SINGULUS TECHNOLOGIES
Eigenkapitalforum 2019 SINGULUS TECHNOLOGIES AG
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 2 -
Agenda
1 Overview
2
3
SINGULUS TECHNOLOGIES Segments
Financials
Solar Semiconductor Life Science
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 3 -
SINGULUS TECHNOLOGIES AG
Headquarter Kahl am Main
Production Facility Fürstenfeldbruck (Munich)
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 4 -
Taiwan Taipeih
China Shanghai
Worldwide Connected, Close to the Markets, Close to the Customer Base
Semiconductor: Over 180 systems installed
Energy: Over 6,000 MW production capacity
Optical Disc: Over 8,530 systems sold
Medical Technology: Market entry 2017 Over 5 systems sold
Consumer Goods: New POLYCOATER & DECOLINE II Over 10 systems sold
Headquarter Kahl am Main, Germany
Production Site Fürstenfeldbruck (Munich), Germany
France Sausheim
China Guangzhou
Asia Pacific Singapore
Legend: Headquarter Subsidiaries/Sales & Services Production Site Fürstenfeldbruck (Munich) Agents
SINGULUS TECHNOLOGIES Subsidiaries & Agents Worldwide
Latin America Sao Paulo
North America East & West Coast
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 5 -
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 EK-Forum 2019 - 6 -
Development and Market Introduction of New Systems
1996
Singular
Timaris I
Linea I
Semiconductor
PERC/PERT HJT TOPCon IBC
Thin-film CdTe CIGS
Solar
Life Science
TIMARIS III
CISARIS III
GENERIS PECVD Silex I
Skyline
Spaceline
Bluline I/Bluline II
Medical Technology Decorative Coating Optical Disc
2009 2010 2011 2012 2013 2015 2014 2016 2017 2018 2019 2020
GENERIS PVD
MEDLINE
Cisaris
Vistaris 900 Tenuis II Vitrum II
Helioscoater
Rotaris Timaris II
Vistaris1600 CIGS Pilot Line
Decoline II
Selenius
Silex II LINEX
Polycoater
Solare
Bluline III
WETBENCH Vacuum Deposition Wet Processing
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 7 -
SINGULUS TECHNOLOGIES – New Segment Structure
Solar • Crystalline Solar
_SILEX II _LINEX _GENERIS PVD _GENERIS PECVD
Solar
Life Science • 3D Coating POLYCOATER • 3D Production Line DECOLINE II • Medical Technology MEDLINE • Optical Coating BLULINE
Life Science
Semiconductor • Vacuum Deposition Systems
TIMARIS/ROTARIS • Wet Processing WETBENCH
Semi- conductor
• Thin film Solar _VITRUM _VISTARIS _HISTARIS _SELENIUS _CISARIS
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 8 -
Agenda
1 Overview
2
3
SINGULUS TECHNOLOGIES Segments
Financials
Solar Semiconductor Life Science
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 9 -
PV Learning Curve Further Decline in PV Selling Price
Source: VDMA/ITRPV Study No. 10, 2019
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 10 -
PV Heading in the Terrawatt Range
• Rapid introduction oft PV globally is fueled by availability of cost-competitive, distributed energy
• By 2018, about 500 GW have been installed
Source: Shell/Fraunhofer
54 TW
66 TW
22 TW
5 TW
Solar
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 11 -
PV Production Capacity Forecast Crystalline & Thin Film
106.468
130.547
152.360
175.013 186.733
0
20.000
40.000
60.000
80.000
100.000
120.000
140.000
160.000
180.000
200.000
2017 2018 2019 2020 2021
Annual in GW
Source: IHS 1/2019
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 12 -
PV Production Capacity Forecast Thin Film
3.189
4.246
4.950 5.670
6.757
0
5.000
10.000
15.000
20.000
25.000
2017 2018 2019 2020 2021
Annual in GW
Source: IHS 1/2019
CIGS
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 13 -
SINGULUS is Focusing on the Key Production Steps for PERC, Heterojunction & TOPCon
Key Production Steps • Wet Processing • PVD Sputtering • PECVD
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 14 -
Production Flow Heterojunction
