8th HSBC SRI | Frankfurt/M. | January 30, 2013 - PVA TePla AG

pvatepla

8th HSBC SRI | Frankfurt/M. | January 30, 2013 - PVA TePla AG

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

| 1 |


Outline

I. Company profile - Essentials

II. Three divisions

III. Financial figures Jan.-Sept., 2012

IV. Outlook

V. Shares

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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PVA TePla Group is organised in three divisions

PVA TePla is an internationally established provider and also R&D-partner of

engineered systems for the production of high-tech industrial materials under

Industrial Systems

Main products:

Vacuum heat treatment

systems, e.g.:

• Pressure sintering systems

(for hard metal)

• Graphite treatment systems

• Brazing systems

• Nitriding systems

HIGH TEMPERATURES, VACUUM and PRESSURE

Semiconductor Systems Solar Systems

Main products:

Crystal growing systems for

the semiconductor and optoelectronic

industry

(Floatzone + Czochralski)

Systems for plasma treatment

of wafers, lead frames and

industrial applications

Analytical systems

(Quality control)

Wafer-Metrology

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Main products:

Crystal growing systems (mono

and multi)

+ additional equipment

| 3 |


PVA TePla Group: important factors for sustainable success

• Leading technologies strong USPs (pressure sintering, high end crystal growth –

Cz and FZ, ultrasonic analytical systems…)

• Attractive markets and trends (infrastructure development, semiconductors,

photovoltaics)

- internationally active clients: key players in their markets

- strong position in markets with a limited number of competitors

- high market entry barriers (technology)

- but dependent on „customers´ appetite“ to invest / to expand

• Flexible structures

• High visibility (6 – 12 months)

• Successful long term cooperation and strong partnership with important customers

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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PVA TePla AG – Worldwide

Sacramento

Munich Metrology USA Inc.

Corona

PVA TePla America Inc.

PVA TePla Danmark

PVA TePla AG, GB Solar Systems

PVA TePla AG, GB Industrial Systems

PVA Control GmbH

PlaTeG GmbH

Frederikssund

PVA TePla Analytical Systems GmbH Westhausen

Jena

PVA TePla (China) Ltd.

Xí'an HuaDe CGS Ltd.

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Xí'an

PVA Vakuum-Anlagenbau Jena GmbH

PVA Löt- u. Werkstofftechnik GmbH

Wettenberg

München

Munich Metrology Taiwan Ltd.

Munich Metrology GmbH

Singapur

PVA TePla AG, Plasma Systems

Peking

Hsinchu

PVA TePla Singapore Ltd.

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2011: High continuity in sales revenues and EBIT despite headwinds

from the solar industry

Sales revenues 2008 – 2010: 424 Mio. €

Industrial Systems

117 Mio. €

28%

Semiconductor

Semiconductor Systems

150 Mio. €

Systems

35% 150 Mio. €

35%

Solar Systems

157 Mio. €

37%

EBIT 2008 – 2010: 43.7 Mio. €

= 10.3% EBIT-Margin

Industrial Systems

57 Mio. €

43%

Industrial Systems

57 Mio. €

43%

• high quality and continuity of EBIT despite of the crisis in pv-sector

• essential factor of success: balanced portfolio of divisions

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Sales revenues 2011: 133 Mio. €

Solar Systems

26 Mio. €

20%

Solar Systems

26 Mio. €

20%

Semiconductor

Systems

49 Mio. €

37%

EBIT 2011: 13.7 Mio. €

= 10.3% EBIT-Margin

Semiconductor Systems

49 Mio. €

37%

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Consolidated sales revenues 2008 - 2011

168.6

42.0

77.1

49.5

134.7

56.9

38.9

38.9

[in Mill. EUR]

58.1

33.9

28.4

120.4

26.3

49.4

57.0

2008 2009 2010 2011

132.6

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Solar Systems

Semiconductor Systems

Industrial Systems

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Operating profit (EBIT) 2008 - 2011

EBIT Margin in %

15.0

2008

8.9

16.6

2009

12.3

12.0

2010

[in Mill. EUR]

