Singulus borrows about 22.75 million euros to repay Triumph obligations as stake sale closes
Key Facts
Singulus Technologies announced in a statement published via pressetext on 21 October 2026 that it had secured a collateralised, subordinated loan of approximately 22.75 million euros to repay all outstanding obligations to Triumph and its affiliates. The repayment covers obligations arising from loans the company received, as well as advance payments received for projects. Singulus said repaying the advances removes the associated supply obligations, meaning the settlement also affects the contracts for those projects. The loan was provided by the same technology company that previously financed Singulus in March 2026, according to the statement. The new financing thus extends a lending relationship that began with this lender earlier in the year. The financing relationship with Triumph dates back several years, with Singulus stating in its announcement on reorganising its financing structure that Triumph provided it with 20.0 million euros during the 2023 financial year.
Alongside the loan announcement, Singulus confirmed the completion of the sale of Triumph's roughly 16.75% stake to a German investor, transferring ownership of those shares to the buyer. The statement said Dinan Zhu, Triumph's representative on the supervisory board, would resign following the share sale, with the resignation taking effect "immediately". The company attributed the declining economic scale of its joint project business to developments in the markets in which the two parties operate and their strategic directions. It described the trajectory of the joint production equipment project business as showing a "continuous decline". Meanwhile, it said cooperation would continue on existing projects, including servicing existing production facilities. Cooperation will also cover selected joint projects between the two parties, according to the statement, which combined the announcement of the financial settlement, the stake transfer and the associated changes to Triumph's representation.
Singulus produces machinery and systems for thin-film coating and surface treatment, according to its official website. The company describes its business as developing "innovative machinery and systems for efficient thin-film coating and surface treatment processes". The markets it serves include solar energy and semiconductors, among the applications for its production equipment and systems. It also serves medical technology, batteries and hydrogen, giving its sector portfolio a range of industrial applications. The joint production equipment business with Triumph forms part of the operational relationship that the company said had declined in economic scale as the two parties' markets and strategic directions evolved.
The financing and stake transfer announcement follows an improvement in Singulus' results in the first half of 2026, according to its disclosure for that period. Revenue rose to 45.3 million euros from 31.3 million euros in the first half of the previous year. Earnings before interest and taxes swung to a profit of 2.7 million euros from a loss of 1.3 million euros in the corresponding period. New orders rose to 37.9 million euros from 21.1 million euros a year earlier. The gross profit margin also increased to 33.5% from 31.9% in the corresponding period, according to the half-year results. For the full year, the company maintained its 2026 revenue forecast of between 80 million and 83 million euros, according to Investing.com's coverage of the half-year earnings call.
In a separate management change announced alongside the financing and share transaction, the supervisory board agreed with Markus Ehret to terminate his employment contract at the end of the year. The agreement also ends his executive board membership on the same date, according to the company's statement on the management change. Ehret will remain available during the handover of responsibilities to a suitable successor. The company's calendar sets its next financial disclosure for 11 November 2026. It is scheduled to publish its third-quarter report that day, following the announcement of its half-year results and the transaction to settle its obligations to Triumph.