Vat Group Ag · SIX:VACN
Vat — Q2 2026 Earnings Presentation
27 slides from Vat's earnings presentation, Jul 23, 2026
Slide 1: H1 2026 Results & Acquisition of Atonarp
H1 2026 Results & Acquisition of Atonarp We change the world with vacuum solutions July 22, 2026
Slide 2: Agenda
Agenda 04 Highlights Urs Gantner, CEO 09 Financial review Fabian Chiozza, CFO 16 Acquisition of Atonarp Urs Gantner, CEO 22 Market expectations and outlook Urs Gantner, CEO 25 Q&A 2 July 2026 | H1 2026 results & Acquisition of Atonarp
Slide 3: Highlights
01 Highlights Urs Gantner, CEO
Slide 4: Highlights H1 2026
Highlights H1 2026 Unique demand dynamics in the semiconductor markets are driving record order intake of CHF 500 million in Q2 2026 • Semiconductor supply and demand imbalances in leading-edge drive Orders intake – investments in additional fab capacity highest H1 ever • Record order intake in H1 o
Slide 5: Summary H1 Sales Performance
Summary H1 Sales Performance Semiconductor related sales in Valves and Global Service are accelerating Our business segments Our market segments Our regional split (share of H1 2026 net sales) (share of H1 2026 net sales) (share of H1 2026 net sales) EMEA Global 13% Service Valves 21% (79%) Americas
Slide 6: VAT Ramp is Progressing
VAT Ramp is Progressing VAT is actively managing the key ramp-up elements: manufacturing capacity and a supply chain that can support the expected demand growth Over 700 colleagues added globally to support VAT’s ramp since December 2026 Global temp development (last 6m) Hires in CH / MY / RO Produc
Slide 7: Innovation Remains the Engine of VAT's Performance
Innovation Remains the Engine of VAT’s Performance VAT maintains high innovation and spec-win activity despite ongoing ramp. Technology remains a key barrier to entry and creates visibility on future sales R&D expenses continue at high pace Spec-wins already moving to <2nm technology R&D expenses (i
Slide 8: Financial Review
02 Financial Review Fabian Chiozza, CFO
Slide 9: Order Intake
Order Intake VAT posts record order intake in Q2 and H1 2026 as data center investment drives advanced fab build-out Q2 orders up 40% sequentially and more than doubled year on year (in CHF million) 934 856 648 523 489 500 294 248 +75% YoY +121% YoY +102% YoY Q2 order intake Half-year order intake O
Slide 10: Orders and Sales through the Cycle
Orders and Sales through the Cycle Momentum continues as AI hyperscaler capex and advanced chip supply and demand imbalances drive demand for semiconductor manufacturing capacity (in CHF million) BtB Q2: 600 Order intake has doubled 1.7x 1.8x 1.6x 500 Order intake – peak level in 1.4x 400 Q4 2021 1.
