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Singulus Technologies shares rose 94% to 24.60 euros in mid-afternoon European trading, their highest level in more than 10 years. The German engineering company announced a solar-cell contract with SpaceX alongside higher earnings for the first nine months of the year.
Singulus said Wednesday it signed the contract with SpaceX on Tuesday to manufacture heterojunction solar cells, a high-efficiency design using two different semiconductor materials. The cells are due to be delivered to SpaceX’s satellite manufacturing plant in Texas in the first half of 2027.
Orders in the initial part of the contract are valued at 60 million euros ($67 million) and are part of a strategic partnership with SpaceX, Singulus said.
For the first nine months of the year, revenue rose to 60.4 million euros from 44.3 million euros a year earlier. Earnings before interest and taxes (EBIT) were 1.2 million euros, compared with a loss of 2.5 million euros. Order intake doubled to 60.3 million euros from 30.9 million euros.
The company reaffirmed its full-year guidance for revenue of 83 million euros and EBIT in the low single-digit millions of euros. Singulus said it expects a significant portion of revenue and earnings to come from its solar segment.
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