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Investing.com -- PVA TePla AG (ETR:TPEG) shares rose more than 5% on Wednesday after the German equipment maker reported a 90% jump in second-quarter orders, even as sales and earnings fell short of expectations.
Second-quarter sales dropped 18% from a year earlier to €60.8 million, missing the €68 million consensus.
Earnings before interest and taxes fell 63% to €4.2 million, below expectations of €6.8 million.
The decline was attributed to project-related postponements and lower orders in 2024, affecting both semiconductor and industrial segments.
Semiconductor sales fell 13% to €43.2 million, while industrial revenue dropped 27% to €17.6 million.
Order intake reached €57.5 million, up 25% from the prior quarter, driven by a 330% surge in the industrial division to €19 million and a 49% increase in semiconductor orders to €38.5 million.
The quarterly book-to-bill ratio was 0.95, with Jefferies estimating the backlog at €140 million.
The EBIT margin narrowed to 6.9% from 15.1% a year earlier. Free cash flow was negative €7.2 million, compared with negative €3.9 million in the same period last year. Net debt stood at €22 million, versus net cash of €6.8 million at the end of 2024.
PVA TePla reaffirmed its 2025 guidance, expecting results at the lower end of its €260 million to €280 million sales range and €34 million to €39 million EBITDA range. Consensus forecasts are for €263.6 million in sales and €36.2 million in EBITDA.
“Despite the uptick in order intake, following the rally since Q1, we expect further clarity on order momentum for the year is needed to set the tone for the shares,” said analysts at Jefferies in a note.