English only: VAT Media Release on Q3 / 2021

“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

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