PVA TePla Remains on Track for Growth in Q3 and Confirms Guidance

• Nine-month sales revenues up around 14% at EUR 131.0 million
• Order backlog increases by 34% to EUR 343.9 million
• EBITDA margin after nine months of 12.6% (previous year: 14.1%)
• Full takeover of MPA Industrie SA planned
• Guidance for full year 2022 as a whole confirmed

The PVA TePla Group maintained its successful business performance in the third quarter of the current fiscal year and boosted sales revenue growth in a challenging environment. Revenue climbed by 13.6% year on year in the first nine months of 2022 to EUR 131.0 million. Despite higher material and production costs, currency effects and non-recurring expenses for a development contract for a new generation of silicon crystal growing systems, the technology company generated a high operating margin (EBIT margin) of 10.0% (previous year: 11.0%).

“Given the challenging macroeconomic environment, we are very satisfied with our performance both in the third quarter and in the first nine months of the fiscal year. Our established market position – chiefly our technology expertise and first-class products – are the basis of PVA TePla’s success,” said Manfred Bender, CEO of PVA TePla.

The Semiconductor Systems segment accounted for 72% of sales revenues/EUR 94.8 million (previous year: 76% and EUR 87.5 million), with 28%/EUR 36.2 million generated in the Industrial Systems segment (previous year: 24% and EUR 27.8 million). This good performance in Semiconductor Systems was driven primarily by the high level of demand for crystal growing systems for the semiconductor wafer industry and metrology systems. In Industrial Systems, high-temperature heat treatment systems were particularly key to dynamic growth.

All in all, earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 16.5 million in the period under review after EUR 16.2 million in the first nine months of 2021. This corresponds to 12.6% of sales revenues compared with 14.1% in the previous year. After depreciation and amortization, the operating result (EBIT) amounted to EUR 13.1 million as against EUR 12.7 million in the same period of the previous year and the EBIT margin came to 10% compared to 11%.

Order backlog again on record level

The order situation remained good across all business units. At EUR 343.9 million (previous year: EUR 256.5 million), the order backlog reflects high demand and gives PVA TePla good visibility into 2025.

The Group’s order intake was again very high at EUR 191.3 million. The even higher previous year figure of EUR 246.1 million included a major order of EUR 95 million from Siltronic AG for the delivery of crystal growing systems.

MPA Industrie SA to be fully acquired

The pending complete takeover of the highly profitable engineering company MPA Industrie SA, based in Saint Jean Bonnefonds (France) in the fourth quarter 2022, marks another important step in the PVA TePla Group‘s strategy. MPA has extensive process expertise in silicon carbide ceramics, which are known for their outstanding temperature resistance, extreme hardness and light weight. By integrating MPA, the PVA TePla Group is strengthening its position in new and attractive growth sectors, such as the market for new types of turbine blades for aircraft engines.

Full-year guidance confirmed

Despite increased geopolitical and economic risks, the Management Board is confirming the growth forecast for 2022 as a whole with sales revenues in the range of EUR 170 million and EUR 180 million and an EBITDA between EUR 25 million and EUR 27 million.