PVA TePla Q4 EBITDA misses estimates despite surge in orders, weak 2026 outlook weighs
Investing.com -- PVA TePla AG on Wednesday reported mixed fourth-quarter preliminary results with strong order intake but disappointing 2026 guidance that falls significantly below market expectations.
The company posted fourth-quarter sales of €68.6 million, down 5% year-over-year but largely in line with analyst estimates of €69 million. However, EBITDA came in at €6.3 million, missing consensus forecasts of €8 million by approximately 20%.
Order intake was a bright spot, surging 111% year-over-year and 26% sequentially to €91.5 million in the fourth quarter. This resulted in a book-to-bill ratio of 1.33x, indicating strong future revenue potential.
The company attributed the order strength to its metrology business and new orders in material solutions.
Profitability weakened significantly compared to the previous year, with EBITDA margin dropping to 9.2% from 21.4% in the fourth quarter of 2024. This decline was driven by substantial investments in operating expenses to support future growth plans.
For fiscal year 2026, PVA TePla provided guidance that disappointed investors, projecting sales of €255-275 million and EBITDA of €26-31 million.
The midpoint of this guidance falls 7% below current revenue consensus of €285 million and 32% below EBITDA expectations of €41.8 million.
The company also outlined longer-term targets, guiding for revenues above €300 million in 2027, which is below the current consensus estimate of €356 million. PVA TePla reiterated its mid-term revenue target of €500 million, though market expectations for 2028 currently stand at €407 million.
Despite the weaker near-term outlook, PVA TePla expects to return to double-digit revenue growth from 2027 onward, suggesting a significant increase in order intake during 2026 and accelerating earnings growth as operating leverage improves.
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