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VAT Group AG Reports Strong Q2 and Half-Year 2024 Results

VAT Group AG has announced positive results for Q2 2024, showcasing a sequential improvement in orders and sales driven primarily by the demand for advanced semiconductor fabrication equipment. Orders in Q2 reached CHF 271 million, marking a 15% increase from Q1 2024 and a 75% rise compared to Q2 2023. The company reported Q2 sales of CHF 251 million, reflecting a 27% increase from the previous quarter and a 14% year-on-year growth.

For the first half of 2024, VAT observed a 74% year-on-year increase in orders, while sales remained flat compared to H1 2023 at CHF 450 million. The EBITDA margin improved to 30.1%, up from 29.2% in H1 2023, and net income increased by 12% to CHF 94 million. Despite a 29% drop in free cash flow due to inventory buildup and capital expenditures for capacity expansion in Malaysia and the Innovation Center in Switzerland, VAT maintains a positive outlook for 2024.

The company expects sustained growth in the semiconductor sector, boosted by investments driven by Artificial Intelligence and manufacturing capacities in China. VAT anticipates further enhancements in sales, EBITDA, EBITDA margin, net income, and free cash flow throughout the fiscal year 2024.

R. P.

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