Machinery industry VAT increases sales and order intake in 2024
As expected, the Eastern Swiss vacuum valve manufacturer VAT closed the 2024 financial year with sales growth and a strong increase in orders. Profitability also increased slightly according to initial figures.
09.01.2025, 07:23
SDA
According to initial unaudited figures, sales rose by 6 percent to 942 million Swiss francs, after falling by almost a quarter in 2023 due to the weakness of the semiconductor market. According to a press release issued on Thursday, order intake climbed by a whopping 49 percent to 1.03 billion.
With these key figures, VAT is roughly in line with the expectations of the analysts surveyed by AWP. In the run-up to the publication, they had on average expected sales of 943 million Swiss francs and order intake of 1.05 billion.
In view of the increase in sales, VAT's margin also improved. Although the Group will not publish detailed earnings figures until March 4, the data currently available indicates that the margin on operating profit EBITDA is slightly above 31 percent. In 2023, it had amounted to 30.6 percent.
VAT started the new year with an order backlog of around CHF 370 million, 37% higher than in the previous year. At the end of September, it amounted to 388.7 million.
VAT also announced that the election of Clara-Ann Gordon and former CEO Michael Allison as new members of the Board of Directors will be proposed at the upcoming Annual General Meeting. Karl Schlegel, on the other hand, will not be standing for re-election.