13.7

2011

10.0 10.3

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Incoming orders 2008 – 2011: Fluctuation of order intake

189.9

100.0

41.8

48.1

68.9

29.5

19.2

20.2

[in Mill. EUR]

93.4

10.1

42.5

40.8

2008 2009 2010

156.2

28.9

68.1

59.2

2011

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Solar Systems

Semiconductor Systems

Industrial Systems

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Outline

I. Company profile - Essentials

II. Three divisions

III. Financial figures Jan.-Sept., 2012

IV. Outlook

V. Shares

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Industrial Systems division

Industrial Systems

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

>BILDFELD<

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Industrial Systems division – Vacuum Systems:

focused on three main markets and applications

Markets +

Applications

Market

drivers

Hard metal

Main products:

• Vacuum sintering systems

• Pressure sintering systems

• Tooling industry

• Construction industry

• High performance ceramics

• Industrialisation &

growing investments into

infrastructure worldwide

• Substitution of materials

Main products:

Graphite Brazing

• Graphite cleaning systems

• Graphite coating systems

• Insulation material and

graphite components for

- Industrial furnaces

- Semi-/Solar-/LEDproduction

systems

• Demand for advanced

graphite materials

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Main products:

• Ultra high vacuum

brazing systems

• Vacuum switches for the

electrical industry

• Micro-heat-exchanger

• Global investments into

grid infrastructure

• Changes in energy mix

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Industrial Systems division – Vacuum Systems

• USP:

- high pressure up to 100 bar

- precise temperature and process

control

- high productivity for clients

• World market leader for pressure sintering

systems

• Pressure sintering systems: largest share

on consolidated sales revenues in the last

couple of years in this division

• 2011 highest order income ever

• China: single most important market

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Wärmebehandlungsanlagen: Graphitreinigung und -bearbeitung

Steigende Rohmaterialpreise und steigende Anforderungen

an die Reinheit von Graphit ermöglichen

neue Anwendungen:

- Wärmebehandlungsprozess im Vakuum (2.200°)

- Reinigung der Heizeinsätze von Kristallzuchtanlagen

- Aufbereitung von Graphit

- Graphitbeschichtung

- Graphit in neuen Anwendungen: LED

- erweiterte Kundenbasis

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Industrial Systems division – Vacuum Systems:

Ultra high vacuum brazing systems

USP:

- Extremly high vacuum

- Automatic process control

- High productivity and reliability for clients

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Brazing systems for e.g.:

- Vacuum switches

- Micro heat exchanger

- Significant growth potential

in BRIC countries

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Semiconductor Systems division

Semiconductor Systems

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

>BILDFELD<

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Semiconductor Systems division –

Technological leadership in selected applications

Market

drivers

Application:

examples

Crystal Growing

Systems

Main products:

Crystal pullers for the

semiconductor industry:

- Czochralski-process

- Floatzone-process

Growing demands on quality

Increasing miniaturisation

High-performance electronics

300mm Si-wafer

Float-zone for

hybrid technology

Plasma Systems Analytical Systems

Main products:

Systems for plasma

surface treatment (RF

+MW technology) in

Metrology

High brightness LED

OLED/PLED displays

IGBT (transistors)

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Main products:

Systems for the non

destructive inspection

(ultrasonic and optical) of

-Silicon crystals/wafers

-Wafers

-Components …

Silicon crystals

Wafer

Components

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Semiconductor Systems division – Crystal Growing Systems:

Key technology for the wafer production

• Typical order > EUR 10m, no single puller sales

• Market drivers:

- Capacity adjustments for 150/200mm wafer globally

- Further growing demand for 300mm wafers!

