VAT Group AG (VACNY) Q3 2025 Sales Call Transcript

VAT Group AG (OTCPK:VACNY) Q3 2025 Sales Call October 16, 2025 4:00 AM EDT

Company Participants

U. Gantner – Chief Executive Officer
Michel Gerber – Vice President of Investor Relations & Sustainability
Fabian Chiozza – Chief Financial Officer

Conference Call Participants

Meihan Yang – Goldman Sachs Group, Inc., Research Division
Sebastian Kuenne – RBC Capital Markets, Research Division
Joern Iffert – UBS Investment Bank, Research Division
Janardan Menon – Jefferies LLC, Research Division
Daniel Schafei – Citigroup Inc., Research Division
Craig Abbott – Kepler Cheuvreux, Research Division
Didier Scemama – BofA Securities, Research Division
Martin Jungfleisch – BNP Paribas Exane, Research Division
Nejc Lavric – Octavian AG, Research Division
Michael Foeth – Vontobel Holding AG
Sandeep Deshpande – JPMorgan Chase & Co, Research Division
Timm Schulze-Melander – Rothschild & Co Redburn, Research Division
Oliver Wong – BofA Securities, Research Division
Nigel van Putten – Morgan Stanley, Research Division

Presentation

Operator

Ladies and gentlemen, welcome to the VAT Q3 2025 Trading Update Conference Call. I am Sandra, the Chorus Call operator. [Operator Instructions]

The conference is being recorded. [Operator Instructions] The conference must not be recorded for publication or broadcast. At this time, it’s my pleasure to hand over to Urs Gantner, CEO. Please go ahead, sir.

U. Gantner
Chief Executive Officer

Thank you. Ladies and gentlemen, good morning, and welcome to VAT’s Q3 2025 Trading Update Conference Call. With me this morning are CFO, Fabian Chiozza; and Michel Gerber from Investor Relations. After my introductory remarks, we will have our regular Q&A session and the call operator/moderator will take your questions in the order you enter them.

Another quarter has passed, and I can say that it developed quite in line with the expectation we shared with you during our Q2 webcast on July 29. For me, the following 6 topics on which I will elaborate in more detail during today’s call are important when analyzing

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