VAT Group Reports Q1 Sales Dip Amid Surge in Order Intake

Apr 16, 2026 05:38 UTC

19V.F, VACN.SW

Medium term

VAT Group AG saw a 20% decline in first-quarter sales but reported a significant jump in new orders. The company maintained its optimistic full-year 2026 guidance, expecting growth across all key financial metrics.

Q1 sales: 221 million CHF (-20% YoY)
Order intake: 356 million CHF (+47% YoY)
Reiterated 2026 growth guidance for EBITDA and Net Income
Q2 sales forecast: 265-295 million CHF
Shares rose 2.6% to 566.40 CHF

VAT Group AG has reported first-quarter sales of 221 million Swiss francs, representing a 20% year-on-year decrease. When adjusted for currency fluctuations, the decline was more moderate at 9% on a constant currency basis. Despite the drop in immediate revenue, the company's forward-looking indicators show strong momentum. Order intake surged to 356 million francs, a 47% increase compared to the previous year, which jumped 67% on a constant currency basis. Management has reaffirmed the positive outlook issued in early March. The company anticipates that full-year 2026 orders, sales, EBITDA, and net income, as well as free cash flow and EBITDA margins, will all exceed 2025 levels. For the second quarter of 2026, VAT Group projects sales to range between 265 million and 295 million Swiss francs. Investors responded positively to the strong order book and reiterated guidance, with shares trading up 2.6% at 566.40 francs following the announcement.