PVA TePla AG, headquartered in Wettenberg, Germany, has reported its financial results for the first nine months 2020. Despite a challenging overall economic environment, created primarily by the coronavirus (COVID-19) pandemic, PVA TePla stated that it had performed very well. In a strong third quarter, the group increased both sales revenues and earnings significantly compared to the two previous quarters.
At €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 was said to have improved over-proportionately; 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 €130 million and an operating result (EBITDA) in the scale of €17 million.
“Our good result in the first three quarters is all the more pleasing given that the corona [COVID-19] pandemic has caused many uncertainties and obstacles in recent months,” stated Alfred Schopf, CEO of PVA TePla. “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.
At €96.9 million in the first three quarters, the PVA TePla Group exceeded the previous year’s level of €96.2 million in terms of sales revenues. The Semiconductor Systems division made a significant contribution to this, increasing sales revenues to €64.2 million (previous year: €62.6 million). As in previous quarters, orders for the supply of crystal growing systems and ultrasonic measuring systems for semiconductor production were among the most important sales drivers. With sales revenues of €32.7 million, the Industrial Systems division achieved the previous year’s level (€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 €13.1 million (previous year: €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 €10.0 million compared to €9 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 €64.4 million (December 31, 2019: €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 €22.6 million (December 31, 2019: €21 million).
With a high order backlog of €137 million (December 31, 2019: €170.6 million), the group reported that it is comfortably positioned for the upcoming fiscal year. Despite the challenging market environment, orders amounting to €63.5 million were obtained in 2020.
At the quarterly reporting date, the Semiconductor Systems division had an order backlog of €92.1 million (December 31, 2019: €114.1 million) and incoming orders of €42.7 million (previous year: €70.8 million). Order backlog in the Industrial Systems Division amounted to €45 million (December 31, 2019: €56.5 million). The division recorded incoming orders of €20.9 million (previous year: €40 million).
For the current 2020 financial year, the group expects sales revenues in the scale of €130 million and an operating profit (EBITDA) in the scale of €17 million.