German PVA Tepla net profit falls to EUR 5.1m in 9-mo 2011
Nov 11, 2011 - German technology group PVA Tepla (ETR:TPE) saw its net profit decline to EUR 5.1 million (USD 6.9m) in the first nine months of 2011 from EUR 6.2 million a year earlier.
Earnings before interest and tax (EBIT) stood at EUR 7.6 million, down from EUR 9.7 million in the prior-year period, while EBIT-margin went down to 9.8% from 10.3%.
The decrease in profitability was mainly due to a decline in revenue to EUR 77.3 million from EUR 95 million a year earlier, attributable to a significant drop in the sales of the company's Solar Systems division due to the weak demand in the sector.
However, Solar Systems is expected to notably raise its sales in the final quarter of 2011 on the basis of the orders received, PVA Tepla said.
The company, which produces crystallisation systems for semiconductor and solar silicon as well as vacuum and high-temperature systems, expects revenue of EUR 120 million to EUR 130 million and an EBIT margin of 8% to 10% in 2011, each at the upper end of the range.