PV manufacturer PVA TePla AG has announced it has generated sales revenues of €31.0 million in the first quarter of 2012 (previous year: €23.1 million), its EBIT amounted to €2.9 million (previous year: €1.8 million).
The industrial systems division increased its sales revenue from €11.3 million in the same quarter of the previous year to €13.8 million. An even more significant increase in sales revenue was posted in Semiconductor Systems at €14.5 million (previous year: €8.8 million). Sales revenue in the solar systems division remained at a low level of €2.7 million on account of the minimal order backlog (previous year: €3.1 million).
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As expected, EBIT and consolidated net income for the period were well above the previous year's figures at €2.9 million (previous year: €1.8 million) and €2.0 million (previous year: €1.3 million) respectively. The EBIT margin was at the upper end of the forecast range at 9.5% (previous year: 7.6%).
PVA TePla stated its incoming orders were in line with its expectations for the first quarter of 2012 but were significantly below the previous year's figure at €18.9 million (€39.0 million). The book-to-bill-ratio therefore changed to 0.6 (previous year: 1.7). At €12.7 million in the first three months of 2012, incoming orders in industrial systems division remained at the same good level as the first quarter of the previous year (€15.6 million). Semiconductor systems division generated significantly lower incoming orders than in the same period of the previous year of €5.8 million (previous year: €22.4 million). In the same quarter of the previous year, this division had been dominated in particular by high incoming orders for semi-conductor crystal-growing systems that it was not expected to repeat in the past quarter. Incoming orders for the solar systems division amounted to €0.3 million (previous year: €0.9 million). Business performance in this unit is largely dependent on major orders, which are not anticipated at the current time, which the company accounts to “the difficult market environment in the photovoltaics industry.”
As forecast, cash flow from operating activities was positive again for PVA TePla in the first quarter of 2012 at €3.9 million (previous year: €2.3 million). Cash flow used in investing activities amounted to €0.2 million (previous year: €0.2 million). PVA TePla's liquidity situation remains positive, as indicated by the high level of cash and cash equivalents of €17.9 million.
PVA TePla is confirming its guidance for fiscal 2012 of anticipated consolidated sales revenues of €120-130 million and an EBIT margin of between 8% and 10%.
