Singulus Technologies (SNG) Q4 2024 earnings summary

Executive summary

• Revenue reached €75.9 million in 2024, up slightly from €73.2 million in 2023, but EBIT remained negative at €-0.7 million, though improved from €-10.1 million the prior year.

• The company missed its revised sales and EBIT guidance due to project delays in the Solar and Semiconductor segments, with a key order from China postponed to 2025.

• Order intake rose sharply to €77.2 million (2023: €43.1 million), and order backlog stood at €77.4 million at year-end.

• The group remains highly dependent on large projects and major customers, especially in China, and faces significant going concern risks if planned payments and new orders are delayed.

Financial highlights

• Gross margin improved to 33.6% (2023: 22.3%) due to a favorable product mix.

• Net loss for the year was €-5.4 million (2023: €-9.8 million); EPS was €-0.61 (2023: €-1.10).

• Cash flow from operating activities was positive at €12.7 million (2023: €-26.3 million), mainly from advance payments.

• Total assets decreased to €58.5 million (2023: €71.8 million); equity remained negative at €-50.0 million.

• Cash and cash equivalents at year-end were €11.3 million.

Outlook and guidance

• 2025 sales are forecast at €105–115 million, with EBIT expected in the mid-single-digit million range, driven by the Semiconductor and Life Science segments.

• 2026 is expected to see a significant revenue increase and EBIT in the low double-digit million range.

• The company’s outlook is highly dependent on timely customer payments and securing new major projects; failure to achieve these could threaten its existence.