PVA TePla AG / Dissemination of a Voting Rights Announcement transmitted by DGAP
The Management Board of PVA TePla AG today revised its forecast for consolidated sales revenue and operating earnings for the year as whole. Down-payments for orders received from Thailand and Russia in 2013 for the delivery of crystal growing systems have not been received to date, hence the Management
PVA TePla AG / Key word(s): Profit Warning
30.05.2014 16:00
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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The Management Board of PVA TePla AG today revised its forecast for
consolidated sales revenue and operating earnings for the year as whole.
Down-payments for orders received from Thailand and Russia in 2013 for the
delivery of crystal growing systems have not been received to date, hence
the Management Board has resolved to strike these orders from the order
backlog. The further progress and timing of these projects cannot be
appraised on account of the current political and economic uncertainties in
Thailand and Russia. In connection with the adjustment of the order
backlog, the Management Board is therefore forecasting consolidated sales
revenues for fiscal 2014 of around EUR 70 - 80 million (previously: EUR 90
to EUR 100 million). Operating earnings (EBIT) of around EUR -6 million
(previously: EBIT margin of between 2% and 4%) and EBITDA of around EUR -3
million are expected. The impact on earnings consists of missing earnings
contributions by smaller consolidated sales revenues and by order
deteriorations of projects, mainly from the solar industry. To further
optimize costs, the Management Board has resolved to close the operating
and production facilities for the construction of float-zone crystal
growing systems Frederikssund, Denmark, by the end of 2014 and to continue
this business from Wettenberg. The costs expected to be incurred in
connection with this amount to EUR 1.3 million and are included in the
earnings guidance above.
Based on this forecast, the Management Board notes that the Company -
having an expected equity ratio as of June 30, 2014 of approximately 50% -
has a sufficient financial structure.
As a result of the further concentration on the Wettenberg and Jena sites
and other measures to cut overheads, the break-even level for revenue will
be lowered again following the restructuring of last year and will be
around EUR 73 million in the future.
For further information, please contact:
Dr. Gert Fisahn
Investor Relations
PVA TePla AG
Tel: +49(0)641/68690-400
gert.fisahn@pvatepla.com
www.pvatepla.com
30.05.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: PVA TePla AG
Im Westpark 10-12
35435 Wettenberg
Germany
Phone: 0641/686900
Fax: 0641/68690800
E-mail: info@pvatepla.com
Internet: www.pvatepla.com
ISIN: DE0007461006
WKN: 746100
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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