• Focus on Asia / Europe

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Semiconductor Systems division –

World market leader for Floatzone Systems

• Highest business volume (approx. EUR 20 Mio. in

2011) since takeover by PVA TePla AG

• Positive market perspectives

• Market drivers:

- High-performance electronics

- Hybrid technology

- Increased share of renewable energy in power

supply grid

• Focus: Asian semiconductor industry

• Prospect: solar industry

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Semiconductor Systems division – Crystal Growing Systems:

Silicon carbide for high performance electronics

Silicon carbide material features

specific properties such as high

thermal conductivity, for e.g.:

• High performance electronics, e.g.:

- Hybrid and electric cars

- Optoelectronics

- Photovoltaics

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Semiconductor Systems division – Metrology tools for wafer and

semiconductor device manufacturer

Laser based metrology systems quality inspection systems

for fast monitoring of mechanical stress on up to 300mm wafers

Ultra sound analytical sytems: quality inspection systems for a wide range

of applications in the semiconductor industry

VPD analytical systems: wet-chemical based quality inspection systems

for ultrapure contamination and surface control in the semiconductor

industry

High competence in metrology and automated inspection tools for wafer

processing and semiconductor devices

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Solar Systems division

Solar Systems

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Solar Systems division – Crystal Growing Systems:

Differentiation through technological advantage

• PV-Industry: Overcapacities and margin pressure

>BILDFELD<

• Growing investments into the solar market mid- and

long-term – but when?

• Technological progress seen as an important PV-market

driver: higher efficiency (cells and modules), better cost

of ownership

PVA TePla:

- Magnetic-Czochralski

- Active Cooling

- Multi-Pulling

• Improvement of the cost base by global sourcing

• Floatzone systems for the PV-industry: Cooperation with

different research institutes

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Solar Systems division –

Competence Center for Industrial Crystal Growing Systems (CCIC)

CCIC:

• Support of customers with process development

and process know how

• Optimization of

− Process and hardware knowledge

− Efficiency (CoO)

− Quality of output/yield

• Training of customer workforce

• R&D cooperation with customers

• Material tests

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

| 24 |


Outline

I. Company profile - Essentials

II. Three divisions

III. Financial figures Jan.-Sept., 2012

IV. Outlook

V. Shares

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

| 25 |


2012: A Challenging - but still profitable - year

• Slow order intake in all business units

• Solar industry with unsolved structural issues

• Large orders (>10 million EUR) not yet received as in past periods

• Demand from China weaker than in previous years

• Acquisition of Munich Metrology in July 2012

• Review of further acquisitions is going on

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Financial figures as at September 30, 2012: Overview

in '000

01.01. -

30.09.2012

01.01. -

30.09.2011 Delta

Sales Revenues 83,665 77,338 6,327

Gross profit 20,064 20,252 -188

in % sales revenues 24.0 26.2 -2.2

Operating profit (EBIT) 6,246 7,572 -1,326

in % sales revenues 7.5 9.8 -2.3

Consolidated Net income 4,271 5,076 -805

in % sales revenues 5.1 6.6 -1.46

Earnings per share -in EUR- 0.19 0.23 -0.04

Shareholder's equity * 61,360 60,298 1,062

Equity ratio in % 55.1 46.7 8.4

Total assets * 111,386 129,131 -17,745

Employees 517 505 12

Incoming orders 42,186 130,569 -88,383

Order backlog 31,162 105,013 -73,851

Book-to-Bill-Ratio 0.50 1.69 -1.2

Cash Flow from operating activities 3,889 -6,578 10,467

* as 31.12.2011

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Operating result (EBIT) as at September 30, 2012 by division

in TEUR

01.01. - 30.09.2012 01.01. - 30.09.2011

Sales Revenues EBIT in % Sales Revenues EBIT in %

Industrial Systems 36,541 2,816 7,7% 40,689 3,581 8,8%

Semiconductor Systems 40,532 5,411 13,3% 26,570 3,487 13,1%

Solar Systems 6,593 -2,035 -30,9% 10,079 508 5,0%

Consolidation 0 54 0 -5

Total 83,665 6,246 7,5% 77,338 7,572 9,8%

Industrial Systems: Sales revenues and earnings on stable level

Semiconductor Systems: Significant increase of sales revenues,

earnings on a high EBIT- level

Solar Systems: Negative earnings based on weak sales revenues and

impact from R&D costs (EUR 2.4m)

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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Assets as at September 30, 2012

