2023
The first half year in brief
The slowdown in semiconductor equipment spending shows expected impact on orders, sales, and profitability. As VAT believes that the market might have bottomed and that demand is set to gradually improve over remainder of 2023, it remains ready for higher volumes and returning to growth in 2024.
453.8
2022: 549.0
132.4
2022: 192.1
29.2
2022: 35.0
36.9
2022: 78.6
VAT expects semiconductor equipment investments to decline in 2023 on increased inflation risks and other short-term macroeconomic factors, before recovering in 2024.
VAT expects 2023 full-year sales and EBITDA to be below the records set in 2022. The company now expects its EBITDAmargin to be slightly below the 32–37% target band*. Net income and free cash flow are also expected to be lower.
* Based on an USD/CHF rate of 0.95 as introduced at the 2022 Capital Markets Day