Article

VAT Group AG's stock surged 14.3% following the announcement of Q4 orders and sales exceeding expectations, driven by increased demand for semiconductor technology related to AI and strong business from China. The Swiss company reported preliminary Q4 orders of approximately 305 million CHF, surpassing analyst expectations of 243.8 million CHF, marking a 28% increase quarter-over-quarter and a 14% year-over-year rise.

Sales reached 257 million CHF, exceeding the company's forecast of 225-245 million CHF, though flat compared to the previous quarter and down 9% year-over-year. The performance was fueled by rising demand for advanced logic and memory chips for AI data centers.

For the full year 2025, VAT reported preliminary orders of 1.033 billion CHF, stable year-over-year, and net sales increased about 14% to 1.073 billion CHF, with an EBITDA margin of approximately 30%. Free cash flow for 2025 is expected to exceed 225 million CHF, up about 23% from the previous year.