Report of the Executive Board to the Annual General Meeting - Reorganization of the Financing - Correction of the Forecast
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EQS-Ad-hoc: SINGULUS TECHNOLOGIES AG / Key word(s): Financing/Change in Forecast Publication of inside information pursuant to SINGULUS TECHNOLOGIES - Report of the Executive Board to the Annual General Meeting - Reorganization of the Financing - Correction of the Forecast Kahl am Main, July 17, 2024 - On July 25, 2024, the Executive Board will inform the Annual General Meeting about the following two matters, which will be available in advance on the Company's website at https://www.singulus.com/de/hauptversammlung/ as of today as part of the published speech of the Executive Board. On March 29, 2024, Triumph Science and Technology Group Co. Ltd. based in Beijing ("Triumph"), the Company's largest single shareholder and important customer, had declared in writing to SINGULUS TECHNOLOGIES that it would provide the Company with sufficient liquid funds to meet its financial obligations until the conclusion, repayment or successful settlement of certain currently existing financing components and contracts, but no later than the end of March 31, 2025. SINGULUS TECHNOLOGIES is currently negotiating with Triumph about the reorganization of the entire financing. However, no agreement has been reached on this for several months. Against the background of payment obligations due in the coming weeks, SINGULUS TECHNOLOGIES has now requested Triumph to finally comply with this written voluntary commitment in coordination with the company by August 23, 2024. Should Triumph not fulfill this obligation in due time, depending on the development of other incoming payments, SINGULUS TECHNOLOGIES may face liquidity concerns, which in the worst case could jeopardize the ongoing operation of the company At the Annual General Meeting, the Executive Board will present the preliminary key financial figures for the first half of 2024 and an updated forecast for the current fiscal year. Incoming orders worth € 52.3 million were recorded in the first six months of the year. The order backlog amounted to € 70.4 million as at June 30, 2024. Turnover for the reporting period amounted to € 40.7 million. The operating result (EBIT) for the first six months was positive at € 1.2 million. The company has revised its forecast for the current financial year to sales in the range of € 95.0 million to € 105.0 million. EBIT of between € 3.0 million and € 6.5 million is expected to be achieved. For further background, the company refers to the documents for the Annual General Meeting on July 25, 2024, which will be available on the company's website at https://www.singulus.com/de/hauptversammlung/ from today. SINGULUS TECHNOLOGIES AG, Hanauer Landstraße 103, Contact: Maren Schuster, Investor Relations, Tel.: + 49 (0) 160 9609 0279 Bernhard Krause, Unternehmenssprecher, Tel.: +49 (0) 172 833 2224
End of Inside Information
17-Jul-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | SINGULUS TECHNOLOGIES AG |
| Hanauer Landstrasse 103 | |
| 63796 Kahl am Main | |
| Germany | |
| Phone: | +49 (0)1709202924 |
| Fax: | +49 (0)6188 440-110 |
| E-mail: | bernhard.krause@singulus.de |
| Internet: | www.singulus.de |
| ISIN: | DE000A1681X5, DE000A2AA5H5 |
| WKN: | A1681X, A2AA5H |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1948583 |
| End of Announcement | EQS News Service |
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1948583 17-Jul-2024 CET/CEST
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