Property,

plant and

equipment

Goodwill

33.177

Deferred

tax assets

Other current assets

7.808

3.628

5.452

12.707

22.531

30.09.2012

Cash and

cash equivalents

8.770

3.159

14.155

Payments in advance

and other receivables

33.861

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

2.633

7.615

3.634

23.674

14.612

111.387 129.131

Inventories

Trade

receivables

[in ´000 EUR]

Coming receivables on

construction contracts

31.12.2011

15.570

22.828

4.704

| 29 |


Liabilities as at September 30, 2012 – equity currently above

market cap

Shareholder´s

equity

61.360

8.798

111.387

Equity ratio

55,1%

Other liabilities

11.156

8.061

30.09.2012

6.267

3.014

4.132

8.599

Non current

financial

liabilities

[in ´000 EUR]

Other short term-/non curentprovisions/accruals

Advance payments

received on orders

Provisions for

pensions

Trade payables

Short term financial iabilities

60.298

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

8.351

129.131

Equity ratio

46,7%

8.742

8.396

31.12.2011

16.473

16.651

6.066

4.154

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Order income Jan.-Sept., 2012

Solar Systems

Semiconductor Systems

Industrial Systems

39,6

9,9

15,2

14,5

1-9 2009

[in Mio. EUR]

73,6

9,1

33,8

30,7

130,5

28,4

53,5

48,6

1-9 2010 1-9 2011

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

42,2

18,7

22,5

1-9 2012

1,0

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Sales revenues Jan.-Sept., 2012

99,0

43,1

25,1

30,8

95,0

53,2

22,7

19,1

10,1

26,6

40,7

[in million EUR]

77,3

83,6

6,6

40,5

36,5

1-9 2009 1-9 2010 1-9 2011 1-9 2012

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Solar Systems

Semiconductor Systems

Industrial Systems

| 32 |


Order backlog Jan.-Sept., 2012

Solar Systems

Industrial Systems

[in Mio. EUR]

Semiconductor Systems

90,0

54,8

22,2

13,0

56,8

11,5

22,3

23,0

105,1

26,7

46,1

32,3

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

31,4

4,6

14,6

12,2

1-9 2009 1-9 2010 1-9 2011 1-9 2012

| 33 |


Outline

I. Company profile - Essentials

II. Three divisions

III. Financial figures Jan.-Sept., 2012

IV. Outlook

V. Shares

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

| 34 |


Outlook

Adjusted forecast for 2012: Sales revenues between EUR 105 and 110 million;

EBIT–Margin around 7%

Development in incoming orders:

• Development of the global economy conditions tends downwards

• Downturn in solar market activities: project opportunities in regions which

intend to settle PV projects on economic-political grounds

• Order income in the BU Plasma systems satisfying: in the US a new

opportunity for surface treatment of mobile devices is developing

Cost reduction program at the sites Wettenberg and Jena because gradually declining

capacity utilization:

• Start of short-time work at the turn of next year

• General cost reduction program

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

| 35 |


Outline

I. Company profile - Essentials

II. Three divisions

III. Financial figures Jan.-Sept., 2012

IV. Outlook

V. Shares

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

| 36 |


PVA TePla AG – Shares I

Freefloat

69.1%

Shareholding structure

PA Beteiligungsgesellschaft

(investment company) mbH

25.8%

Christian Graf Dürckheim

5.1%

• 21.75 Mio. shares; market capitalization: approx. 54 Mio. EUR

• Active Coverage: Bankhaus Lampe, BHF Bank, DZ Bank, fair research

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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PVA TePla AG – Shares II

Performance of PVA TePla shares since January 2012

PVA TePla AG

DAXSubs.Advanced Ind. Equip.

Photovoltaik Global 30 Total Return

Technology All Share

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

Actual rating of PVA TePla at

the capital market on the base

of market capitalization of

approx. 54 Mio. Euro:

approx. 5 x EBITDA

approx. 8 x EBIT

| 38 |


Contact:

Dr. Gert Fisahn

Im Westpark 10 – 12

35435 Wettenberg

Phone: +49 641 6 86 90 - 400

e-mail: gert.fisahn@pvatepla.com

Thank you very much for your attention!

Wir danken für Ihre Aufmerksamkeit!

8 th HSBC SRI | Frankfurt/M. | January 30, 2013

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