Q1 2021 Results

  • Record quarterly orders of CHF 241 million, up 33% year-on-year, driven by strong demand from the semiconductor industry and a rebound in industrial markets
  • Group net sales increased to CHF 192 million, up 32% vs. Q1 2020, and slightly above guidance
  • Book-to-bill ratio reaches 1.25x

Outlook 2021

  • Substantial growth expected from strong semiconductor and improving industrial markets
  • Uncertainty from COVID-19 pandemic remains but is expected to fade over the rest of the year
  • Sales1, EBITDA, EBITDA margin and net income expected to grow vs 2020
  • Capex planned at around CHF 40 million; free cash flow expected to be higher despite growth investments into working capital

Guidance for Q2 2021

  • VAT expects net sales1 of CHF 205 - 215 million

1 At constant foreign exchange rates

VAT Group

Q1 2021Q1 2021Q4 2020Change2Q1 2020Change3
Order intake240.7210.0+14.6%181.3+32.7%
Net sales192.2187.6+2.5%145.5+32.1%
Order backlog193.2145.3+32.9%150.6+28.2%

2 Quarter-on-Quarter; 3 Year-on-Year