SDR/Tex
PECVD
PVD
GENERIS PVD SILEX II
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 15 -
SILEX II Wet Processing System for Heterojunction Solar Cells
Features • High throughput performance up to 8,000wph • High uptime up to 95 % • Low breakage rate down to 0.01 % • Individual, flexible process sequencing • Ozone-enhanced cleaning and etching processes • Short and stable IPA-free texturing process • Appropriate and effective rinsing and drying
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 16 -
GENERIS PVD Inline Sputtering System for Heterojunction and TOPCon Solar Cells
Features • For transparent conductive oxide layers • Parallel processing of several substrates • Low cost of ownership and high uptime • Top down and bottom up sputtering • Sputter sequence configurable • Rotatable cylindrical magnetrons • Highest utilization of target material • Single end and double end version
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 17 -
SINGULUS TECHNOLOGIES - Focus on CIGS & High Performance Solar Cells
Crystalline Solar • High cell & module efficiency
• Easy process
• Advanced technology
• Production split on different locations
CIGS Thin Film • Excellent stability
• Good low light performance
• Light soaking effect
• Reduced sensitivity to overheating
• Tolerance to shading & low intensity
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 18 -
SINGULUS TECHNOLOGIES Provides all Key Production Steps for a CIGS Fab
Si barrier layer & Mo Back Contact >Sputtering
Scribing P1 > Laser
CdS or. alt. buffer Deposition >Buffer Layer Deposition 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
Selenization/ Sulphurization > CISARIS Oven
4
Selen Evaporation > Thermal evaporation
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 19 -
CNBM Announced Steps of Investment
Each 300 MW Fab comprises the following Machines: 10 CISARIS 2 VISTARIS 2 SELENIUS
City of Bengbu, Province Anhui
City of Meishan, Province Sichuan
City of Qinhuangdao, Province Hebei
City Xuzhou, Province Jiangsu
1st step Order 300 MW
1st step Order 300 MW
1.5 GW 1.5 GW 1.5 GW
2nd step LOI 300 MW
1st step LOI 300 MW
1st step 300 MW
in discussion
1.5 GW
Existing LOI for 300 MW
CIIE 2019 Agreement for 150 MW signed
Existing LOI for 5 CISARIS
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 20 -
Signing Ceremony during the Chinese Trade Fair CIIE in Shanghai
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 21 -
Innovative Inline Sputtering Systems for CIGS Thin Film Solar and other Applications
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 22 -
Total Announcements for CIGS in China - SINGULUS is a Major Player in the CIGS Market
Investments for CIGS in China: + CNBM 4 Fabs:
Announcements from CNBM for investments for 6 GW CIGS-Solar
+ Hanergy 1.5 GW, further
projects of about 5 GW announced
+ Manz/Shanghai Electric 344 MW, new projects
expected
1.5 GW
1.5 GW
1.5 GW
1.5 GW
44 MW
300 MW
300 MW
300 MW
300 MW
600 MW
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 23 -
Agenda
1 Overview
2
3
SINGULUS TECHNOLOGIES Segments
Financials
Solar Semiconductor Life Science
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 24 -
ROTARIS Vacuum Deposition System for Advanced R & D and Pilot Production
Thin film deposition for MRAM & sensor technology for automotive • Rotating substrate deposition • 200 mm and 300 mm wafer • Up to 12 PVD cathodes, target Ø 100 mm • Co-sputtering & DC/RF sputtering • Base pressure < 10-8 Torr • Hot wafer deposition
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 25 -
Wet Processing System for Electronics
Advanced Applications • Manual Wet Process Stations
• Semi- and Fully Automated Wet Process
• Quartz Tube- and Parts-Cleaning
