PVA TePla (TPE) Q2 2026 earnings summary

Executive summary

• Order intake surged 80% year-over-year to EUR 186.7 million, driven by robust demand across both Material Solutions and Metrology segments, with Metrology's share of group revenue rising to 44%.

• Revenue for H1 2026 was EUR 120.5 million, up slightly from the prior year, with Q2 revenue up 8% year-over-year and sequential improvement from Q1.

• Profitability declined due to lower capacity utilization in Material Solutions, increased R&D, and one-off expenses, resulting in a net loss of EUR -2.8 million for H1.

• Strategic transformation and investments continued, including efficiency programs, organizational consolidation, and R&D focus on indium phosphide and aluminum nitride.

• Book-to-bill ratio increased to 1.55 from 0.87, indicating strong demand and backlog.

Financial highlights

• H1 2026 revenue: EUR 120.5 million (+0.8% YoY); Q2 revenue: EUR 65.7 million (+8% YoY); H1 EBITDA: EUR 4.4 million (3.6% margin); EBIT: EUR -1.4 million.

• Gross margin declined to 29.3% from 33.3% YoY, mainly due to lower utilization and product mix.

• Net income was EUR -2.8 million, compared to EUR 6.2 million in the prior year.

• Cash flow from operating activities was EUR 1.9 million, down from EUR 5.8 million.

• H1 order intake: EUR 186.7 million (book-to-bill 1.55), with EUR 89 million in Material Solutions and EUR 97.7 million in Metrology.

Outlook and guidance

• Full-year 2026 guidance confirmed, with EBITDA expected in the lower half of the EUR 26–31 million range.

• Revenue and earnings expected to improve gradually in H2, with significant contributions in Q4 due to project lead times.

• Gross profit margin and EBITDA margin anticipated to recover in H2 as underutilization ends and product mix improves.

• Strong H1 order intake provides visibility for H2 and beyond, though some volatility is expected in Material Solutions.

• Medium-term goal to reach EUR 500 million in revenue and sustainably improve profitability.