“Ad hoc announcement pursuant to Art. 53 LR”

Q3 2021 results

  • Record order intake of CHF 299 million, up 91% year-on-year (up 18% sequentially)
  • Net sales up 23% vs Q3 2020 to a record CHF 229 million (up 2% sequentially) on continuing strength in Semiconductors, Global Service and Advanced Industrials
  • Book-to-Bill ratio of 1.3x; order book of CHF 284 million

Nine months 2021 results

  • Investments in semiconductor manufacturing equipment remain at unprecedented levels; service demand reaches record levels while advanced industrial markets continue strong recovery from pandemic-induced slowdown, with sales supported by new market initiatives
  • Nine-month orders and sales at record levels of CHF 793 million and CHF 646 million, respectively
  • Specification wins continue to be at a very high level
  • Strong mitigation of supply chain challenges and solid factory ramp in Malaysia led to record Group factory output

Guidance for Q4 and outlook for full-year 2021

  • Semiconductor market outlook remains positive for Q4 and well into 2022
  • Order activity expected to remain at high level
  • Q4 net sales1 expected at CHF 240 - 250 million
  • Full-year net sales1 forecast at CHF 885 - 895 million
  • Full-year EBITDA margin expected to be above half-year level of 33.9%
  • Net income substantially above 2020 level
  • Full-year capital expenditure expected to be around CHF 40 million
  • Record full-year free cash flow as EBITDA growth more than offsets working capital requirements

VAT Group

9M 2021Q3 2021Q2 2021Change2Q3 2020Change39M 20219M 2020Change3
Order intake298.7253.5+17.8%156.4+91.0%792.9514.5+54.1%
Net sales229.4224.2+2.3%185.9+23.4%645.7504.9+27.9%
Order Backlog283.7218.3+30.0%124.1+128.6%   

1 At constant foreign exchange rates
2 Quarter-on-Quarter
3 Year-on-Year