VAT Group AG shares surged 14.3% after the Swiss vacuum valve maker posted surprisingly strong fourth-quarter results. Preliminary orders hit CHF 305 million, easily beating analyst estimates. Sales reached CHF 257 million, exceeding the company's guidance. The robust performance was fueled by accelerating demand for semiconductor technology used in AI datacenters.

The company attributed the boom to leading-edge logic and memory chips required for artificial intelligence applications. Hyperscalers drove this trend, with capital spending estimated above USD 400 billion last year. VAT noted that even after adjusting for pre-orders taken before a January 1 price hike, its book-to-bill ratio remained a healthy 1.1x, signaling continued momentum.

For the full 2025 year, VAT posted preliminary orders of CHF 1.03 billion, flat year-over-year, while net sales rose about 14% to CHF 1.07 billion. The company maintained an EBITDA margin near 30%, beating consensus despite currency headwinds. Free cash flow is expected to exceed CHF 225 million, up roughly 23% from the prior year.