The year in brief

In a challenging market environment, VAT delivers strong results albeit below the record levels of 2022

Quote of the Year 2023

Striving for breakthrough innovation, customer satisfaction and cost excellence resulted not only in strong 2023 results but also positions us for outperformance in the upcycle.

Michael “Mike” Allison
CEO until December 31, 2023

Net sales

Net sales
in CHF million


2022: 1,145

Net sales development

Net sales development
in CHF million


in CHF million


2022: 400

EBITDA margin
in %


2022: 35.0

Net sales by segment/region

Net sales by segment
in %

Net sales by region
in %

Free cashflow and dividend

Free cash flow
in CHF million


2022: 228

Dividend per share*
in CHF


2022: 6.25


* 2023 dividend proposal of the VAT Board of Directors to its
shareholders at the AGM on May 14, 2024; CHF 6.25 per share
to be paid from accumulated gains.

Outlook 2024

VAT expects investments in semiconductor manufacturing equipment to gradually improve over the course of 2024.

On this basis, VAT expects full-year sales*, EBITDA, net income and free cash flow in 2024 to be higher compared to 2023.

* At constant foreign exchange rates