Markus Ehret, CFO

[e-mail]

Dr. rer. nat. Christian Strahberger, COO [e-mail]

Maren Schuster, Head of Investor Relations

Tel: [phone]

[e-mail]

Bernhard Krause, Communications Worldwide

Tel: [phone]

[e-mail]

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.