Zurich (awp) – VAT shares fell on the Swiss Stock Exchange on Tuesday morning after the pump equipment manufacturer announced that its third-quarter turnover should be below the bottom of the forecast range of 235 to 255 million francs. Swiss. Analysts speak of an incident which should not have repercussions on the group’s objectives.
At 9:47 a.m., VAT shares lost 1% to 415.40 Swiss francs, while the SPI lost 0.69%. Since the start of the year, the stock has also performed less well than the overall market, whereas in 2023 it had risen significantly.
VAT cited technical problems linked to the introduction last August of a new ERP solution in Switzerland to justify its new forecasts, revised downwards.
Reacting to the announcement, Zurich Cantonal Bank (ZKB) analyst Michael Inauen delays, saying VAT is not the first company to encounter more problems than expected when implementing a new ERP system .
The group having announced a loss of between 20 to 25 million Swiss francs, “if we correct the objectives for this deficit, VAT should still have achieved a turnover in line with the objectives”, he says. It recommends the market weight rating.
At Vontobel, analyst Michael Foeth agrees, emphasizing that the reported revenue shortfall “is not linked to market conditions but only to internal technical problems.” “This incident has no impact on our investment case,” he communicates, confirming the buy rating.
lf/a
