Switzerland's VAT Group 2025 sales rise 14%, driven by semiconductors

VAT AG

03/03/2026 05:58

Overview

Switzerland-based valve maker's 2025 sales up 14%, driven by semiconductor demand

Record free cash flow of CHF 230 mln achieved in 2025

Company proposes 12% dividend increase to CHF 7.00 per share

Outlook

VAT expects full-year 2026 orders, sales, EBITDA, and EBITDA margin to be higher than 2025

VAT expects Q1 2026 sales of CHF 240 to 260 million

Company anticipates strong demand for manufacturing equipment due to AI-driven chip demand

Result Drivers

SEMICONDUCTOR DEMAND - Sales up 14% driven by growth in leading-edge semiconductor manufacturing and higher fab utilization rates

AI INFRASTRUCTURE - Late 2025 saw a pick-up in orders as markets invested to support AI-driven demand

ASIA EXPANSION - Robust growth in Asia with direct sales to Chinese customers growing 24% year on year

Company press release: ID:nEQ1Dw2l2a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY EPS
CHF 7.15
FY Net Income
CHF 214.30 mln
FY EBITDA
CHF 321.60 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 7 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the industrial machinery & equipment peer group is "buy."

Wall Street's median 12-month price target for VAT Group AG is CHF492.00, about 8.4% below its March 2 closing price of CHF537.20

The stock recently traded at 52 times the next 12-month earnings vs. a P/E of 41 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)