PVA Tepla : Growth trajectory remains robust despite the fall in orders
>Outperform rating and € 34 target price maintained - The share lost 3% yesterday following Q2 results marked by a fall in orders (-4% y-o-y), reflecting the current slowdown in semiconductor equipment spending. However, we remain optimistic on the group’s positioning based on what we see as good visibility thanks to the current backlog (€ 298m) which stretches to 2025 and should therefore allow the group to maintain a good growth trajectory. The group boasts a grow...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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