EQS-Ad-hoc: AT&S Austria Technologie & Systemtechnik AG / Key word(s): Change in forecastAT&S Austria Technologie & Systemtechnik AG: AT&S increases outlook for the current financial year 2022/23 06/20/2022 / 15:17 CET/CESTDisclosure of inside information according to Article 17 of Regulation (EU) No. 596/2014, transmitted by EQS – a service of EQS Group AG. The issuer / publisher is responsible for the content of the notification.
AT&S raises its outlook for the current 2022/23 financial year
Disclosure of inside information in accordance with Article 17 MAR
Leoben – AT & S Austria Technologie & Systemtechnik Aktiengesellschaft has essentially adjusted three of its assumptions regarding the future development within the current financial year:
- The ramp-up of the new production capacities at the Chongqing, China plant is faster than previously expected and the updated customer orders show a higher value product mix, which is accompanied by higher sales and an improved margin.
- The Covid-related lockdown in Shanghai, China, had significantly fewer negative effects on the plant located there than expected in previous planning.
- The expected exchange rate for the current year was adjusted to 1.07 euros/US dollar (previously: 1.17 euros/US dollar) and 6.9 euros/RMB (previously: 7.5 euros/RMB).
AT&S therefore assumes that sales of around €2.2 billion will be achieved in the 2022/23 financial year (previously: around €2 billion). The expected EBITDA margin adjusted for start-up costs increases to 27 to 30% (previously: 23 to 26%). The assumptions regarding the level of start-up costs (€75 million) and the investment volume (€1,250 million) remain unchanged. For the outlook, it is assumed that the global economy will not enter a recession, that the war in Ukraine will not have any direct negative financial effects as a result of geopolitical turmoil and that the Covid situation in China will not lead to any long-term production losses.
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft – Advanced Technologies & SolutionsAT&S is one of the world’s leading manufacturers of high-quality printed circuit boards and IC substrates. AT&S industrializes future-oriented technologies for the core businesses Mobile Devices & Substrates, Automotive, Industrial and Medical. AT&S has a global presence with production sites in Austria (Leoben, Fehring) and plants in India (Nanjangud), China (Shanghai, Chongqing) and Korea (Ansan near Seoul). A new high-end IC substrate manufacturing facility is currently under construction in Kulim, Malaysia. The company employs around 13,000 people. Further information also under www.ats.net
Media contact:
Gerald Reischl, Director Communications & Public Relations
Tel: +43 3842 200 4252; Mobil: +43 664 8859 2452; g.reischl(at)ats(dot)net
Investor Relations Contact:
Philipp Gebhardt, Director Investor Relations
Tel: +43 3842 200 2274; Mobil: +43 664 7800 2274; p.gebhardt(at)ats(dot)net
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Fabriksgasse 138700 Leoben / Austriawww.ats.net
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06/20/2022 CET/CEST Announcement transmitted by EQS Group AG. www.eqs.com
