PVA TePla's shares dropped 14% after the German high-tech equipment manufacturer presented revenue and earnings guidance for 2026 that investors interpreted as conservative relative to the company's strengthened order book for 2025.
The company reported 2025 revenue of €244 million and said its order intake increased to €268 million for the year. Despite that uptick in orders, PVA TePla forecast 2026 revenue of between €255 million and €275 million, a rise described by the company as moderate. For 2026 the firm expects EBITDA in a range of €26 million to €31 million.
Management flagged that while the firm’s order intake improved substantially in 2025, the financial impact of those orders is not expected to be fully reflected in company results until 2027. PVA TePla indicated that growth in 2026 will be modest, and that a - as the company put it - significant increase is anticipated in 2027.
Market participants reacted to the near-term guidance, with the share price decline reflecting disappointment that the stronger 2025 order performance will have only a delayed effect on revenues and earnings. The stock move suggests investors had been looking for a faster translation of the higher order volume into 2026 financial results.
PVA TePla specializes in systems used to produce high-tech materials and components for semiconductor manufacturing and other industrial applications. The company’s product focus positions it in the semiconductor equipment and industrial capital goods segments, where order-to-revenue timing can influence short-term financial metrics.
In summary, PVA TePla reported solid orders and mid-sized revenue in 2025 but set expectations for only moderate growth in 2026, leaving the bulk of anticipated improvement to 2027. The market response underscored investor sensitivity to the timing of order conversion into reported revenue and EBITDA.