on VAT Group AG (isin : CH0311864901)
VAT Group AG Anticipates Q3 2024 Sales Below Expectations
VAT Group AG has announced that its Q3 2024 sales figures are projected to miss the lower bound of the CHF 235 to 255 million guidance set in July. The shortfall is attributed to technical issues following the implementation of a new ERP system in Switzerland, starting in August.
The company has identified and resolved the major causes and expects to address remaining concerns by Q4 2024, recognizing all delayed Q3 revenues by year-end. Despite the setbacks, a proactive pre-build of products limited the impact on customers. VAT estimates this temporary issue will negatively affect Q3 sales by CHF 20 to 25 million.
The market outlook for Q4 2024 and 2025 remains positive, with the order backlog aligning with forecasts. Full recovery in production, shipment, and invoicing processes is anticipated during the fourth quarter.
R. E.
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