- Q1 sales revenues rise to EUR 58.5 million
- Order backlog remains very high at EUR 327.2 million
- EBITDA margin improves to 12.3% (previous year: 10.6%)
- Growth prospects undiminished, forecast confirmed
- Management Board member Dr. Andreas Mühe will leave the company as planned at the end of his contract on June 30, 2023
- Digitalization expert Dr. Myriam Jahn to join the Supervisory Board
Wettenberg, May 4, 2023. The PVA TePla Group enjoyed a dynamic start to the fiscal year 2023. The technology provider, which produces high-tech equipment, reported sales revenues growth of 75% in the first quarter to EUR 58.5 million and a far 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,” said 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 extremely well thanks to continued high demand: Sales revenues in the Semiconductor Systems segment climbed by 67% to EUR 42.0 million in the first three months of this year, compared to EUR 25.1 million in the first quarter of 2022. The segment's operating result (EBIT) came to EUR 6.0 million (Q1 2022: EUR 1.6 million). Even stronger growth was seen in the Industrial Systems business unit, where sales revenues soared by 101.9% to EUR 16.5 million (Q1 2022: EUR 8.2 million). The segment's operating result (EBIT) came to EUR 1.0 million (Q1 2022: EUR 0.6 million).
All in all, earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 7.2 million in the period under review after EUR 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 EUR 5.5 million remains, set against EUR 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 EUR 327.2 million as of the reporting date (previous year: EUR 311.1 million). This reflects the stable demand and high visibility of the business. EUR 228.3 million of the order backlog was attributed to the Semiconductor Systems business unit (previous year: EUR 237.6 million) and EUR 98.9 million to the Industrial Systems business unit (previous year: EUR 73.5 million). The Group’s incoming orders were up slightly on the previous year’s figure at EUR 61.7 million (Q1 2022: EUR 61.4 million).
Guidance for year as a whole confirmed
PVA TePla benefits from a number of different megatrends. 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 digitalization, are accelerating the development of new materials and technologies.
Given this, PVA TePla 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 EUR 240 million and EUR 260 million and EBITDA between EUR 36 million and EUR 40 million.
Management Board changes
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, Jalin 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 fully in line with a more modern organizational 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 GmbHs, whose outstanding work plays a key role in the Group’s strong development.
Expansion of Supervisory Board
In connection with governance modernization, the PVA TePla AG Supervisory Board is also bringing additional expertise on board. The Annual General Meeting on June 28, 2023 will propose expanding the board and electing Dr. Myriam Jahn as a new member of the Supervisory Board. The established digitalization expert will draw on her experience and specialist knowledge primarily to support strategic orientation in the areas of software and automation. The 54-year-old executive also has extensive knowledge of the semiconductor industry and engineering. She has previously held various positions of responsibility at leading digitalization 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.