Slide 11: Adjacencies and Global Service Sales Growth
Adjacencies and Global Service Sales Growth High fab utilization and roll-out of leading-edge chip manufacturing equipment are fueling growth Adjacencies outgrowing overall Semi business Demand in Consumables driven by fab utilization rates Adjacencies sales (in CHF million) Global Service sales (in
Slide 12: Gross Profit Development
Gross Profit Development H1 2026 gross profit margin of 67% supported by efficiency programs and ramp effects Net sales (in CHF million) 600 558 70% 66% 512 67% 500 65% 450 65% 400 365 341 298 300 60% 200 55% 100 0 50% H1'24 H1'25 H1'26 Net Sales Gross Profit Gross Profit Margin • H1 gross profit ma
Slide 13: EBITDA Development
EBITDA Development Front loading of ramp costs burdening EBITDA margin as operating leverage yet to materialize Net sales (in CHF million) CMD 2025 - EBITDA 600 target band: 30% to 37% 40% 500 35% 400 300 30% 200 25% 100 0 20% H1 2024 H2 H1 2025 H2 H1 2026 Net Sales EBITDA EBITDA-Margin • EBITDA dow
Slide 14: Finance Summary
Finance Summary H1 investments in capacity, talent and supply chain readiness position VAT to capture unprecedented demand and unlock operating leverage in H2 and beyond • Manage a very steep ramp: adding 700 employees and activating the supply chain • Continue a managed build-out and optimization o
Slide 15: Acquisition of Atonarp
03 Acquisition of Atonarp Urs Gantner, CEO
Slide 16: Atonarp Fits into VAT's Composite Growth Strategy
Atonarp Fits into VAT’s Composite Growth Strategy Acquisition represents the consequent execution of VAT’s previously communicated growth ambitions beyond its present core valve and Adjacencies portfolio Beyond 2029: • Advancing portfolio to offer vacuum solutions Complementary • Atonarp is one elem
Slide 17: Atonarp Technology Suite
Atonarp Technology Suite Atonarp offers highly specialized instruments designed to meet the needs of digital molecular sensing and analytics, particularly in-situ Semiconductor metrology for process control Highlights Aston mass spectrometry product portfolio ▪ Founded in 2009 ASTON Impact ASTON Int
Slide 18: Atonarp is an Expansion of the VAT Technology Stack
Atonarp is an Expansion of the VAT Technology Stack Vacuum valves remain VAT’s core business – Adjacencies leverage established technology know-how organically – with Atonarp adding differentiated sensing capabilities C Control valves G A A G A ASTON real-time M molecular sensing C M S C G Gas-inlet
Slide 19: A Winning Proposition for VAT
A Winning Proposition for VAT Atonarp will allow VAT to venture into technology enabling next generation process control for node sizes below 2nm. VAT can provide the 1st next-gen process control solutions to OEMs VAT gains technology enabling Atonarp gains access to VAT’s process control unmatched
Slide 20: Transaction Terms and Timeline
Transaction Terms and Timeline Closing expected in Q3 2026, subject to closing conditions • Around CHF 110 million paid in cash to acquire 100% of the shares of Atonarp from its current shareholders Acquisition price • No further earn-out structures, Atonarp immediately becomes a fully owned subsidi
Slide 21: Market Expectations and Outlook
04 Market Expectations and Outlook Urs Gantner, CEO
Slide 22: WFE Estimates – High Expectations Continue into 2027
WFE Estimates – High Expectations Continue into 2027 2026 WFE forecasts up over 26% since last year, with industry sentiment pointing to continued substantial growth ahead 24% >20% Key drivers for WFE growth in 2026 and beyond 200 ~180 • 2026 hyperscaler capex expected to reach USD 750bn+ - which co
Slide 23: Over 140 Fabs to come Online Globally by 2030
Over 140 Fabs to come Online Globally by 2030 Key drivers of the fab build-out, aside from the expansion of leading-edge capacity, includes regional self-sufficiency Leading-edge fab hubs China: c. USD46 – 61 bn of WFE ‘27-’30 USA: c. USD20bn of WFE Fab status for 2026 / 2027 • 49 fabs are in constr
Slide 24: Outlook 2026 and Sales Guidance for Q3
Outlook 2026 and Sales Guidance for Q3 Advanced logic and memory chip supply and demand imbalance set to prevail in coming quarters, driving continued strong WFE investment momentum into 2027 • VAT expects semiconductor equipment investment to grow through 2026 and into 2027, supported by higher hyp
Slide 25: Q&A session
O05 Q&A session
Slide 26: Additional information
Additional information Investor information Contact information Listing: SIX Swiss Exchange Michel Gerber Christopher Wickli Currency: CHF Head Marketing, Investor Relations Ticker symbol VACN Communications and IR Manager ISIN CH0311864901 Phone: +41 81 553 70 13 Phone: +41 81 553 75 39 michel.gerb
Slide 27: Forward looking statements
H1 2026 results Forward looking statements Forward-looking statements contained herein are qualified in their entirety as there are certain factors that could cause results to differ materially from those anticipated. Any statements contained herein that are not statements of historical fact (includ