VAT Group AG accelerates growth through record order intake and strategic acquisition

VAT Group AG, the Swiss‑listed developer and supplier of vacuum valves, multi‑valve modules, and edge‑welded bellows, has reaffirmed its bullish outlook for 2026 amid a surge in semiconductor‑industry demand and a decisive expansion into mass‑spectrometry‑based process monitoring.

Record‑breaking Q2 order intake

In a half‑year ad‑hoc announcement issued on 22 July 2026, VAT Group reported an order intake of CHF 500 million for the second quarter. This represents a 40 % sequential rise and 102 % year‑on‑year growth, underscoring the company’s robust pipeline. Semiconductor orders alone climbed to CHF 121 million, up 45 % sequentially and 134 % year‑on‑year (constant FX), while total sales for the period reached CHF 291 million. The firm reiterated its full‑year guidance for higher order intake, revenue, EBITDA, EBITDA margin, net income, and free cash flow, signalling confidence that the semiconductor sector’s shift to sub‑2 nm nodes will continue to drive demand for precision vacuum components.

Strategic acquisition of Atonarp

On the same day, VAT Group disclosed a cash transaction to acquire Japanese specialist Atonarp for approximately CHF 110 million. Atonarp’s portfolio of miniaturised mass‑spectrometry sensors positions it as a key enabler for real‑time, in‑situ process monitoring inside semiconductor fabrication chambers. With the industry’s push toward ever smaller process nodes, the ability to capture a full process fingerprint—precursors, by‑products, and plasma species—has become critical. The acquisition aligns seamlessly with VAT Group’s existing product suite and strengthens its foothold in the high‑growth semiconductor equipment market.

Market positioning and valuation

The company trades at a price‑to‑earnings ratio of 97.03, reflecting market expectations of sustained revenue acceleration. With a market capitalization of CHF 20.85 billion and a 52‑week high of CHF 727.2 (compared to a 52‑week low of CHF 257.5), VAT Group’s share price of CHF 700.4 as of 20 July 2026 indicates strong investor confidence in its growth trajectory.

Outlook

VAT Group’s dual strategy—capturing heightened demand from the semiconductor sector and expanding its technological capabilities through the Atonarp acquisition—positions it to capitalize on the next wave of process‑control innovation. As the industry moves deeper into sub‑2 nm manufacturing, VAT Group’s integrated solution portfolio and expanded sensor capabilities are likely to drive both top‑line growth and margin expansion throughout 2026 and beyond.