EarningsQ2 2026 Earnings Report
MX:VACNN Q2 2026 EPS Results
Actual EPS$71.58
Consensus EPS$70.32
Beat/MissBeat by +$1.26
One Year Ago EPS$76.33
MX:VACNN Q2 2026 Revenue Results
Actual Revenue$11.10B
Expected Revenue$6.28B
Beat/MissBeat by +$4.83B
YoY Revenue Growth-8.26%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeBefore Open
Conference CallWednesday, July 22, 2026
MX:VACNN Upcoming Earnings
VAT Group AG's next earnings date is estimated for March 2, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:VACNN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and market momentum: record orders, rapid factory output ramp (32% Q/Q) and a healthy order book (book-to-bill 1.7x) underpin near-term growth and confidence in achieving a >CHF 450m quarterly run rate by year-end. Innovation metrics (60 specification wins, 7% R&D spend) and the strategic acquisition of Atonarp support a longer-term technology expansion beyond core valves. Offsetting risks include front-loaded ramp costs weighing on H1 EBITDA (29.0% vs 29.6%), supply-chain and component constraints, FX/commodity headwinds, and limited near-term financial visibility for the Atonarp asset. Management expects operational leverage in H2 and a record 2026 for orders, sales and free cash flow, but acknowledged uncertainty in 2027 visibility.Company Guidance
Record Order Intake in Q2
Q2 order intake reached a record CHF 500 million; Q2 orders were up 40% sequentially and up ~102% year-over-year. The order book increased ~50% since last reporting and >120% versus last year, with a book-to-bill ratio of 1.7x.
Strong First-Half Order Growth
First-half orders increased 75% year-on-year, reflecting broad-based confidence in a sustained semiconductor growth cycle driven by wafer fab equipment demand.
Rapid Factory Output Ramp
Q2 output rose 32% quarter-over-quarter, exceeding prior target of 20%-30% per quarter. Company remains on track to reach a quarterly factory output run rate of >CHF 450 million by year-end.
Workforce and Capacity Expansion
Added >700 employees in H1 across Malaysia, Switzerland, and Romania (approximately 22% new colleagues referenced), with ~85% of hires in manufacturing roles and significant capacity expansion in Malaysia (Malaysia factory utilization ~80%-85%; Switzerland ~70%).
Solid Profitability Metrics Despite Ramp Costs
Gross profit declined 7% year-on-year but gross margin improved to 66.6% from 65.5% a year ago. H1 EBITDA margin was 29.0% (versus 29.6% prior year) despite frontloaded ramp-related expenses.
Innovation Momentum and Specification Wins
Invested ~7% of sales in R&D in H1; secured 60 specification wins in first six months and maintain >130 development projects, signaling strong technology leadership and future revenue pipeline.
Adjacencies and Service Contributing to Growth
Semiconductor new valve sales grew 134% year-over-year; Advanced Industrials orders up 36% YoY; adjacencies showing 5% growth and global service/consumables also contributing as fab utilization increases.
Strategic Acquisition of Atonarp
Signed SPA to acquire Atonarp for its miniaturized mass spectrometry (Aston) technology for real-time in-chamber molecular sensing; positioned as a long-term capability expansion into process sensing and analytics to support sub-2nm and beyond. Management expects meaningful bottom-line contribution by end of decade and modest incremental R&D (~0.5% of revenue).
MX:VACNN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed