Corporate | 10 November 2017 08:00

PVA TePla AG: Publication of business figures for Q3 2017

DGAP-News: PVA TePla AG / Key word(s): 9-month figures

10.11.2017 / 08:00
The issuer is solely responsible for the content of this announcement.

PVA TePla: Publication of business figures for Q3 2017

– Incoming orders of EUR 67.8 million (up 30% year-on-year)

– Consolidated sales revenues EUR 63.5 million as forecast (down 2.5% year-on-year)

– Gross margin of 23.3% (up 1.5 pp year-on-year)

– EBIT margin of 2.9% (previous year: 2.9%)

– Equity ratio of 46.5% (up 4 pp year-on-year)

– Operating cash flow of EUR 12.3 million (previous year: EUR -6.8 million)

INCOMING ORDERS – SIGNIFICANT INCREASE
Incoming orders for the PVA TePla Group rose by 30% from EUR 51.9 million in the same period of the previous year to EUR 67.8 million in the first nine months of 2017. The book-to-bill-ratio was 1.07 (previous year: 0.8). Encouragingly, both divisions were significantly ahead of the previous year in terms of incoming orders. Incoming orders for the Semiconductor Systems division amounted to EUR 36.8 million (previous year: EUR 34.6 million). Orders for crystal growing and plasma systems accounted for most of the incoming orders in this division. Incoming orders in the Industrial Systems division amounted to EUR 31.1 million in the first three quarters of 2017, up 80% on the previous year’s figure (EUR 17.3 million). The Vacuum Systems product area achieved its highest incoming orders since 2011.

SALES REVENUES – AS FORECAST
The sales revenues of the PVA TePla Group were down slightly year-on-year at EUR 63.5 million in the first nine months of 2017 (previous year: EUR 65.1 million). This decline is due to the low orders on hand at subsidiaries at the start of fiscal 2017.

Sales revenues for the Semiconductor Systems division rose by EUR 2.2 million to EUR 38.0 million (previous year: EUR 35.8 million). By contrast, sales revenues for the Industrial Systems division fell by EUR 3.8 million to EUR 25.4 million (previous year: EUR 29.2 million). The growth in sales revenues in Semiconductor Systems was unable to fully offset the decline in sales revenues at Industrial Systems.

GROSS MARGIN – IMPROVED
On the basis of consolidated sales revenues for the first nine months of 2017 of EUR 63.5 million (previous year: EUR 65.1 million), the company generated a gross profit of EUR 14.8 million (previous year: EUR 14.2 million) and a gross margin of 23.3% (previous year: 21.8%).

EBITDA of EUR 3.5 million was generated in the first nine months of 2017 (September 30, 2016: EUR 4.1 million) with EBIT of EUR 1.8 million (previous year: EUR 1.9 million). The EBIT margin was 2.9% (previous year: 2.9%).

Net income for the period rose to EUR 1.1 million despite lower sales revenues (previous year: EUR 0.7 million). The return on sales was 1.7% (previous year: 1.1%).

LIQUIDITY – SIGNIFICANT IMPROVEMENT
The operating cash flow has improved by EUR 19.2 million to EUR 12.3 million (Q3 2016: EUR -6.8 million). Total cash flow including changes due to exchange rate effects amounted to EUR 1.8 million in the first nine months of 2017 (previous year: EUR -4.7 million). The net financial position (excess of cash and cash equivalents over current and non-current financial liabilities) improved by EUR 9.4 million to EUR 0.5 million (December 31, 2016: EUR -8.9 million).

FORECAST
The company is again expecting incoming orders substantially higher than in the previous year in the fourth quarter. This will essentially be thanks to the extensive investment in microelectronics for crystal growing systems and analysis equipment. However, the Industrial Systems division is also benefiting from the economic growth in the machinery and tools sector. Sales revenues from various contracts will not be recognized until from the third quarter of 2018 onwards on account of the longer terms of these orders.

The Management Board of PVA TePla is still forecasting consolidated sales revenues of EUR 85 million and an EBITDA margin of 6% for fiscal 2017.

The interim report is now available to download on the company’s website: http://www.pvatepla.com.

For further information, please contact:

Dr. Gert Fisahn
Investor Relations
PVA TePla AG
Tel.: +49(0)641/68690-400
gert.fisahn@pvatepla.com
http://www.pvatepla.com

10.11.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

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