Consolidated Annual Report 2012 and Single-Entity ... - PVA TePla AG

34 PVA TePla AG Annual Report 2012
The Semiconductor Systems division likewise posted
a decline in incoming orders in 2012, coming in at EUR
28.8 million (previous year: EUR 68.1 million), a similar level
of incoming orders as the Industrial Systems division,
and representing a 49% share of total incoming orders at
the PVA TePla Group. During the third and fourth quarter of
2012, PVA TePla Danmark, a manufacturer of floatzone systems,
received orders from Korea for crystal growing systems
for the manufacture of high-purity silicon crystals for
high performance electronics and analysis purposes. This
area is impacted by the fact that expansion investments
for the manufacture of high-purity polysilicon has come to
a standstill due to the weakness in solar markets. In addition,
the considerable decline in the need for materials for
high-performance electronics, which also comes from this
sector, has been an additional factor. As the semiconductor
market contracted in 2012, the willingness of companies to
invest has declined overall. In contrast, incoming orders in
2011 were characterized by very positive ongoing business
for crystal growing systems. Asia also plays a dominant
role in the Analytical Systems business unit, in which systems
are developed and produced for the nondestructive
inspection of materials. Asia’s share of incoming orders
totaled approximately 50%. At the moment, China and
Singapore are the driving markets in this region, whereas
Korea and Taiwan will increasingly become the focus of
attention for this business unit in the future. The need for
systems to analyze defects and perform quality control of
chips for smartphones and tablets continues to increase.
The Plasma Systems business unit at the locations in Kirchheim
and Corona posted the highest incoming orders in
the Semiconductor Systems division. The Asian region is
the largest market for the plasma systems of PVA TePla.
It is encouraging that the customer base in the back end
packaging segment has expanded considerably compared
with recent years. A series of new products that were finalized
in 2012 have resulted in good opportunities that will
enable the Company to grow disproportionately when the
next recovery in the semiconductor market occurs.
The Solar Systems division posted incoming orders of just
EUR 1.1 million (previous year: EUR 28.9 million). This division
accounted for a 2% share of total incoming orders.
Significant overcapacity in the solar market and sharp declines
in sales prices across the entire supply chain of the
solar industry resulted from the significant investments
to expand capacity, particularly by Chinese providers. The
entire solar market is in upheaval. It is expected that this
consolidation will continue in 2013. Demand for equipment
for the solar industry is expected to remain low in 2013 and
2014. It is highly likely that a system technology will prevail
that guarantees maximum efficiency and optimal cost of
ownership. As PVA TePla is working intensively to develop
such systems for industrial applications, medium to longterm
market prospects are positive, even given the difficult
photovoltaic market at present.
Order income by division
EUR million
156.2
28.9
68.9
29.5
19.2
20.2
93.4
10.1
42.5
40.8
When looking at PVA TePla AG on its own, incoming orders
declined significantly from EUR 139.5 million in the
previous year to EUR 42.9 million in 2012. This includes
EUR 2.0 million in orders from other Group companies
(previous year: EUR 4.3 million). In particular, declining
demand during 2012 in the Vacuum Systems, Crystal Growing
Systems (semiconductors), Floatzone Systems and
Crystal Growing Systems (solar) business units led to this
lower volume of incoming orders. Only the Plasma Systems
business unit posted satisfactory incoming orders.
6.2. ORDER BACKLOG
68.1
59.2
59.2
1.1
28.8
29.3
2009 2010 2011 2012
Industrial Systems Semiconductor Systems Solar Systems
PVA TePla Group’s order backlog is reported after deducting
sales revenues previously recognized applying the
percentage of completion method (PoC). Order backlog for
the Group totaled EUR 30.7 million as of December 31,
2012 (previous year: EUR 74.9 million). All divisions have a
lower year-on-year order backlog. The order backlog for the
Industrial Systems division totaled EUR 11.2 million as of
December 31, 2012 (previous year: EUR 26.5 million). Order
backlog of the Semiconductor Systems division stood
at EUR 16,0 million (previous year: EUR 37.6 million). Order