BRUSSELS (dpa-AFX) - VAT Group AG (19V.F, VACN.SW, VACNY, VTTGF), a Swiss maker of vacuum valves, multi-valve units, and vacuum modules, on Wednesday reported a drop in net income and sales for the first half of fiscal 2026.
For the six-month period, the company reported net income of CHF 98.8 million, or CHF 3.30 per share, compared with CHF 105.6 million, or CHF 3.52 per share, in the same period last year. EBITDA stood at CHF 148.2 million, less than EUR 165 million a year ago. Net sales declined to CHF 511.9 million from the previous year's CHF 558 million.
Commenting on the sales, the Group said: 'Net sales were CHF 512 million, down 8% year on year (flat at constant FX) as the industry strained supply chains to support chip demand. VAT remains committed to ramping factory output to a quarterly run rate above CHF 450 million by year-end. To enable the projected ramp, VAT added more than 700 FTEs globally in H1 2026, about 85% in production or adjacent roles.'
Looking ahead, the Group anticipates that the advanced logic and memory chip supply and demand imbalance is set to prevail in coming quarters, driving continued strong WFE investment momentum into 2027.
For the third quarter of fiscal 2026, the company expects sales of CHF 355 million to CHF 385 million. For the second quarter of fiscal 2026, VAT Group has posted net sales of CHF 291 million. For the second quarter of fiscal 2025, the company had recorded net sales of CHF 258 million.
Citing persisting supply-demand imbalances, VAT has reaffirmed its fiscal 2026 guidance and still expects a rise in earnings and sales when compared with fiscal 2025 results.
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