In a challenging overall economic environment, PVA TePla again performed very well in the first nine months of 2020. In a strong third quarter, the Group increased both sales revenues and earnings significantly compared to the two previous quarters. At EUR 96.9 million after nine months, consolidated sales revenues are now slightly higher than in the same period of the previous year. The operating result EBIT has improved overproportionately. At 10.3%, the EBIT margin is in the double-digit range. For the current 2020 fiscal year, PVA TePla AG expects sales revenues in the scale of EUR 130 million and an operating result (EBITDA) in the scale of EUR 17 million.

"Our good result in the first three quarters is all the more pleasing given that the Corona pandemic has caused many uncertainties and obstacles in recent months," says Alfred Schopf, CEO of PVA TePla AG. "The fact that we have been able to stand our ground so successfully even under these challenging conditions shows how well positioned we are both in terms of products and structures. Our set of measures to increase profitability is also paying off.

Overproportional increases
At EUR 96.9 million in the first three quarters, the PVA TePla Group exceeded the previous year's level of EUR 96.2 million in terms of sales revenues. The Semiconductor Systems division made a significant contribution to this, increasing sales revenues to EUR 64.2 million (previous year: EUR 62.6 million). As in previous quarters, orders for the supply of crystal growing systems and ultrasonic measuring systems for the semiconductor production were among the most important sales drivers. With sales revenues of EUR 32.7 million, the Industrial Systems division achieved the previous year's level (EUR 33.6 million).

With a slight increase in business volume compared to the same period of the previous year, PVA TePla achieved a further significant qualitative improvement in earnings. The gross margin increased to 30.9% (previous year: 28.4%), while EBITDA of EUR 13.1 million (previous year: EUR 11.9 million) was higher than in the same period of the previous year, both in absolute terms and in percentage terms (13.5%; previous year: 12.3%). The operating result (EBIT) rose by more than 10% to EUR 10.0 million compared to EUR 9.0 million in the first three quarters of 2019. The EBIT margin at Group level was 10.3% (previous year: 9.4%) and thus double-digit.

By the increased profitability, PVA TePla's equity also rose to EUR 64.4 million (December 31, 2019: EUR 57.3 million). The equity ratio increased accordingly to 35.4% (December 31, 2019: 31.7%). The net financial position as of September 30, 2020 was EUR 22.6 million (December 31, 2019: EUR 21.0 million).

Good order situation for 2021
With a high order backlog of EUR 137 million (December 31, 2019: EUR 170.6 million), the PVA TePla Group is comfortably positioned and looks forward to the upcoming fiscal year with confidence. Despite the challenging market environment, orders amounting to EUR 63.5 million were obtained.

At the quarterly reporting date, the Semiconductor Systems division had an order backlog of EUR 92.1 million (December 31, 2019: EUR 114.1 million) and incoming orders of EUR 42.7 million (previous year: EUR 70.8 million). Order backlog in the Industrial Systems Division amounted to EUR 45.0 million (December 31, 2019: EUR 56.5 million). The division recorded incoming orders of EUR 20.9 million (previous year: EUR 40.0 million).

Medium to long-term growth trend intact
For the current 2020 financial year, the Group expects sales revenues in the scale of EUR 130 million and an operating profit (EBITDA) in the scale of EUR 17 million. With its innovative high-tech products and solutions, PVA TePla AG has a stable basis for further growth.

For further information, please contact:

Dr. Gert Fisahn
Investor Relations
PVA TePla AG
Phone: +49(0)641/68690-400
gert.fisahn(at)pvatepla.com 
www.pvatepla.com