PVA TePla AG / Dissemination of a Voting Rights Announcement transmitted by DGAP
Forecast adjustment PVA TePla AG, Wettenberg, a specialist for crystal-growing, vacuum and high-temperature systems, has adjusted its previous consolidated sales revenues and EBIT forecast for fiscal 2013. The Management Board today expects processing of orders impacting on sales revenues to be delayed
PVA TePla AG / Key word(s): Change in Forecast
17.12.2013 18:28
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.
---------------------------------------------------------------------------
Forecast adjustment
PVA TePla AG, Wettenberg, a specialist for crystal-growing, vacuum and
high-temperature systems, has adjusted its previous consolidated sales
revenues and EBIT forecast for fiscal 2013. The Management Board today
expects processing of orders impacting on sales revenues to be delayed
until 2014. This particularly relates to an order from the solar market.
According to current estimates, the pro rata realization of sales revenues
and earnings assumed for this order according to the
percentage-of-completion (PoC) method in line with IFRS, which was
originally planned for the fourth quarter of 2013, will now not take place
until 2014. Consequently, the Management Board expects revenues below the
previously forecast range of EUR 75 million to EUR 85 million. The new
forecast is EUR 60 million to EUR 65 million. EBIT is expected to total EUR
-9 million to EUR -10 million due to the lack of sales revenues - after
restructuring expenses. The previously published forecast assumed a
slightly positive EBIT figure - before restructuring expenses.
Business figures forecast for 2014
The plans of the Management Board for fiscal 2014 envisage consolidated
sales revenues of between EUR 90 million and EUR 100 million. Taking into
account the major orders currently under negotiation as well as the planned
service business, the order backlog expected as at December 31, 2013
already covers 60% of sales revenues for 2014. The Management Board
continues to expect a positive cash flow, an equity ratio of 55% and a
leverage ratio (financial liabilities in relation to balance-sheet equity)
of less than 15%. The special measures undertaken in 2013 were financed
from available cash and cash equivalents. A low single-digit EBIT margin of
around 2% to 4% is targeted.
For further information please contact:
Dr. Gert Fisahn
Investor Relations
PVA TePla AG
Phone: +49(0)641/68690-400
gert.fisahn@pvatepla.com
www.pvatepla.com
17.12.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------