VAT Media Release on Capital Markets Day 2022

VAT Group AG / Key word(s): Interim Report VAT Media Release on Capital Markets Day 2022 02-Dec-2022 / 06:30 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Four strategic priorities to accelerate growth: Further increase market share in all core businesses and markets Expand customer value and Share of Wallet in valve-adjacent markets VAT2B – Build strong capabilities to deliver on strategy and further improve operational excellence and scalability Execute VAT’s ESG strategy that creates value for all stakeholders 2027 targets: Net sales at CHF 1.8-2.2 bn and EBITDA margin at 32-37% over the cycle

VAT, the world’s leading manufacturer of high-end vacuum valves, today updated its strategic priorities and financial targets for the period 2023 to 2027. The company continues to forecast a favorable medium-term demand environment, driven by the need for increasingly sophisticated semiconductors to drive digitalization, renewable energy, and other positive megatrends.

“VAT remains the undisputed global leader in vacuum valves, and we have further strengthened our market and technology position since our last Capital Markets Day in 2020,” said Michael Allison, VAT’s CEO. “We’re at the epicenter of long-term market expansion, we continue to build our technology advantage and our significant efforts in operational excellence are paying off.”

“We’ve witnessed unprecedented growth over the past two years and the medium-term outlook remains very positive,” Allison said. “As previously mentioned, we expect cyclically softer demand in the short term as semiconductor manufacturers slow capital investments in new production. We’re seeing some signs of this in the fourth quarter and expect it to continue through 2023.”