August 2, 2018 / 5:09 AM / 3 months ago

BRIEF-VAT Group H1 Net Income Up 40 Pct At CHF 84 Million

Aug 2 (Reuters) - VAT Group AG:

* OUTLOOK 2018: SEES TO GROW FY NET SALES BY A MID-SINGLE DIGIT RATE AT CONSTANT FOREIGN EXCHANGE RATES

* GROUP ORDER INTAKE IN THE SECOND QUARTER OF 2018 WAS CHF 166 MILLION, A DECLINE OF 13% ON THE PRIOR-YEAR PERIOD

* Q2 NET SALES UP 17%; ORDERS DOWN 13%

* Q2 GROUP NET SALES IN THE QUARTER WERE CHF 189 MILLION, AN INCREASE OF 17%

* MID-TERM EBITDA MARGIN TARGET OF 33% BY 2020 REMAINS IN PLACE

* OUTLOOK 2018: NOW FORESEES FULL-YEAR EBITDA MARGIN TO BE MAINTAINED AT AROUND HALF-YEAR NUMBER

* FULL-YEAR NET INCOME AND EARNINGS PER SHARE (EPS) ARE EXPECTED TO GROW SUBSTANTIALLY

* OVERALL CAPITAL EXPENDITURES IS FORESEEN TO BE AROUND 8% OF NET SALES IN 2018

* EBITDA FOR THE FIRST HALF OF THE YEAR IMPROVED BY 24% TO CHF 122 MILLION

* H1 NET INCOME ATTRIBUTABLE TO SHAREHOLDERS OF CHF 84 MILLION, AN INCREASE OF 40% OVER SAME PERIOD A YEAR EARLIER Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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