Kahl am Main (dpa / lby) – The mechanical engineering company Singulus has to postpone the long overdue submission of its 2020 annual balance sheet again. The auditing firm KPMG has requested additional documentation, which the company is unable to provide in the requested time. The Lower Franconian company announced this on Friday. The new release date is now July 23rd.
Management pointed out that the company’s creditors are allowed to call in loans if there are no audited financial statements. Singulus is therefore negotiating with the investors to avoid this.
Singulus manufactures machines for solar systems and medical technology, among other things. The company did very bad business in 2020 due to the corona virus, this year the lockdowns in China in particular had a negative impact on the economic situation, as well as the disrupted supply chains and the Ukraine war. The Management Board is therefore examining whether this can have an impact on the company’s going concern forecast.
Apart from that, the management emphasized that the order backlog is over 100 million euros. “From today’s perspective, the company has sufficient freely available liquid funds to secure its business activities.” Due to the lack of an annual report for 2020, there is no annual balance sheet for 2021 either.
