VAT Group (VACN) Q4 2024 TU earnings summary

Executive summary

• Orders and sales grew in Q4 2024 as semiconductor market recovery continued, with full-year results aligning with guidance.

• Board changes announced: Clara-Ann Gordon and Mike Allison nominated, Karl Schlegel to retire.

Financial highlights

• Q4 2024 orders reached CHF 268 million, up 13% year-over-year and 3% sequentially.

• Q4 2024 net sales were CHF 283 million, up 28% year-over-year and 35% sequentially.

• Full-year 2024 orders totaled CHF 1,034 million, up 49% year-over-year; net sales were CHF 942 million, up 6%.

• Preliminary full-year EBITDA margin slightly above 31%; H2 2024 margin above 32%, within target band.

• Free cash flow for 2024 was around last year's level.

Outlook and guidance

• Q4 order intake signals continued improvement in the semiconductor investment cycle, expected to persist into 2025.

• Detailed 2025 outlook to be provided with final full-year 2024 results in March 2025.