Report
Toby Thorrington

PVA TePla - Increasing semiconductor market exposure

PVA TePla’s key competence lies in the very precise handling of vacuum, extreme pressure and temperatures. This is crucial for applications in industrial and semiconductor manufacturing that have high end-requirements on the purity/conformality of materials. Originating from Pfeiffer Vakuumtechnik, the company has evolved from producing mostly very large vacuum systems for industrial applications like diffusion bonding to producing Silicon (Si)/ Silicon Carbide (SiC)/Germanium crystal-growing systems for wafer production in the semiconductor industry and advanced metrology solutions. The latter activity was born from the need for very precise measurement systems for the company’s own processes and was further developed commercially. PVA TePla has a largely outsourced production model and a global client base. Revenues have grown from €97m in 2018 to €205m in 2022, largely driven by the company’s semiconductor activities.
Underlying
PVA TePla AG

PVA Tepla AG. PVA TePla AG is a Germany-based company that provides vacuum solutions for high temperature and plasma treatment processes, as well as plant engineering solutions. The Company operates through two segments: Industrial Systems and Semiconductor Systems. The Industrials Systems segment specializes in the development, construction and marketing of vacuum heat treatment furnaces for processing materials at high temperatures. The Semiconductor Systems segment provides systems for the semiconductor and solar industry ranging from systems for the production of silicon crystals for the semiconductor, solar and opto-electronic industry to systems for plasma treatment in the semiconductor assembly, as well as systems for non-destructive, ultrasonic quality inspection of materials. The Company operates through subsidiaries in Europe, Asia and North America.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Toby Thorrington

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