Singulus Experiences Strong Q1 Performance, Maintains Steady Outlook

Singulus Technologies reported a solid performance in the first quarter of 2024 with sales rising 26% year-over-year to €20.6 million, surpassing estimates of €18.6 million. The company's Earnings Before Interest and Taxes (EBIT) also improved to €0.6 million from a negative €0.9 million in the same quarter last year. This growth was primarily driven by significant advances in its Solar and Life Sciences segments, with the latter increasing by 50%.

The company noted a substantial increase in order intake, which surged by 136% year-over-year to €33.2 million, largely fueled by robust demand in the semiconductor sector. Despite challenging conditions, management remains confident, reaffirming its guidance for sales between €120 million and €130 million, and a low double-digit million euro range for EBIT for the fiscal year.

In addition, Singulus secured the refinancing of a €10 million loan and is discussing further financial strategies to support its working capital needs and debt repayments scheduled for the current fiscal year. The company's mid-term prospects appear stable with potential for significant orders in the solar and emerging technology markets.