Financial results 2022: PVA TePla shows strong growth in all business areas

Financial Results 2022: PVA TePla shows strong growth in all business areas

• Targets clearly exceeded: Group sales increase by almost 32 percent to EUR 205.2 million (2021: EUR 155.7 million), EBITDA to EUR 30.0 million (2021: EUR 23.0 million)
• Order backlog at record level of EUR 324.3 million (2021: EUR 283.3 million)
• Upbeat FY 2023 guidance: further significant increase in sales to EUR 240 to 260 million and EBITDA between EUR 36 and 40 million expected

PVA TePla AG (ISIN DE0007461006) continued its dynamic growth in fiscal year 2022. With sales increasing by 31.8% to EUR 205.2 million (2021: EUR 155.7 million), the technology provider for the production of high-tech materials clearly exceeded its own sales forecast of EUR 170 to 180 million for the reporting period. The operating result before depreciation and amortization (EBITDA) increased by more than 30% to EUR 30.0 million in the financial year 2022 (2021: EUR 23.0 million),  also well above the guidance of EUR 25 to 27 million.

Forward-looking procurement planning and inventory management as well as a particularly strong second half of the year, with a fourth quarter in which more orders were processed than originally planned, were among the factors that contributed to PVA TePla's strong sales growth in times of tight supply chains. 71% (2021: 76%) of total sales of EUR 205.2 million, were generated by the Semiconductor Systems segment and 29% (2021: 24%) by the Industrial Systems segment.

"In the past fiscal year, we once again proved that we are a reliable and innovative partner to industry. Our excellent results for the period under review are proof of this positive development," explains Manfred Bender, CEO of PVA TePla AG.

"Global megatrends such as digitalization, energy and the transition to mobility are driving the strong growth in our core markets. In addition, the dynamic development of technologies such as artificial intelligence is further increasing the importance of the semiconductor industry," adds Jalin Ketter, CFO and designated Spokesperson of the Management Board. "We have set ourselves the goal of increasing the use of our solutions in line with the ecological transformation. Based on our mature technologies, we offer our customers products that help them improve their environmental footprint in terms of energy consumption, efficiency and material use. At the same time, we also see this as an opportunity to address new businesses and markets."

PVA TePla increased its gross profit by 26.3% to EUR 59.1 million (2021: EUR 46.8 million). The company increased EBITDA from EUR 23.0 million to EUR 30.0 million in the year under review, an increase of over 30% compared to the previous year. The EBITDA margin remained stable and positive at 14.6% (2021: 14.8%).

Both of the Group's business segments contributed to the high sales growth : In the Semiconductor Systems segment, sales increased by 24 % to EUR 145.8 million in fiscal year 2022 (2021: EUR 117.9 million). The increase in sales is the result from a continued high demand for crystal growing systems for the semiconductor wafer industry as well as for metrology systems. The Industrial Systems division achieved sales of EUR 59.5 million (2021: EUR 37.9 million), a significant increase of 57%. The segment´s main driver was the production of high-temperature heat treatment equipment for the energy market and the optoelectronics industry.

Further expansion of order backlog

The high demand for PVA TePla's systems and solutions is reflected in the order backlog, which rose significantly from an already high level of EUR 283.3 million as of the previous year's reporting date to EUR 324.3 million as of this year’s. The Semiconductor Systems segment accounted for EUR 219.9 million (2021: EUR 214.6 million) and the Industrial Systems segment for EUR 104.4 million (2021: EUR 68.7 million).

At EUR 235.0 million, order intake in 2022 remained at a very high level. If the order intake in 2021 with a total volume of EUR 312.5 million is adjusted for a large order from the Semiconductor segment from 2021 with a volume of EUR 95 million, the demand for 2022 is slightly higher. While order intake in the Industrial Systems segment increased to EUR 82.4 million (2021: EUR 66.3 million), the Semiconductor Systems segment recorded a decline to EUR 152.6 million (2021: EUR 246.2 million) due to the aforementioned large order in the previous year.

Full-year forecast confirmed - sustainability as driver

The Management Board of PVA TePla again expects strong growth for the fiscal year 2023, despite the continuing uncertain economic situation. The forecast for consolidated sales is EUR 240 to 260 million, which corresponds to an increase of around 17 to 27 % compared to the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to be between EUR 36 and 40 million. This forecast is based primarily on the positive order situation and demand, which is expected to remain at a stable level.

In addition, PVA TePla intends to leverage further growth opportunities by focusing stronger on sustainability. During the reporting period, the Group adopted its new sustainability strategy and thus firmly anchored sustainable action in the corporate strategy. This also includes increasing its activities in markets such as the energy and automotive industries and thus helping to drive forward the development of environmentally friendly and climate-friendly technologies.