Brief: VAT Sees Negative Impact In Q3 Between CHF 20-25 Million
08/10/2024 05:47
Oct 8 (Reuters) - VAT GROUP AG VACN.S :
* VAT MEDIA RELEASE AHEAD OF Q3 2024 RESULTS
* VAT EXPECTS ITS Q3 2024 SALES FIGURES TO FALL SHORT OF LOW
POINT
OF Q3 GUIDANCE OF CHF 235 TO 255 MILLION COMMUNICATED WHEN
RELEASING ITS Q2 AND H1 RESULTS MID-JULY 2024
* VAT ESTIMATES THIS ONE-OFF, NEGATIVE IMPACT IN Q3 TO BE IN
RANGE
OF CHF 20 TO 25 MILLION
* OVERALL MARKET ENVIRONMENT FOR Q4 2024 AND 2025 REMAINS
POSITIVE
AND ORDER BACKLOG FOR Q4 EXECUTION HAS DEVELOPED IN LINE WITH
FORECASTS
* PRE-BUILD OF PRODUCTS WAS SUFFICIENT AND ALIGNED WITH
CUSTOMERS
AND THUS IMPACT OF IMPLEMENTATION ISSUES LIMITED
* THIS SHORTFALL IS DUE TO TECHNICAL ISSUES FROM NEW ERP
SOLUTION
IMPLEMENTATION IN SWITZERLAND THAT STARTED IN AUGUST 2024
* ROOT CAUSES OF THIS HAVE BEEN IDENTIFIED AND MAJOR ONES
HAVE
BEEN RESOLVED; REMAINING ONES ARE EXPECTED TO BE RESOLVED DURING
Q4 2024 WITH ALL MISSING Q3 REVENUES BEING RECOGNIZED BY END OF
YEAR
* MORE DETAILS ON Q3 BUSINESS DEVELOPMENT, ORDERS AND
DETAILED
SALES INCLUDING CUSTOMARY Q4 SALES GUIDANCE WITH TRADING UPDATE
RELEASE AND CONFERENCE CALL SCHEDULED FOR OCTOBER 17, 2024
Source text for Eikon: ID:nEQ5wXymQa
Further company coverage: VACN.S
(Gdansk Newsroom)
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