PVA TePla AG

EANS-News: PVA TePla publishes business figures for Q3 2012

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quarterly report


Wettenberg (euro adhoc) - (Wettenberg, November 9, 2012) - PVA TePla AG - a
manufacturer of silicon crystallization systems as well as vacuum and
high-temperature systems - generated sales revenues of EUR 83.7 million in the
first nine months of 2012 (previous year: EUR 77.3 million). Operating earnings
(EBIT) totaled EUR 6.2 million (previous year: EUR 7.6 million) with a margin of
7.5% (previous year: 9.8%). Incoming orders developed weakly, dropping to EUR
42.2 million as against EUR 130.6 million in the same period of the previous
year.

The Industrial Systems division generated sales revenues of EUR 36.5 million
(previous year: EUR 40.7 million), due in particular to processing orders for
supplying hard metal production and graphite processing systems. The
Semiconductor Systems division increased its sales revenues from EUR 26.6
million in the previous year to EUR 40.5 million thanks to the high order
backlog for crystal growing systems for the semiconductor industry. The Solar
Systems division posted sales of only EUR 6.6 million (previous year: EUR 10.1
million) due to the weak order situation. 

Incoming orders came to EUR 42.2 million (previous year: EUR 130.6 million),
thus posting a weak development when viewed over the fiscal year as a whole. The
book-to-bill-ratio stood at 0.5 (previous year: 1.7). Across almost all business
units, customers showed considerable restraint in their investment decisions.
Incoming orders in the Industrial Systems division mainly comprised high-vacuum
brazing systems. The market for hard-metal sintering systems is currently
displaying a downward trend due to the high increase in capacity in recent
years. In the Semiconductor Systems division, the plasma systems business unit
accounts for the largest share of incoming orders. In September, PVA TePla
Danmark obtained an order for three float-zone systems. The previous year's
incoming orders in this division were dominated by major orders for supplying
crystallization systems for the semiconductor industry. In the Solar Systems
division, the major expansion investments of the previous years were halted due
to the substantial overcapacity and intense pricing pressure across the entire
supply chain. Opportunities for new orders are currently presented in regions
wishing to develop production capacity for photovoltaics modules locally on
economic- political grounds.

Operating earnings (EBIT) amounted to EUR 6.2 million (previous year: EUR 7.6
million) and consolidated net income totaled EUR 4.3 million (previous year: EUR
5.1 million). The EBIT margin was 7.5% (previous year: 9.8%). The liquidity
situation of the PVA TePla Group remains positive as at September 30, 2012. As
expected, the operating cash flow was positive at EUR +3.9 million (previous
year: EUR -6.6 million).

Based on these business figures and the absence of a recovery of incoming orders
in the reporting period, the probability of achieving the previously planned
incoming orders and sales revenues for the remainder of 2012 was reassessed. PVA
TePla now anticipates consolidated sales revenues of EUR 105 million to EUR 110
million (previously forecast: EUR 120 million to EUR 130 million) for fiscal
2012 owing to the difficult market environment. This sales revenue level is
expected to result in an EBIT margin of around 7% (previously forecast: 8-10%). 


In addition to the known weakness in the photovoltaics industry, the general
economic outlook in regions (China) and sub-markets (hard metal) relevant to us
has worsened. This also led to orders being postponed until the next fiscal
year, contributing to an adjustment of the sales revenue and earnings
expectations for the current fiscal year.

To compensate for the lower utilization in production that can be expected in
the coming fiscal year, a cost reduction program has been launched. The use of
hired workers has been discontinued, temporary employment contracts will not be
extended and short-time work will be introduced at the Jena and Wettenberg
locations around the end of the year. An additional program to reduce material
costs has already been implemented.


Further inquiry note:
Dr. Gert Fisahn
Telefon: +49(0)641 68690-400
E-Mail: gert.fisahn@pvatepla.com

end of announcement                               euro adhoc 
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company:     PVA TePla AG
             Im Westpark 10-12
             D-35435 Wettenberg
phone:       +49(0)641 68690-0
FAX:         +49(0)641 68690-800
mail:     ir@pvatepla.com
WWW:      http://www.pvatepla.com
sector:      Misc. Industrials
ISIN:        DE0007461006
indexes:     CDAX
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
             Stuttgart, regulated dealing/prime standard: Frankfurt 
language:   English
 



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