Half Year 2024 VAT Group AG Earnings Call Transcript

Jul 18, 2024 / 09:00AM GMT

Transcript

Key Points

Positve

Orders have increased by 74% compared to last year, indicating strong demand recovery.
EBITDA margin improved to 30.1%, up from 29.2% last year, reflecting better operational efficiency.
Sales in the semiconductor business unit surged by 140% compared to last year.
The company achieved 48 spec wins in H1 2024, a 17% increase from the previous year.
Strong performance in the global service segment, with sales of replacement gates growing over 40%.

Negative

Sales for H1 2024 were flat compared to the previous year, indicating no growth in revenue.
Consumer electronic sales are running slower globally due to post-COVID inflation.
Some industrial and automotive chipmakers are still experiencing slow demand due to high inventory levels.
The ADV business saw a decline in orders by 23% compared to Q2 2023.
Free cash flow decreased by 29% year-on-year, reflecting high capital expenditure.

Operator

Ladies and gentlemen, welcome to the half-year results 2024 conference call and live webcast. I am Maria, the Chorus Call operator. I would like to remind you that all participants will be listen-only mode, and the conference is being recorded. (Operator instructions)

At this time, and it's my pleasure to hand over to Urs Gantner, CEO. Please go ahead, sir.

Urs Gantner

VAT Group AG - Chief Executive Officer, Member of the Executive Committee

Good morning, ladies and gentlemen. Thanks for joining this webcast on our Q2 and half-year 2024 results. We have done things a bit differently this year by not publishing preliminary key figures earlier, but by speeding up our closing process until delivering final results a bit earlier. We now are one of the first companies reporting in the sector.

Today, I'm joined on this call by our CFO, Fabian Chiozza. Also here with me are Michel Gerber and Christopher Wickli from our IR and Sustainability team. Let's move to slide 2, the agenda.

For today's agenda, we have scheduled the following four

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