PVA TePla announces senior management changes following dynamic start to the year
May 10, 2023
PVA TePla AG, headquartered in Wettenberg, Germany, whose operations include the production of sintering and thermal treatment technology for Powder Metallurgy processing, including Metal Injection Moulding (MIM), announced a ‘dynamic’ start to its 2023 fiscal year. The company reported a sales revenue growth of 75% in the first quarter to €58.5 million and a higher EBIT margin compared to the previous year, of 9.4% (Q1 2022: 6.9%).
“2023 has got off to an excellent start for us. Thanks to sustained high demand for our solutions, for example for the semiconductor and energy industry, today we can present outstanding quarterly figures and full order books,” stated Manfred Bender, CEO of PVA TePla AG.
Jalin Ketter, CFO and designated speaker of the Management Board added, “The figures from the first three months of the year confirm that we are maintaining our dynamic growth and on track to meet our targets for 2023.”
Once again, both PVA TePla business units performed well, attributable to high demand: Sales revenues in the Semiconductor Systems segment climbed by 67% to €42.0 million in the first three months of this year, compared to €25.1 million in the first quarter of 2022. The segment’s operating result (EBIT) came to €6.0 million (Q1 2022: €1.6 million). Stronger growth was seen in the Industrial Systems business unit, where sales revenues rose by 101.9% to €16.5 million (Q1 2022: €8.2 million). The segment’s operating result (EBIT) came to €1.0 million (Q1 2022: €0.6 million).
Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to €7.2 million in the period under review after €3.4 million in the comparative period. As a proportion of sales revenues, the EBITDA margin increased to 12.3% as against 10.2% in the previous year. Taking write-downs into consideration, an operating result (EBIT) of €5.5 million remains, set against €2.3 million in Q1 2022. This corresponds to a margin of 9.4% (Q1 2022: 6.9%).
Order backlog remains high
The order backlog of the PVA TePla Group increased to €327.2 million as of the company’s reporting date (previous year: €311.1 million). This is thought by the company to reflect the stable demand and high visibility of its business. €228.3 million of the order backlog was attributed to the Semiconductor Systems business unit (previous year: €237.6 million) and €98.9 million to the Industrial Systems business unit (previous year: €73.5 million). The group’s incoming orders were up slightly on the previous year’s figure at €61.7 million (Q1 2022: €61.4 million).
Guidance for year as a whole confirmed
PVA TePla has stated that it benefits from the steady increase in the demand for semiconductors and power electronics in e-mobility, renewable energies and the resulting grid expansion, as well as advances in digitalisation. Given this, the company remains optimistic about the remainder of the year despite increased economic uncertainty. The management is confirming the growth forecast for as a whole with sales revenues between €240 million and €260 million and EBITDA between €36 million and €40 million.
Management board changes, leadership expansion
As part of changes to PVA TePla’s senior management, CFO Jalin Ketter and COO Oliver Höfer will take over the management of the Group from July 1, 2023. Starting in the summer, Ketter will also assume the position of spokesperson of the management board. As well as the previous CEO Manfred Bender, Dr Andreas Mühe will also leave PVA TePla as planned at the end of his contract on June 30, 2023.
A two-person senior management team is thought to be more fully in line with a modern organisational structure where management at the operating companies is gradually given more responsibility. The management board team will thus increasingly be supported by the managing directors of the companies, whose work is said to play a key role in the group’s development.
In connection with governance modernisation, the PVA TePla AG Supervisory Board is also bringing additional expertise with the proposed election of Dr Myriam Jahn as a new member of the Supervisory Board, which will take place at the Annual General Meeting on June 28, 2023. The established digitalisation expert will draw on her experience and specialist knowledge primarily to support strategic orientation in the areas of software and automation.
Dr Jahn also has extensive knowledge of the semiconductor industry and engineering. She has previously held various positions of responsibility at leading digitalisation and automation companies, such as the ifm Group, q.beyond AG and the Possehl Group. At present, she is the CEO of Possehl Digital GmbH. She has also been the Deputy Chairwoman of the supervisory board at SÜSS MicroTec SE since 2020.
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