VAT Group AG

VACN: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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VAT Group Earnings: Revenue Declines as Order Backlog Reaches Record Levels; Shares Overvalued

Joachim Kotze

Jul 22, 2026

VAT Group's first-half 2026 sales fell 8%, with EBITDA margin compressing to 29.0% from 29.6% a year ago. Order intake reached a record CHF 856 million (up 75% year on year), with book/bill at 1.7 times, and backlog up 121%.

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VAT Group AG

VAT Group Earnings: Revenue Declines as Order Backlog Reaches Record Levels; Shares Overvalued

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