Slide 1: Full-year 2022 results
WAT PASSION. PRECISION. PURITY. PASSION.PRECISION.PURITY. VAT - We change the world with vacuum solutions Full-year 2022 results www.vatvalve.com
Slide 2: Agenda
2 a 2 n_ a So a si © > fig Agenda pen = Highlights Full-year 2022 financial review 2023 market expectations and outlook Q&A WAT PASSION. PRECISION. PURITY. Mike Allison, CEO Fabian Chiozza, CFO Mike Allison, CEO
Slide 3: Strong market conditions led to record results in 2022
WAT PASSION. PRECISION. PURITY. Strong market conditions, growth initiatives and operational execution led to record results in 2022 Order intake in 2022 only marginally below exceptional 2021 level; oe Yon reduced Q4 order intake indicates semiconductor market ReDoESTNee) Ue} moderation mn | Flawle
Slide 4: Specification wins and flawless execution drove record 2022 results
2 Si a 2 n_ a So a si © > Ss fig Specification wins and flawless business execution drove record 2022 results Our business segments Delivering outstanding performance (Share of 2022 net sales) Valves 1,21 0) (2%) 1,1 45 (427%) (81%) aly? Ty Full-year 2022 order Full-year 2022 net %? €; intake (M CHF
Slide 5: Semiconductors are our driving force; strong growth in service
Our markets WAT" Semiconductors are our driving force; strong growth propelling service business close to 20% of sales Sales breakdown by business units 2022 Regional sales breakdown 2022 19% >75% of VAT’s 12% sales are semiconductor 13% related 26% 63% 62% MAPAC BAmericas BEMEA ™|Semiconductor Disp
Slide 6: Full-year 2022 results
Full-year 2022 results ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Slide 7: Adjacencies continue growth path toward 2027 target of CHF 300 million
2 SI a 2 n_ a So a si © > = fig Adjacencies continue growth path: on track towards 2027 target of CHF 300 million 2019 VAT adjacencies (in CHF million) 2020 2021 | Motion Components. Adv Modules 2022 WAT PASSION. PRECISION. PURITY Continued expansion of adjacencies business confirms strategic focus
Slide 8: Market segment 2022 growth
Market segment 2022 growth ▪ ▪ ▪ ▪ Full-year 2022 results ▪
Slide 9: Agenda
2 Si a 2 n_ a So a si © > Ss fig Agenda pen = Highlights Full-year 2022 financial review 2023 market expectations and outlook Q&A WAT PASSION. PRECISION. PURITY. Mike Allison, CEO Fabian Chiozza, CFO Mike Allison, CEO
Slide 10: Group key figures
2 SI a © nN Cv So a si © > = a Group key figures Orders CHE 1,210m -2% Net income CHF 307m +41% Net sales CHE 1,145m +27% WAT PASSION. PRECISION. PURITY EBITDA CHF 400m (+30%) EBITDA margin 35.0% (+0.8ppt) Leverage (Net debt/LTM EBITDA) O.1x (-0.2x)
Slide 11: Order intake and backlog
Full-year order intake -2% yoy Year-end order backlog +12% yoy Q4 order intake -43% yoy Full-year 2022 results 1Order backlog as of December 31, 2021 and December 31, 2022
Slide 12: Order momentum continues to weaken; sales remained healthy
WAT Order momentum continues to weaken; sales remained "0%" on healthy level on backlog execution ~ 1.80 500 = 450 1.60 400 - 1.40 * 350 - 120 z so NS 1.00 & 250 mn a .. ¢ 200 we seven Se oe eo eo le ee _ 080 150 0.60 ee oe oo oe oo oe ee ee ee er co Oe Oe coe ol ol eo fe . 0.40 50 | 0.20 0 0.00 Q1
Slide 13: Net sales and EBITDA
1'145 901 400 308 291 255 Full-year 2022 results 2021 2022 Q4 net sales Full-year net sales Full-year EBITDA ▪
Slide 14: Record full-year margin of 35% despite inflationary cost pressure
WAT PASSION. PRECISION. PURITY Record full-year margin of 35% despite persisting inflationary cost pressure 700 38% ~ 800 35% 2 = 500 & 32% xr S 400 & 29% 4 8 300 Q 26% 2 200 ° 0 a 20% H12018 H2 2018 H12019 H2 2019 H12020 H2 2020 H12021 H22021 412022 H2 2022 Net Sales Mami EBITDA = =EBITDA-Margin =
Slide 15: ROIC and free cash flow
700 70% 600 60% 500 50% 400 40% 300 30% 200 20% 100 10% 0 0% 2015 2016 2017 2018 2019 2020 2021 2022 Invested Capital CHFm NOPAT (LTM) CHFm Free Cash Flow (LTM) CHFm ROIC % CROIC % WACC % Full-year 2022 results ▪ ▪ • • •
Slide 16: Lower deductions below EBITDA yield record net income
WAT PASSION. PRECISION. PURITY Lower deductions below the EBITDA line yield in record net income in CHF million 2022 2021 Change EBITDA 400.4) 307.9 30.0% Depreciaton and amortization a OS “41.0 OS 434 4.9% EBIT 359.4) 264.9 35.7% Finance net -3.0 7A -58.0% EBT 356.4) 2577 38.3% Income tax expenses
Slide 17: Free cash flow conversion
Free cash flow conversion 100% 91% 88% 86% 79% 69% 70% 64% 57% 58% 57% 51% 42% 44% 39% 41% Full-year 2022 results 2015 2016 2017 2018 2019 2020 2021 2022 ▪ ▪
Slide 18: Full-year 2022 results
1.9 1.5 1.4 1.3 1.1 1 0.9 0.9 0.8 0.8 0.7 0.7 0.6 0.3 0.1 Full-year 2022 results ▪ ▪ ▪ ▪
Slide 19: Full-year 2022 results
Full-year 2022 results ▪ ▪ ▪ ▪ ▪ ▪ ▪
Slide 20: Agenda
2 a 2 n_ a So a si © > fig Agenda pen = Highlights Full-year 2022 financial review 2023 market expectations and outlook Q&A WAT PASSION. PRECISION. PURITY. Mike Allison, CEO Fabian Chiozza, CFO Mike Allison, CEO
Slide 21: Full-year 2022 results
Full-year 2022 results • • • • • •
Slide 22: Most markets expected to slow down in 2023
2 a 2 n_ a So a si © > fig After three years of unprecedented growth, most of our markets are expected to slow down in 2023 Semi © x Service Advanced Industrials 2023 expected market growth VAT 2023 Performance! Lower investment needs mainly in memory while logic/foundry less impacted; WFE expected
Slide 23: Full-year 2022 results
▪ ▪ ▪ ▪ Full-year 2022 results Semi Display & Solar Advanced Global Service Total Industrials 2016 2017 2018 2019 2020 2021 2022 ▪
Slide 24: Full-year 2022 results
Full-year 2022 results ▪ ▪ ▪ ▪ ▪ ▪
Slide 25: Q&A session
WAT PASSION. PRECISION. PURITY. PASSION.PRECISION.PURITY Q&A session Full-year 2022 results www.vatvalve.com
Slide 26: Investor information
2 SI a 2 n_ a So a si © > = fig Investor information Listing: SIX Swiss Exchange Currency: CHF Ticker symbol VACN ISIN CH 031186490 1 Financial calendar 202. 2023 WAT PASSION. PRECISION. PURITY Contact information Michel Gerber VP Investor Relations & Sustainability Phone: +41 81553 70 13 E-mail: m.
Slide 27: Forward looking statements
2 SI a © nN Cv So a si © > = a WAT PASSION. PRECISION. PURITY 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