PVA TePla (TPE) Q2 2026 earnings summary

Executive summary

• Order intake surged 80% year-over-year to EUR 186.7 million in H1 2026, driven by robust demand across both Material Solutions and Metrology segments.

• 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.

• Profitability declined due to lower capacity utilization in Material Solutions, increased R&D, and one-off expenses; net loss for the period was EUR -2.8 million.

• Metrology's share of group revenue rose to 44%, reflecting strategic progress and full capacity utilization through mid-2027.

• Strategic transformation and investments continued, with a focus on converting backlog into profitable growth and organizational consolidation.

Financial highlights

• H1 2026 revenue: EUR 120.5 million (+0.8% YoY); Q2 revenue: EUR 65.7 million (+8% YoY); Q2 sequential revenue growth was 20%.

• EBITDA for H1 2026 was EUR 4.4 million (3.6% margin), down from EUR 14.9 million (12.5%) YoY; Q2 EBITDA was EUR 3.0 million.

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

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

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

Outlook and guidance

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

• Gradual improvement in revenue and earnings expected in H2 2026, with significant contributions in Q4.

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

• Metrology production lines are at full capacity for H1 2027, with additional capacity ramping up by year-end 2026.

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