VAT Group AG (VACN.SW), a Swiss industrial vacuum valves manufacturer, on Thursday reported higher sales in its third quarter on strong order book execution. However, order intake decreased by 8 percent year-over-year.
Looking ahead for the fourth quarter, the firm expects sales of 225 million Swedish Kroner to 245 million Kroner.
For fiscal year 2025, VAT continues to expect higher results for sales, EBITDA, net income, and free cash flow.
Meanwhile, EBITDA margin is now expected to be at the lower end of the 30% to 37% margin band mainly on soft 2025 semiconductor business.
In addition, over the course of 2026, VAT expects to see a larger contribution from high-bandwidth memory once green-field investments are being executed.
In the third quarter, total group net sales were up 23.2 percent to 257.9 million Swedish Kroner from 209.4 million Kroner a year ago.
Third-quarter orders decreased to 238.1 million Kroner from 259.1 million Kroner last year. Group orders decreased 4 percent sequentially.
Order backlog totalled 258.8 million Kroner at the quarter end, down 33.4 percent year on year.
In the Valves segment, sales increased by 17 percent, while orders were down 16 percent.
The Semiconductors business unit sales increased by 16 percent, driven by strong backlog execution, despite the increased market uncertainty. Meanwhile, orders declined 22 percent from a year ago to 145 million Kroner.
In Advanced Industrials, sales improved 18 percent and orders increased 20 percent.
In the Global Service segment, third-quarter sales were up 57 percent year on year and orders were up 33 percent.
In the Swiss Market,the shares were trading 2.17% lower at 350.90 Kroner.
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