• Total Metal Free Working
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 26 -
Agenda
1 Overview
2
3
SINGULUS TECHNOLOGIES Segments
Financials
Solar Semiconductor Life Science
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 27 -
Production Systems for Medical Technology
Applications for Medical Technology • Washing and pre-cleaning
• Cleaning & Etching
• Ultra- or megasonic cleaning
• Surface conditioning & modification
• Vacuum Coating & Electrochemical etching
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 28 -
DECOLINE II 3-Dimensional Coating Further System Sold to Automotive Industry
Advanced Surface Coating • 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 EK-Forum 2019 - 29 -
Decorative Coating with POLYCOATER Inline Sputtering System
Advanced Vacuum Coating Applications • Several systems sold
• Brilliant layers on 3-dimensional parts & individual design Inline metallization
• Fully automated processing & high productivity and flexibility
• Low cost of ownership & environment-friendly
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 30 -
Four BLULINE Sold for Data Storage
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 31 -
Agenda
1 Overview
2
3
SINGULUS TECHNOLOGIES Segments
Financials
Solar Semiconductor Life Science
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 32 -
Financial Overview 9 Months 2019
in million € 9 Months
2018 9 Months
2019
Revenues 91.0 61.5
Order Intake 74.6 33.9
Order Backlog (30.09.) 90.3 38.5
EBIT 4.0 0.3
EBITDA 5.7 3.3
Result before Tax 2.4 -1.3
Result for the Period 2.3 -1.9
Operating Cash Flow 13.9 -6.3
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 33 -
Profit & Loss Statement 9 Months 2019
in million € 9 Months
2018 9 Months
2019 Gross Revenue 91.0 61.5
Net Revenue 89.8 60.5
Gross Profit (in % of Net Revenues)
27.0 (30.1 %)
19.0 (31.4 %)
OPEX (Total) -23.0 -18.7
- R & D - Sales & Customer Service - GM & A - Other Income/Expenses
-5.3 -10.4
-7.0 -0.3
-4.7 -7.6 -6.5 0.1
EBIT 4.0 0.3 Result for the Period 2.3 -1.9 EPS basic (in €) 0.26 -0.21
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 34 -
Cash Flow Development
in million € 9 Months
2018 9 Months
2019
Cash Flow from Operating Activities 13.9 -6.3
Cash Flow from Investing Activities -3.3 -3.4
Cash Flow from Financing Activities -10.4 7.8 Total Cash Flow 0.2 -1.9
Cash and Cash Equivalents at the Beginning of the Period 27.2 13.5
Effect of Exchange Rate Changes 0.0 0.2
Cash and Cash Equivalents at the End of the Period 27.4 11.8
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 35 -
Balance Sheet
in million €
31.12.2018 30.09.2019 Cash and Cash Equivalents 13.5 11.8
Restricted Cash 14.3 7.9
Total Current Receivables and other Assets 35.5 25.2
Total Inventories 17.1 18.5
Total Non-Current Assets 23.7 29.9
Total Assets 104.1 93.3
Total Current Liabilities 50.2 37.6
Total Non-Current Liabilities 34.2 37.4
Total Equity 19.7 18.3
Equity and Liabilities 104.1 93.3
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 36 -
Employees
Dec. 2018 Sep. 2019 Δ
SINGULUS TECHNOLOGIES Group 343 358 +15
Domestic 293 303 +10
Abroad 50 55 +5
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 37 -
Sales Split by Segments
9M 2018 9M 2019
Semiconductor 5.4 %
Life Science 34.1 %
Solar 60.5 %
Life Science 20.5 %
Semiconductor 6.8 %
Solar 72.7 %
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 38 -
Sales Split by Region
9M 2018 9M 2019
Africa & Australia 0.3 %
Europe 22.1 %
Americas 17.4 %
Asia 60.2 %
Africa & Australia 0.8 %
Europe 23.1 %
Americas 8.5 %
Asia 67.6 %
SINGULUS TECHNOLOGIES AG EK-Forum 2019 - 39 -
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 [email protected]
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.