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AT&S Austria Technologie & Systemtechnik AG
Earnings Release • Jun 20, 2022
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Earnings Release
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Ad-hoc | 20 June 2022 15:17
AT&S Austria Technologie & Systemtechnik AG: AT&S increases guidance for the current financial year 2022/23
AT&S Austria Technologie & Systemtechnik AG / Key word(s): Change in Forecast
AT&S Austria Technologie & Systemtechnik AG: AT&S increases guidance for the current financial year 2022/23
20-Jun-2022 / 15:17 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
AT&S increases guidance for the current financial year 2022/23
Disclosure of inside information according to 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 start-up of the new production capacities at the plant in Chongqing, China, is proceeding faster than previously expected and the update of customer orders shows a higher-quality product mix, which involves higher revenue and improved margins.
- The Covid-related lockdown in Shanghai, China, had significantly lower negative effects on the Shanghai plant than expected in the company’s planning so far.
- The expected exchange rate for the current year has been adjusted to 1.07 euros/US dollar (previously: 1.17 euros/US dollar) and 6.9 euros/RMB (previously: 7.5 euros/RMB).
Therefore, AT&S anticipates that revenue of roughly € 2.2 billion will be generated in the financial year 2022/23 (previously: approx. € 2 billion). The expected EBITDA margin adjusted for start-up costs will increase to 27 to 30% (previously: 23 to 26%). The assumptions regarding start-up costs (€ 75 million) and the investment volume (€ 1,250 million) remain unchanged. The outlook is based on the assumption that the global economy will not enter a recession, no direct negative financial effects of the geopolitical upheavals will result from the war in Ukraine and the Covid situation in China will not lead to any long-term production downtimes.
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft – Advanced Technologies & Solutions
AT&S is a globally leading manufacturer of high-end printed circuit boards and IC substrates. AT&S industrialises leading-edge technologies for its core business segments 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 production site for IC substrates is currently being established in Kulim, Malaysia. The company employs roughly 13,000 people. For further information please visit www.ats.net
Press contact:
Gerald Reischl, Director Communications & Public Relations
Tel: +43 3842 200 4252; Mobile: +43 664 8859 2452; [email protected]
Investor Relations contact:
Philipp Gebhardt, Director Investor Relations
Tel: +43 3842 200 2274; Mobile: +43 664 7800 2274; [email protected]
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Fabriksgasse 13
8700 Leoben / Austria
20-Jun-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com
| Language: | English |
| Company: | AT&S Austria Technologie & Systemtechnik AG |
| Fabriksgasse 13 | |
| 8700 Leoben | |
| Austria | |
| Phone: | +43 (1) 3842200-0 |
| E-mail: | [email protected] |
| Internet: | www.ats.net |
| ISIN: | AT0000969985, AT0000A09S02 |
| WKN: | 922230 |
| Indices: | ATX |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1379551 |
| End of Announcement | EQS News Service |