PVA TePla holds Annual General Meeting

The Chairman of the Management Board, Manfred Bender, explained the results of fiscal year 2021 and provided an outlook for the current year.

At the Annual General Meeting of PVA TePla AG (FWB: TPE) - a major producer of equipment for semiconductor manufacturing - the company's Management Board and Supervisory Board reported on the course of the 2021 financial year and answered questions from shareholders and shareholder representatives.

 PVA TePla received orders with a total volume of almost EUR 313 million worldwide in the past year. This is a great increase compared to the previous year's EUR 93 million, Bender said. The order backlog thus stood at EUR 283 million at the end of 2021. Consolidated sales for the year reached EUR 155.7 million. Compared to the previous year, this was an increase of 13.6%. The average, annual growth rate since 2017 amounted to 16%.

Sales revenue of the Semiconductor Systems division was increased to EUR 117.8 million in fiscal year 2021, while sales revenue of the Industrial Vacuum Systems division amounted to EUR 37.9 million and was thus below the previous year. In August 2021, PVA TePla AG, respectively its subsidiary PVA Crystal Growing Systems, had received the largest single order in the company's history amounting to EUR 95 million.

The company not only showed strong growth, but was also profitable. EBITDA increased from EUR 22.7 to 23.0 million, thus exceeding the forecast. EBIT rose to EUR 18.3 million.

As a result of the extremely positive business performance and the increased attractiveness, the price of PVA TePla shares had risen sharply over the course of the year. The price had finally peaked in the fall at over EUR 50. The company has been listed on the S-Dax since September 2021. In the context of global uncertainties caused by COVID and the Ukraine conflict, the share price has since fallen again to around EUR 19.

The first quarter of 2022 again set new records, Bender reported. Order intake was increased by 140% to EUR 61.4 million compared to the corresponding period of the previous year. The order intake of both business units has thus more than doubled. A contract was signed with ST Microelectronics for the supply of silicon carbide crystal growing equipment. ST Microelectronics is a leading global chip manufacturer. Semiconductor chips based on silicon carbide play a key role in EV, but also in renewable energies. With this order, PVA TePla AG takes a leading role as a manufacturer of crystal growing systems for silicon carbide wafers. Sales increased by 40% to EUR 33 million in the first quarter of 2022. The fact that the order backlog reached a new record level of EUR 311 million is only the logical consequence of this development, according to the CEO.

He also mentioned that, particularly at the end of last year and the beginning of this year, the Industrial Vacuum Systems business unit played a major role in this development. For example, the subsidiary PVA Industrial Vacuum Systems received several orders for diffusion bonding systems, which are needed, for example, to manufacture heat exchangers that are used in hydrogen filling stations and also in natural gas liquefaction plants.

This, he said, is a typical example of forward-looking materials that are produced in the systems developed by PVA TePla and that enable new technologies. PVA TePla continues to focus on the megatrends of digitalization, e-mobility and renewable energies.

The company's target for the current year is sales of EUR 170-180 million and EBITDA of between EUR 25 and 27 million.

In the medium term, sales are expected to grow to EUR 250 million with increasing profitability.

All agenda items submitted to the Annual General Meeting for resolution were passed with the required majority. 45.7% of the capital stock was represented at the vote.

For more information, contact:

Dr. Gert Fisahn
Investor Relations
Phone: +49(0)641/68690-400

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